Due to the impacts of the Lunar New Year holiday, the MPV segment experienced a significant decrease in sales in February 2024. Most models in this segment did not see an increase in sales, except for the rare case of the Toyota Innova Cross.
| Rank | Model | February 2024 | January 2024 | Percentage Change | Year-to-Date 2024 |
| 1 | Mitsubishi Xpander | 641 | 1,285 | -50.1% | 1,926 |
| 2 | Kia Carnival | 268 | 339 | -20.9% | 607 |
| 3 | Suzuki XL7 | 219 | 450 | -51.3% | 669 |
| 4 | Kia Carens | 201 | 304 | -33.8% | 505 |
| 5 | Toyota Veloz Cross | 146 | 253 | -42.2% | 399 |
| 6 | Honda BR-V | 127 | 328 | -61.2% | 455 |
| 6 | Hyundai Custin | 127 | 244 | -47.9% | 371 |
| 7 | Toyota Avanza Premio | 85 | 127 | -33% | 212 |
| 8 | Hyundai Stargazer | 55 | 75 | -26.6% | 130 |
| 9 | Toyota Innova | 41 | 62 | -33.8% | 103 |
| 10 | Suzuki Ertiga Hybrid | 38 | 427 | -91% | 465 |
| 11 | Toyota Innova Cross | 24 | 17 | +41.1% | 41 |
MPV Sales Chart February 2024 (in units)
Mitsubishi Xpander: 641 units
In February 2024, Mitsubishi sold 641 Xpander units to Vietnamese customers, a decrease of 50.1% compared to the previous month. This is a rare month where Mitsubishi Xpander’s sales fell below 1,000 units in the Vietnamese market.
Mitsubishi Xpander
However, Mitsubishi Xpander still maintains its leading position in the MPV segment, which is quite crowded. Additionally, Mitsubishi Xpander ranks 2nd in the top 10 best-selling cars in Vietnam in February 2024, second only to the Ford Ranger.
The current price of Mitsubishi Xpander ranges from 560 to 698 million Vietnamese dong, which is quite attractive in the segment. In March 2024, Mitsubishi Xpander is offering a 50% discount on registration fees for the MT and AT versions, with values ranging from 28 to 30 million Vietnamese dong. The AT Premium version comes with a free 360-degree panoramic camera worth 20 million Vietnamese dong and a 25 million Vietnamese dong fuel voucher.
For the Mitsubishi Xpander Cross, the discount program includes a 50% reduction in registration fees, a 360-degree camera, and a 20 million Vietnamese dong fuel voucher for vehicles produced in 2023 (VIN 2023). Vehicles with VIN 2024 will receive a free 360-degree panoramic camera and a 30 million Vietnamese dong fuel voucher.
Mitsubishi Xpander in Vietnam is available in both locally-assembled and fully-imported versions from Indonesia. The car is powered by a 4-cylinder, 16-valve 1.5L gasoline engine, producing a maximum output of 105 horsepower and a maximum torque of 141 Nm. The engine is paired with a front-wheel-drive system and a 4-speed automatic or a 5-speed manual transmission.
Kia Carnival: 268 units
In February 2024, the Kia Carnival made a strong comeback, ranking second in the MPV segment in terms of sales. The sales of this large MPV reached 268 units, a 20.9% decrease compared to January 2024. However, the Kia Carnival still made it into the top 10 best-selling cars in Vietnam in the past month.
Kia Carnival
The sales results of the Kia Carnival are impressive considering that it is not a cheap car, with prices ranging from 1.169 to 1.759 billion Vietnamese dong. In March 2024, two new versions of the car were introduced, the 2.2D Luxury 7-seater and the 2.2D Signature 7-seater (without sunroof), with prices of 1.169 billion Vietnamese dong and 1.349 billion Vietnamese dong, respectively.
In addition to a variety of trim levels, the Kia Carnival also offers two engine options. The first is a 2.2L Smartstream diesel engine, producing a maximum output of 199 horsepower and a maximum torque of 440 Nm. The second is a 3.5L Smartstream V6 gasoline engine, producing a maximum output of 268 horsepower and a maximum torque of 331 Nm, combined with an 8-speed automatic transmission.
Suzuki XL7: 219 units
The third position in the MPV segment this month belongs to the Suzuki XL7. Compared to January 2024, this model has dropped one spot from second to third place. The car had a sales volume of 219 units, a decrease of 51.3%. However, this is still a successful month for the Suzuki XL7, as it usually ranks at the bottom of the segment in terms of sales.
