# Vietnam auto market: SUV dominance and EV expansion

> Live situation record from CLSTR: https://clstr.news/situations/vietnam-automotive-market-slowdown
> Updated: 2026-08-26T04:11:36.000Z. Sources: 45. Developments: 46.

By mid-2026, Vietnam’s automotive market is undergoing a structural realignment, characterized by a deep shift toward SUVs, crossovers, and MPVs, while sedan sales have plummeted to multi-year lows. In June 2026, sedans accounted for only approximately 7% of total passenger-car volume, prompting manufacturers like Toyota to discontinue long-standing models such as the Corolla Altis.

Data from the first seven months of 2026 confirms that high-riding vehicles continue to outperform sedans. In the 7-seater body-on-frame SUV segment, the Ford Everest maintains a commanding lead; after capturing over 81% of July sales, it reached approximately 6,950 units for the first seven months, representing nearly 86% of the segment's total volume. Other notable performers include the Mazda CX-5, which sold nearly 10,000 units in the 900 million to 1.1 billion VND price range during this period, alongside the Hyundai Tucson, Honda CR-V, and the hybrid Toyota Innova Cross HEV.

New model launches are also reshaping the landscape. VinFast is expected to begin deliveries of the VF 2 electric vehicle in September, following high demand that saw over 28,000 deposits in just three days. MG is also preparing to introduce the MG4 Urban EV and a new generation MG ZS. These aggressive new vehicle pricing strategies and heavy discounts are causing volatility in the used car sector, forcing dealers to frequently reduce prices on models that previously held high resale value to remain competitive.

## Timeline

### 2026-08-26: Vietnam automotive market sees new model launches and used car price volatility

Vietnam's auto market faces shifts as VinFast prepares VF 2 deliveries and MG introduces new models, while aggressive new car discounts drive price volatility in the used car segment.

2 sources. https://clstr.news/cluster/vietnam-automotive-market-sees-new-model-launches-and-used-car-price-volatility

### 2026-08-24: SUV sales dominate Vietnam automotive market in 2026

High-riding vehicles dominate Vietnam's auto market in early 2026, with the Ford Everest leading the 7-seater SUV segment and the Mazda CX-5 performing strongly in its price bracket.

4 sources. https://clstr.news/cluster/vietnam-auto-market-shifts-as-ford-everest-and-mazda3-lead-respective-segments

### 2026-08-23: Indonesia overtakes Thailand as top vehicle supplier to Vietnam

Vietnam’s vehicle imports rose 40.8% year-on-year in July, with Indonesia overtaking Thailand as the top supplier due to high demand for small MPVs and urban SUVs.

4 sources. https://clstr.news/cluster/indonesia-overtakes-thailand-as-top-vehicle-supplier-to-vietnam

### 2026-08-19: Vietnam automotive market shows varied segment performance in July 2026

Vietnam's July 2026 auto market saw VinFast lead small multi-purpose vehicles, Mazda3 top C-segment sedans, and Ford Everest lead D-segment SUVs, while pickup sales grew 8.3% year-on-year.

2 sources. https://clstr.news/cluster/vietnam-automotive-market-shows-varied-segment-performance-in-july-2026

### 2026-08-11: Vietnam auto market sees growth as Japanese brands dominate ICE sales

Vietnam's auto market grew in July, led by Japanese and American ICE vehicles. Meanwhile, the MPV segment faces new price competition driven by MG G50's aggressive promotional pricing.

5 sources. https://clstr.news/cluster/vietnam-auto-market-sees-growth-as-japanese-brands-dominate-ice-sales

### 2026-08-09: B-segment SUV market in Vietnam sees major August promotions

Various B-segment SUV manufacturers in Vietnam, including Subaru, Hyundai, Mitsubishi, and Omoda & Jaecoo, are offering significant discounts and fuel incentives throughout August.

2 sources. https://clstr.news/cluster/b-segment-suv-market-in-vietnam-sees-major-august-promotions

### 2026-08-08: Vietnam MPV market sees intense price competition

Automakers in Vietnam are intensifying competition in the MPV segment, with models like the MG G50, Mitsubishi Xpander, and Toyota Avanza offering significant discounts and registration fee support.

