The Ultimate Showdown: Veteran MPV Models Offer Hefty Discounts to Compete with Incoming ‘New Kids’ VinFast and MG

The MPV segment was once one of the hottest in the Vietnamese automotive market, with multiple brands launching products in this category. Today, the MPV market in Vietnam is thriving with a range of options, from pure gasoline and hybrid to pure electric MPVs.

At the beginning of the Year of the Rabbit, many MPV models in Vietnam are offering attractive promotions. These deals are helping Vietnamese customers save tens of millions of dong when purchasing MPVs.

Japanese MPVs Offer Registration Fee Discounts

Last year, the Suzuki XL7 Hybrid was one of the best-selling gasoline-electric hybrid vehicles in Vietnam, despite only being available to customers from September 2024. The Suzuki XL7 Hybrid is a direct replacement for the Suzuki Ertiga Hybrid, and the XL7 variant uses a pure gasoline engine.

In February, Suzuki Vietnam is offering a promotion for the XL7 Hybrid, providing a 50% discount on registration fees and an additional cash gift of 20 million VND. The total value of the Suzuki XL7 Hybrid’s incentives this month is approximately 55 million VND.

Currently, the XL7 Hybrid is one of the two remaining Suzuki passenger car models in Vietnam. It is priced at nearly 600 million VND, maintaining the same price as the gasoline-only variant.

The Mitsubishi Xpander was the best-selling car in Vietnam in 2023, and last year, this small MPV also made it to the top-selling vehicles in the market. After the Lunar New Year, the Mitsubishi Xpander is offering a panoramic camera or a rearview camera, along with fuel vouchers worth 15-25 million VND. For the 2024 production models, Mitsubishi is also offering a 50% discount on registration fees, with a maximum value of 35 million VND.

The total value of incentives for the Mitsubishi Xpander ranges from 45 million to a maximum of 76 million VND, depending on the version and year of production. Currently, the Mitsubishi Xpander is sold in Vietnam with four versions, priced between 560 and 698 million VND.

Toyota’s Veloz Cross and Avanza Premio, along with the Honda BR-V, are offered with a 50% discount on registration fees. Photo: TMV, HVN.

This February, Honda Vietnam is also offering incentives for the Honda BR-V, including a 50% discount on registration fees and one year of body insurance. This program only applies to the Honda BR-V L version, bringing the price of the car to approximately 670 million VND.

Toyota Vietnam is also offering promotions for its two domestically assembled MPVs, the Veloz Cross and Avanza Premio, in the form of a 50% discount on registration fees. The value of the incentives for the two Toyota Veloz Cross versions is 32-33 million VND, while the Avanza Premio has an incentive value of 28-30 million VND.

Chinese MPVs Offer Promotions Ahead of New Launches

Although not as prominent as before, 2024 still witnessed the arrival of a series of Chinese MPV brands in the Vietnamese market.

Among them, the BYD M6 is the first pure electric MPV option for Vietnamese customers, the BYD M8 competes with the Kia Carnival and Volkswagen Viloran, and the BYD M6 Pro goes up against the Toyota Innova Cross and Hyundai Custin in the mid-sized MPV segment.

The BYD M6 and GAC M6 Pro are new MPV models launched in Vietnam in 2024. Photo: Phuc Hau.

This February, the BYD M6 is offering a cash discount of 10 million VND, a one-year physical insurance package, free maintenance for six years, and an official underbody protection package for the battery. As a pure electric vehicle, the BYD M6 also enjoys a 100% exemption from registration fees until the end of February.

The two GAC M6 versions offer a cash discount or a smart watch as a gift. The “older brother” GAC M8 MPV is offered with a one-year physical insurance package, a cash gift of 20 million VND, or tinted windows, depending on the version.

This year, the MPV segment in Vietnam will welcome a range of new arrivals, including gasoline and pure electric vehicles.

First, the MG G50 will soon be officially launched in Vietnam with its price announced. At the VMS 2024 exhibition held in Ho Chi Minh City in October last year, the MG G50 was displayed at the MG booth, with an expected price starting from 550 million VND.

It is likely that this year, VinFast will also launch the Limo Green – its first electric MPV and one of the models in the Green line dedicated to transportation business services.

The MG G50 and VinFast Limo Green are upcoming MPV models in Vietnam. Photo: Phuc Hau, VinFast.

The Denza D9, another electric MPV, was also showcased by BYD at the VMS 2024 exhibition but has not yet announced specific plans for the Vietnamese market. The Denza D9 is rumored to be priced above 3 billion VND.

With over ten models currently available or soon to be launched, the MPV segment in Vietnam is expected to remain vibrant, at least for the rest of the year.

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