Suzuki XL7
The success of the Suzuki XL7 is attributed to the brand’s generous promotion program. In February 2024, the car received a 100% registration fee waiver and a 10 million Vietnamese dong fuel voucher with a total value of up to 70 million Vietnamese dong. Thanks to this promotion, customers only need to invest from 529 million Vietnamese dong to own a Suzuki XL7.
The price of the Suzuki XL7 currently ranges from 599.9 to 639.9 million Vietnamese dong. With this price range, customers can get a small-sized MPV with basic safety features. The heart of the Suzuki XL7 is a 4-cylinder 1.5L gasoline engine, producing a maximum output of 103 horsepower and a maximum torque of 138 Nm, coupled with a 4-speed automatic transmission.
Kia Carens: 201 units
Following the Suzuki XL7 is the Kia Carens with a sales volume of 201 units, a decrease of 33.8%. Although the car is much cheaper than its sibling, the Kia Carnival, the Kia Carens often has lower sales numbers.
Kia Carens
The Kia Carens is one of the most versatile MPV models in Vietnam, with prices ranging from 589 to 859 million Vietnamese dong. Moreover, it is one of the few MPVs available in a 6-seater configuration in Vietnam.
In addition to its affordable price, the Kia Carens also offers three engine options. The car is available with a 1.5L natural aspirated gasoline engine, a 1.4L turbocharged gasoline engine, and a 1.5L diesel engine. These engines are paired with a 6-speed manual, a 6-speed automatic, a continuously variable transmission (CVT), or a 7-speed dual-clutch automatic transmission (DCT).
Toyota Veloz Cross: 146 units
Similar to its competitors, the Toyota Veloz Cross also experienced a decrease in sales in February 2024, with a 42.2% drop to 146 units. However, the car’s ranking improved from 7th to 5th place in the MPV segment.
Toyota Veloz Cross
In early March 2024, Toyota adjusted the listed price of the Veloz Cross, which now ranges from 638 to 660 million Vietnamese dong, down from the previous range of 658 to 698 million Vietnamese dong. With the new price, the sales of this MPV are expected to improve.
The Toyota Veloz Cross stands out with its reputable brand, rugged SUV-like design, and advanced active safety features. The car is equipped with a 4-cylinder 1.5L gasoline engine, producing a maximum output of 105 horsepower and a maximum torque of 138 Nm, paired with a CVT transmission.
Honda BR-V: 127 units
In February 2024, the Honda BR-V experienced a significant drop in sales with only 127 units sold, a decrease of 61.2%. This is not surprising as the BR-V has consistently been subject to promotional cuts in recent months.
Honda BR-V
The Honda BR-V features a sleek SUV-like MPV design, similar to the Mitsubishi Xpander, Kia Carens, Suzuki XL7, and Toyota Veloz Cross. In addition to its highly-rated exterior design in the segment, this model offers various advanced active safety features.
The heart of the Honda BR-V is a 4-cylinder i-VTEC gasoline engine, DOHC, with a displacement of 1.5L, producing a maximum output of 119 horsepower and a maximum torque of 145 Nm. The engine is paired with a CVT transmission and a front-wheel-drive system.
Compared to other competitors in the segment, the Honda BR-V does not have the advantage of price. The car is available in 2 versions and is priced from 661 to 705 million Vietnamese dong.
Hyundai Custin: 127 units
The Hyundai Custin had the same sales volume as the Honda BR-V in February 2024, with 127 units sold, a decrease of 47.9% compared to the previous month.
Hyundai Custin
Compared to the Honda BR-V, the Hyundai Custin has a larger size, more spacious interior, and more diverse convenience and safety features, but it also comes with a higher price tag. The current price of the Hyundai Custin ranges from 850 to 999 million Vietnamese dong for 3 trim levels.
Under the hood of the Hyundai Custin in Vietnam, there are two engine options. The first is a 2.0L Turbo GDi gasoline engine, producing a maximum output of 236 horsepower and a maximum torque of 353 Nm. The second is a 1.5L Turbo GDi engine, producing a maximum output of 170 horsepower and a maximum torque of 253 Nm. Both engines are paired with an 8-speed automatic transmission and a front-wheel-drive system (FWD).
Toyota Avanza Premio: 85 units
Similar to the Veloz Cross, the Toyota Avanza Premio had an unsuccessful month with a 33% decrease in sales to 85 units. This result is not surprising considering the overall weak market conditions.
Toyota Avanza Premio
Recently, the Toyota Avanza Premio attracted the most attention in Vietnam due to the emissions cheating scandal involving Daihatsu. On December 21, 2023, the MT version of the Toyota Avanza Premio was temporarily suspended from sale in Vietnam due to the Daihatsu scandal. The MT version of this MPV was only resumed on January 26, 2024, after the manufacturer received guidance from the Toyota Group and reported to the regulatory agencies.