5 sources. https://clstr.news/cluster/vietnam-mpv-market-sees-intense-price-competition

### 2026-07-25: VinFast captures majority market share in Vietnam's MPV and urban SUV segments

VinFast’s Limo Green and VF MPV 7 captured 56.5% of Vietnam’s MPV market, while VF 5 and VF 6 accounted for about 47% of urban SUV sales in H1 2026.

6 sources. https://clstr.news/cluster/vinfast-captures-majority-market-share-in-vietnams-mpv-and-urban-suv-segments

### 2026-07-22: Vietnam's car market sees sedan sales plunge as SUVs surge

Vietnam’s June 2026 auto sales show sedans fell to 7.3% (2,537 units) as SUVs and crossovers dominate, driving manufacturers to focus on high‑ride‑height vehicles.

2 sources. https://clstr.news/cluster/vietnams-car-market-sees-sedan-sales-plunge-as-suvs-surge

### 2026-07-20: Hyundai Palisade Gains Hybrid Powertrain and 2027 Model Preview in Vietnam

Hyundai introduced a hybrid 2026 Palisade with up to 329 hp and previewed the 2027 model in Vietnam, offering three trims, updated design and new tech features.

2 sources. https://clstr.news/cluster/hyundai-palisade-gains-hybrid-powertrain-and-2027-model-preview-in-vietnam

### 2026-07-20: VinFast aims for break-even by 2027 and expands sustainability agenda

VinFast targets profitability in Vietnam by 2027 while pursuing an all‑electric portfolio, net‑zero pledges, and battery‑recycling partnerships, aiming to strengthen its global EV position.

2 sources. https://clstr.news/cluster/vinfast-aims-for-break-even-by-2027-and-expands-sustainability-agenda

### 2026-07-20: Vietnam's 7‑seat SUV market surges as Ford Everest tops sales

Vietnam's 7‑seat SUV market grew 25.5% in H1 2026, led by Ford Everest (6,101 units) and Mitsubishi Destinator (5,189 units); Geely Okavango enters under 1 billion VND.

5 sources. https://clstr.news/cluster/vietnams-7seat-suv-market-surges-as-ford-everest-tops-sales

### 2026-07-18: Hyundai unveils Tucson and Palisade Hybrid SUVs in Vietnam with pricing details

Hyundai displayed its Tucson Hybrid and Palisade Hybrid SUVs in Hanoi, citing prices under 1 bn VND for the Tucson and 1.5‑1.7 bn VND for the Palisade, with launches slated for October and September.

3 sources. https://clstr.news/cluster/hyundai-unveils-tucson-and-palisade-hybrid-suvs-in-vietnam-with-pricing-hints

### 2026-07-18: Vietnam draws major automotive and electric‑bike production from Toyota, Honda and MG

Toyota, Honda and MG are expanding car and electric‑bike production in Vietnam, adding new hybrid lines and electric motorcycle output by 2026.

3 sources. https://clstr.news/cluster/vietnam-draws-major-automotive-and-electricbike-production-from-toyota-honda-and-mg

### 2026-07-18: Toyota Veloz Hybrid launch postponed in Vietnam

Toyota Vietnam says the Veloz Hybrid MPV will not be sold next year, citing no concrete launch plan and pending local hybrid production.

2 sources. https://clstr.news/cluster/toyota-veloz-hybrid-launch-postponed-in-vietnam

### 2026-07-17: Foxconn expands electric‑vehicle charging station production in Vietnam

Foxconn’s Vietnamese unit raised capital by 400 bn VND to produce EV charging stations, expanding its Bac Ninh factory that employs ~6,000 workers and adds to a $4 bn total Vietnam investment.

4 sources. https://clstr.news/cluster/foxconn-expands-electricvehicle-charging-station-production-in-vietnam

### 2026-07-17: Ford Everest dominates Vietnam SUV market amid shifting sales

Ford Everest held 86.5% of Vietnam's SUV market in H1 2026; MPV sales saw rotating leaders among Toyota and Mitsubishi; Toyota Hilux edged Ford Ranger in June pickups, with total pickup sales up 12% YoY.

