Vietnam automotive market sees new model launches and used car price volatility

The Vietnamese automotive market is experiencing significant shifts driven by new model launches and aggressive pricing strategies. In the new vehicle segment, VinFast is expected to begin deliveries of the VF 2 electric vehicle in September. The VF 2 has already seen high demand, recording over 28,000 deposits in three days. Additionally, MG is preparing to introduce several new models, including the MG4 Urban electric vehicle and the new generation MG ZS.

These developments in the new car market are causing volatility in the used car sector. Competitive pricing and heavy discounts on new models are forcing used car dealers to adjust prices more frequently than usual to remain competitive. Some models that were previously known for high resale value are seeing multiple price reductions within a single month as dealers attempt to move inventory amidst pressure from the new car market.