Vietnam automotive market sees intense price competition

The Vietnamese automotive market is experiencing a significant price war in September 2026, driven by aggressive promotions and the rise of affordable electric vehicles. Electric models from manufacturers like VinFast, Wuling, and Bestune have lowered the market floor, with some small EVs priced below 200 million VND.

Traditional manufacturers are responding with substantial discounts. Subaru has offered reductions of up to 360 million VND on specific models like the Forester, while Volkswagen has provided incentives exceeding 300 million VND for the Touareg. Mitsubishi is heavily promoting the Xpander, with total benefits reaching up to 95 million VND, including registration fee support and fuel vouchers.

Other major brands are also participating in the price competition. Honda is offering 100% registration fee support for models such as the City and BR-V, while Toyota is providing similar incentives for the Vios, Veloz Cross, and Yaris Cross. MG has also seen a surge in interest due to deep discounts on the ZS model, which now competes in price segments typically reserved for smaller A-segment vehicles.