5 sources. https://clstr.news/cluster/vietnam-june-2026-auto-sales-ford-everest-falls-toyota-hilux-leads

### 2026-07-15: Vietnam car market sees widespread price cuts across major brands

Vietnam car makers slash prices and boost incentives in July 2026 as sales lag, with discounts up to 140 million VND on models like Toyota Camry and KIA SUVs.

2 sources. https://clstr.news/cluster/vietnam-car-market-sees-widespread-price-cuts-across-major-brands

### 2026-07-14: VinFast Minio Green’s minimalist interior eases disassembly and infotainment upgrades

A Hanoi workshop showed the VinFast Minio Green’s simple interior—large molded panels and easy‑access HVAC—lets faster disassembly and easier Android infotainment upgrades, while its price falls to 188 million

2 sources. https://clstr.news/cluster/vinfast-minio-greens-minimalist-interior-eases-disassembly-and-infotainment-upgrades

### 2026-07-10: Vietnam's B‑segment sedans see sales surge and deep price discounts

In June 2026 Honda City sold 912 units in Vietnam, overtaking Toyota Vios’s 436, while manufacturers deep‑discounted B‑segment sedans: Hyundai Accent up to VND 89 m, Toyota Vios 46‑55 m and Honda City 100% fee‑

2 sources. https://clstr.news/cluster/vietnams-bsegment-sedans-see-sales-surge-and-deep-price-discounts

### 2026-07-08: VinFast slashes prices on cars and e‑bikes in July 2026

VinFast cut prices on most electric cars and motorbikes in July 2026, with discounts up to 170 million VND per model, deep‑discount clearance for Minio Green, and new promotions on VF 5 Plus, Limo Green and VF

5 sources. https://clstr.news/cluster/vinfast-reduces-prices-for-many-car-and-electric-scooter-models

### 2026-07-07: Hyundai launches up to 220 million VND discounts on Santa Fe and Stargazer in Vietnam

Hyundai Vietnam offers up to 220 million VND off the Santa Fe and 117 million VND off the Stargazer, part of a broader July discount push across six models.

3 sources. https://clstr.news/cluster/hyundai-launches-up-to-220-million-vnd-discounts-on-santa-fe-and-stargazer-in-vietnam

### 2026-07-07: Vietnam auto market reshaped by Thaco, Toyota and VinFast as they pivot to hybrids and SUVs

Thaco, Toyota and VinFast are overhauling Vietnam's auto line‑ups toward hybrids and SUVs, while Honda cuts the price of its electric UC3 scooter to boost market entry.

8 sources. https://clstr.news/cluster/vietnam-car-market-trims-prices-and-reshapes-product-lineups

### 2026-07-06: Vietnam auto market offers Kia discounts as recalls surge past 30,000

Kia Vietnam launches July discounts up to VND70 million on key models while the first half of 2026 saw over 30,000 vehicles recalled, a 14.6% rise driven largely by software faults.

3 sources. https://clstr.news/cluster/vietnam-auto-market-offers-kia-discounts-as-recalls-surge-past-30000

### 2026-07-05: Vietnam car market sees major price cuts on Mercedes, Subaru and Honda SUVs

Vietnam sees steep price cuts on Mercedes‑AMG C 63, Subaru Forester and Honda HR‑V SUVs, with discounts up to 901 million VND, to boost sales in the local SUV market.

3 sources. https://clstr.news/cluster/vietnam-car-market-sees-major-price-cuts-on-mercedes-subaru-and-honda-suvs

### 2026-07-04: VinFast Wins Three Honors at Asian Excellence Awards 2026

VinFast, the Nasdaq‑listed Vietnamese EV maker, earned three honors at the Asian Excellence Awards 2026 in Hong Kong – Best Investor Relations Company, Asia’s Best CFO (Nguyen Thi Lan Anh) and Best Investor & R

3 sources. https://clstr.news/cluster/vinfast-wins-three-honors-at-asian-excellence-awards-2026

### 2026-07-04: Kia Vietnam slashes prices of Sonet, Seltos and Carens, with Sonet now under 465 million dong

Kia Vietnam's July 2026 promotion cuts Sonet's price to 464 million dong, Seltos to 543 million dong and Carens to 554 million dong, with up to 70 million dong cash discounts across its SUV lineup.