The Avanza Premio is the more affordable version of the Veloz Cross, with prices ranging from 558 to 598 million Vietnamese dong. The car offers a less impressive design and features compared to the Toyota Veloz Cross and lacks active safety features. The engine of this MPV is the same as the Toyota Veloz Cross, but it also offers a manual transmission option.
Hyundai Stargazer: 55 units
February 2024 continued to be an unsuccessful month for the Hyundai Stargazer, with sales not exceeding 100 units. Specifically, the car had a sales volume of 55 units, a 26.6% decrease.
Hyundai Stargazer
Despite its attractive price ranging from 575 to 685 million Vietnamese dong and being one of the few MPVs available in a 6-seater configuration, the Hyundai Stargazer is becoming less popular in Vietnam. Its biggest disadvantage is the less eye-catching exterior design.
In March 2024, the Hyundai Stargazer will have a new X variant with a more sporty design, larger alloy wheels, higher ground clearance, and additional safety features such as electronic parking brake. The introduction of the X variant is expected to increase the appeal of this Korean MPV.
The Hyundai Stargazer is powered by a 1.5L Smartstream G gasoline engine, producing a maximum output of 113 horsepower and a maximum torque of 144 Nm. It is combined with an iVT continuously variable transmission and a front-wheel-drive system.
Toyota Innova: 41 units
The Toyota Innova ranked just above the Hyundai Stargazer in terms of sales volume in February 2024, with 41 units sold, a decrease of 33.8%. This small sales volume has placed the former “king of service cars” in a rather low position within the MPV segment.
Toyota Innova
The Toyota Innova has not seen any design changes or new equipment additions for a long time. Moreover, the car is not considered cheap, with prices ranging from 755 to 995 million Vietnamese dong. These factors have gradually reduced the attractiveness of the Toyota Innova in the eyes of Vietnamese consumers, including service car buyers.
The Toyota Innova is equipped with a 2.0L 4-cylinder gasoline engine with a maximum output of 102 horsepower at 5,600 rpm and a maximum torque of 183 Nm at 4,000 rpm. It is paired with either a 6-speed automatic transmission or a 5-speed manual transmission.
Suzuki Ertiga Hybrid: 38 units
In January 2024, the Suzuki Ertiga Hybrid surprised everyone by rising to the third position in the MPV segment. However, in February 2024, this model experienced a dramatic decline in sales, with only 38 units sold, a 91% decrease. This is the highest percentage drop in sales among MPVs in the segment.
Suzuki Ertiga Hybrid
In February 2024, the Suzuki Ertiga Hybrid received a 100% registration fee waiver for both the MT and AT versions. The total value of the promotion reached 117 million Vietnamese dong for the MT version and 140 million Vietnamese dong for the AT version. With this promotion, the base version of the car is priced from only 421 million Vietnamese dong. Unfortunately, this promotion was not able to increase the sales of the Suzuki Ertiga Hybrid.
As an affordable MPV, the Suzuki Ertiga Hybrid has unimpressive convenience and safety features compared to other competitors in the segment. The highlight of the car is its mild hybrid powertrain, which consists of a 4-cylinder 1.5L gasoline engine with a power output of 103 horsepower and a torque output of 138 Nm. The engine is paired with either a manual or automatic transmission.
Toyota Innova Cross: 24 units
The Toyota Innova Cross ranks last in the MPV segment in February 2024 with a sales volume of only 24 units. Compared to January 2024, the sales of this model increased by 41.1%, but it still remains at the bottom of the sales chart. Although it is the only MPV to experience sales growth, the Toyota Innova Cross is still one of the 10 worst-selling cars in the market in the past month.
Toyota Innova Cross
In reality, the low sales of the Toyota Innova Cross are not due to poor demand but rather limited supply. In the near future, as the supply improves, this model is expected to increase its sales volume.
As a direct competitor to the Hyundai Custin, this MPV has two versions with prices ranging from 810 to 990 million Vietnamese dong. Compared to the Hyundai Custin, the Toyota Innova Cross has a smaller size and falls short in terms of some convenience and safety features.
Under the hood of the 2024 Toyota Innova Cross in Vietnam, there are two engine options. The gasoline version uses a 2.0L 4-cylinder engine with a maximum output of 172 horsepower and a maximum torque of 205 Nm. The engine is paired with a Direct Shift CVT. Meanwhile, the hybrid version uses a gasoline engine with a maximum output of 150 horsepower, combined with a powerful 111 horsepower electric motor and a CVT.
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