[REVISION HISTORY]

Vietnam auto market: SUV, hybrid, and EV dominance

Updated 14 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-25 03:23 UTC → 2026-09-28 02:06 UTC · added ~~removed~~

By late 2026, Vietnam’s automotive market continues its structural realignment toward SUVs, electric vehicles, and ~~hybrids, while manufacturers employ aggressive promotional strategies.~~ hybrids. In the first half of 2026, Vietnam recorded the highest growth rate in the ASEAN-6 group, with sales increasing 31.1% to approximately 291,000 units. This growth was heavily driven by VinFast, which delivered approximately 116,000 electric vehicles during the same period. Despite this growth, the market faces seasonal fluctuations and segment shifts. In August 2026, total ~~market~~ sales ~~experienced a~~ fell 17% monthly ~~decline~~ to 48,484 ~~units, a downturn attributed~~ units due to ‘Tháng Ngâu’ (the seventh lunar month). Despite this, cumulative sales for the first eight months of 2026 rose 26.4% year-on-year to 432,548 vehicles, driven largely by VinFast. A sharp divergence in segment performance persists. Ngâu’. While the pickup ~~truck~~ segment ~~showed recovery,~~ recovered, sales for affordable gasoline-powered small cars—including the Hyundai Grand i10, Toyota Wigo, and Kia Morning—plummeted by nearly 50% in August compared to July. Specifically, sales for these models fell to 167 units, a 46.4% monthly decrease and a 52.4% decline compared to the same period last year. Notably, cars plummeted, with the Hyundai Grand ~~i10’s monthly sales fell~~ i10 falling below 100 monthly units in ~~September for the first time this year.~~ September. To ~~stimulate demand, intense price competition has expanded into the hybrid electric vehicle (HEV) segment. Hybrid sales rose 65%~~ navigate intensifying competition, manufacturers are implementing aggressive pricing strategies, particularly in the ~~first eight months of 2026, reaching 13,889 units, with Toyota holding over 67% market share.~~ small SUV and hybrid segments. In ~~September,~~ September 2026, Toyota ~~Vietnam increased incentives~~ offered 50% registration fee support for the Corolla Cross and up to 100% for the Yaris Cross ~~HEV, offering~~ HEV. Mitsubishi is providing 100% registration fee ~~support, while Honda Vietnam provided substantial discounts on~~ support for the ~~HR-V e:HEV RS.~~ Xforce, with savings of approximately 60 to 72 million VND, while also expanding its logistics capacity with a new spare parts warehouse in Hai Phong to optimize delivery to northern dealers. Other manufacturers are also ~~participating in aggressive discounting. VinFast launched early deposits for its VF Wild REEV with~~ discounting heavily: Honda is offering a 61 50 million VND ~~discount, while Mitsubishi continues to offer 100% registration fee support for~~ discount on the ~~Xforce,~~ HR-V; Mazda is reducing prices on the CX-30 and ~~MG dealers are~~ CX-3; and Subaru Vietnam is providing ~~direct discounts of up~~ deep cuts for the Crosstrek, ranging from 209 to ~~150~~ 269 million ~~VND on 2025 MG ZS models.~~ VND. VinFast continues to promote its VF Wild REEV with early deposit incentives.

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