2 sources. https://clstr.news/cluster/kia-vietnam-slashes-prices-of-sonet-seltos-and-carens-with-sonet-now-under-465-million-dong

### 2026-07-01: VinFast offers vouchers to gasoline‑car owners and ships thousands of EVs to Europe

VinFast offers up to 80 million VND vouchers to gasoline‑car owners switching to EVs and ships a thousand electric cars from Vietnam via China to Europe for its taxi rollout.

2 sources. https://clstr.news/cluster/vinfast-offers-vouchers-to-gasolinecar-owners-and-ships-thousands-of-evs-to-europe

### 2026-06-30: Vietnam EV manufacturers MOVE and VinFast accelerate local production and sourcing

Vietnam’s MOVE and VinFast are scaling up EV production, with MOVE opening a third plant and VinFast targeting 84% component localisation and domestic battery‑cell output by 2026.

2 sources. https://clstr.news/cluster/vietnam-ev-manufacturers-move-and-vinfast-accelerate-local-production-and-sourcing

### 2026-06-29: Manual gearboxes disappear worldwide as Vietnam's car market pivots to SUVs

Manual gearboxes have vanished globally, falling from 91% to 29% of European cars since 2001, while Vietnam's auto market sees sedan sales fall and SUVs, crossovers and MPVs surge in early 2026.

2 sources. https://clstr.news/cluster/manual-gearboxes-disappear-worldwide-as-vietnams-car-market-pivots-to-suvs

### 2026-06-27: VinFast drives Vietnam's electric vehicle boom

VinFast dominates Vietnam's EV market, holding 95% of electric cars, 29% of all vehicles, and expanding a 150,000‑port charging network with government incentives.

4 sources. https://clstr.news/cluster/vinfast-drives-vietnams-electric-vehicle-boom

### 2026-06-26: VinFast drives sales with low‑cost electric minicar incentives in Vietnam

VinFast boosts sales in Vietnam with low‑priced electric minicars, offering 0‑down financing, free charging until 2029 and tax‑free registration.

3 sources. https://clstr.news/cluster/vinfast-drives-sales-with-lowcost-electric-minicar-incentives-in-vietnam

### 2026-06-25: Toyota Fortuner sales slump as diesel models withdrawn in Vietnam

Toyota ends diesel Fortuner sales in Vietnam, leaving only gasoline models; price rises and sales fall to 110 units in May versus 1,062 for Ford Everest.

2 sources. https://clstr.news/cluster/toyota-fortuner-sales-slump-as-diesel-models-withdrawn-in-vietnam

### 2026-06-23: Mazda CX-90 launches in Vietnam with hybrid pricing from 1.9 trillion dong

Mazda's CX-90 SUV arrives in Vietnam with three hybrid/PHEV trims priced from 1.899 trillion to 2.299 trillion dong, targeting a market gap between mainstream hybrids and luxury electric SUVs.

2 sources. https://clstr.news/cluster/mazda-cx-90-launches-in-vietnam-with-hybrid-pricing-from-19-trillion-dong

### 2026-06-23: Vietnam families adopt 7‑seat MPVs and Mini EVs as second vehicles

New child‑safety rules drive Vietnamese families toward affordable 7‑seat MPVs, while a rise in Mini EVs like Bestune Xiaoma shows a shift to a second, city‑focused car.

2 sources. https://clstr.news/cluster/vietnam-families-adopt-7seat-mpvs-and-mini-evs-as-second-vehicles

### 2026-06-21: Mazda sets Vietnam prices for MX-5, CX-60 and CX-90

Mazda announced Vietnam prices: MX‑5 from 1.339 bn dong, CX‑60 at 1.699 bn, CX‑90 up to 2.299 bn, detailing trims and market positioning.

3 sources. https://clstr.news/cluster/mazda-sets-vietnam-prices-for-mx-5-cx-60-and-cx-90

### 2026-06-20: Toyota halts Corolla Altis sales as Vietnam sedan market shrinks

Toyota stops Corolla Altis sales as Vietnam’s sedan market contracts, with steep declines across B, C and D segments and a consumer shift to SUVs.

