What Car Should Vietnamese Buyers Choose on a Budget of Under 500 Million VND?

According to the Vietnam Automobile Manufacturers’ Association (VAMA), passenger car sales of member companies in February reached 14,549 units, up 2.5% from the previous month. VinFast also announced that it sold more than 12,500 electric vehicles, an increase of 25%.

It can be seen that, despite still being in a low period, the Vietnamese automobile market has recorded positive growth for the second consecutive month. However, models in the price range of 500 million VND saw a decrease in sales, except for the VF 3.

VF 3 Takes the Lead

With a budget of around 550 million VND, the VinFast VF 3 is currently the best-selling model with nearly 5,200 units sold in February. In the first month of the year, VF 3 sales also fluctuated around 4,000 units.

Following VF 3 is the Kia Sonet, which sold 395 units in February. Compared to the previous month (421 units), the sales of this SUV have decreased by about 6%.

The Hyundai Grand i10, a small car in the A segment, sold 216 units, a slight decrease of 5 units from the beginning of the year. Its direct competitor, the Kia Morning and Toyota Wigo, also didn’t fare much better, with sales of 56 and 137 units, respectively.

Kia Morning. Photo by Bối Hạ.

Meanwhile, the Hyundai Venue sold 143 units in February, 20% lower than the previous month. However, this is not the model with the highest decrease in the group. The Toyota Raize, an A-segment SUV priced at around 500 million VND, sold 135 units in February. Compared to sales at the beginning of the year, the number of Raize cars sold has almost halved.

Why is VF 3 the Only Successful Model?

Currently, with a budget of under 500 million VND, including registration fees, there are not many options available in the Vietnamese market.

A-segment SUVs such as the Toyota Raize, Hyundai Venue, and Kia Sonet have listed prices of around 500 million VND. However, this price is for the higher-end version, and when you include registration fees, it can exceed the budget. If you opt for the base model to stay within your budget, you will have to compromise on interior features.

Notably, the top-of-the-line Kia Sonet has surpassed the 600 million VND mark, matching the prices of many B-segment models on the market. Of course, if you can stretch your budget a little, an A-segment SUV is the most versatile choice in terms of size, features, and safety.

In the B-segment sedan category, customers have two options: the MG 5 MT (399 million VND) and the Mitsubishi Attrage (380-490 million VND).

Similar to the A-segment SUVs, if you choose to buy a B-segment sedan with a budget of under 500 million VND, you will likely have to settle for a manual transmission. These manual sedans are primarily chosen by ride-hailing drivers rather than families.

MG5 MT. Photo by Vĩnh Phúc.

If you’re looking for a gasoline-powered car with an automatic transmission or a more complete interior within this budget, you’ll have to consider downsizing to the A-segment, including models such as the Kia Morning, Hyundai Grand i10, or Toyota Wigo. However, this also means compromising on the size of the vehicle.

Currently, the VF 3 and Wuling MiniEV are the two most affordable options on the market, both equipped with electric motors. This group also exerts significant pressure on A-segment models in terms of price, operating costs, and maneuverability in urban areas.

The Wuling MiniEV was once expected to change the habit of motorcycle use in Vietnam, targeting young customers. However, this mini electric car has failed to attract individual customers and has instead shifted to selling in bulk to taxi and transport companies.

The VinFast VF 3 has recently been price-adjusted to 299 million VND, including the battery. Of course, the VF 3 cannot compete with A-segment SUVs or B-segment sedans in terms of size or engine power. Still, with its competitive price and the advantage of a charging station network, this mini electric car is the most suitable choice in the under-550 million VND category.

In conclusion, with the current market situation, the VF 3 is simply the most suitable option for car buyers with a tight budget. In the future, there may be new offerings from VinFast or other brands, as this segment still has significant potential for sales growth.

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