Vietnam MPV market sees intense price competition

The popular MPV segment in Vietnam is experiencing intense price competition, with several 7-seater models seeing significant price reductions and promotional packages to stimulate demand.

Notably, the MG G50 MT has seen its price drop from a list price of 559 million VND to 445 million VND through incentives. For loyal customers purchasing a second vehicle, additional support can bring the actual price down to 395 million VND, placing a mid-sized MPV in the same price bracket as small A-segment city cars.

Other major manufacturers are also aggressively competing. Mitsubishi is offering incentives equivalent to 100% of registration fees on the Xpander, with discounts ranging from 57 to 95 million VND. Toyota has implemented similar policies for the Avanza Premio and Veloz Cross, providing registration fee support and financial incentives. Hyundai is also applying promotional programs for the Stargazer model to maintain market share.