2 sources. https://clstr.news/cluster/toyota-halts-corolla-altis-sales-as-vietnam-sedan-market-shrinks

### 2026-06-15: Toyota Corolla Altis sales end in Vietnam as sedan demand wanes

Toyota has stopped selling the Corolla Altis in Vietnam from June 2026 after years of falling sales, shifting focus to SUVs and crossovers.

2 sources. https://clstr.news/cluster/toyota-corolla-altis-sales-end-in-vietnam-as-sedan-demand-wanes

### 2026-06-14: Vietnam auto market sees MPV sales rise and deep discounts on sub‑1 billion VND C‑crossovers

Vietnam's MPV sales jumped 17% in early 2026, led by Mitsubishi Xpander, while C‑segment crossovers under 1 bn VND face steep price cuts, with Mazda CX‑5 staying the top seller.

2 sources. https://clstr.news/cluster/vietnam-auto-market-sees-mpv-sales-rise-and-deep-discounts-on-sub1-billion-vnd-ccrossovers

### 2026-06-13: Vietnam auto market sees mass discounts on B‑size SUVs

Vietnam’s car dealers cut B‑size SUV prices in June, with up to 70 million VND off Honda HR‑V and 6 % off VinFast’s electric VF 6, driving sales to over 11,000 units for the latter.

2 sources. https://clstr.news/cluster/vietnam-auto-market-sees-mass-discounts-on-bsize-suvs

### 2026-06-08: Vietnam auto market sees record low prices on SUVs and surge of affordable electric cars

Vietnam's car market is being reshaped by VinFast's affordable electric vehicles and steep discounts on models like Subaru Forester, Isuzu mu‑X and MG HS, pushing SUVs into unprecedented low‑price ranges.

2 sources. https://clstr.news/cluster/vietnam-auto-market-sees-record-low-prices-on-suvs-and-surge-of-affordable-electric-cars

### 2026-06-08: Vietnam auto market sees deep SUV price cuts in June

Vietnamese car makers cut SUV prices sharply in June, with discounts up to 310 million VND on Subaru Forester and Kia Seltos falling to around 519 million VND.

2 sources. https://clstr.news/cluster/vietnam-auto-market-sees-deep-suv-price-cuts-in-june

### 2026-06-05: Toyota Vietnam lifts May sales with extensive discounts and financing incentives

Toyota Vietnam reported a 25% rise in May sales, driven by incentives such as up to 100% registration fee waivers, 0% loan interest and fuel‑efficiency bonuses for models like Yaris Cross, Veloz Cross and Avanz

2 sources. https://clstr.news/cluster/toyota-vietnam-lifts-may-sales-with-extensive-discounts-and-financing-incentives

### 2026-06-03: Toyota Vietnam May 2026 sales see Hilux outsell Vios, Yaris Cross leads

Toyota Vietnam sold 5,994 vehicles in May 2026. Yaris Cross led with 1,430 units; Hilux overtook Vios (648 vs 626). Hybrid sales rose 70% YoY.

3 sources. https://clstr.news/cluster/toyota-vietnam-may-2026-sales-see-hilux-outsell-vios-yaris-cross-leads

### 2026-05-30: Vietnam car market grapples with surging inventory and scarce new models

Vietnam's auto market holds 170‑200k unsold cars as sales lag far behind a supply of ~400k, prompting deep discounts and few new models amid a shift toward electric vehicles.

5 sources. https://clstr.news/cluster/vietnam-car-market-grapples-with-surging-inventory-and-scarce-new-models

### 2026-05-05: Toyota Vietnam drives Veloz Cross to best‑seller status with major incentives

Toyota Vietnam’s May incentives, including 100% tax waivers, helped the Veloz Cross become its best‑selling model in April.

3 sources. https://clstr.news/cluster/toyota-vietnam-drives-veloz-cross-to-bestseller-status-with-major-incentives

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Cite as: Vietnam auto market: SUV dominance and EV expansion. CLSTR, https://clstr.news/situations/vietnam-automotive-market-slowdown