Vietnam auto market sees record low prices on SUVs and surge of affordable electric cars

International analysis links VinFast's low‑cost electric models to a rapid expansion of EV ownership in Vietnam, contrasting with stagnant adoption in the United States. Falling battery costs – an 8% drop globally – and expanding lithium‑iron‑phosphate technology have helped EV sales surpass 20 million units worldwide, a 20 % increase over 2024. In Vietnam, VinFast's competitively priced EVs are driving consumer uptake and reshaping the market.

Domestic dealers are clearing excess inventory with deep price cuts. The Subaru Forester now sells for as low as 839 million VND (down 260 million VND) for the 2.0 iL EyeSight version and 889 million VND for the 2.0 iS EyeSight trim. Isuzu's mu‑X 7‑seat SUV has been reduced by 115 million VND to a selling price of 901 million VND. Chinese‑made MG HS receives discounts of 184‑199 million VND, bringing its price range to 515‑550 million VND. These cuts bring midsize and larger SUVs into price brackets previously occupied by smaller, lower‑segment vehicles, intensifying competition across the Vietnamese car market.