The Mid-Year MPV Race Heats Up: Xpander Makes a Comeback

May witnessed the arrival of numerous new models across various segments in the Vietnamese automotive market, causing a slight shuffle in the monthly sales race. In the affordable MPV segment, all Korean contenders experienced a slight dip.

Kia Carens and Hyundai Stargazer Witness a Decline in Sales

According to the Vietnam Automobile Manufacturers’ Association (VAMA), Thaco Auto sold 275 units of the Kia Carens in May, marking a near 2% decrease compared to the previous month.

The Hyundai Stargazer, a compatriot of the Carens, also witnessed a 16.4% decline, delivering 327 units to customers in May. Following two months of growth due to registration fee incentives, the Stargazer has returned to its earlier average of below 300 units per month.

Currently, the MPV continues to benefit from TC Group’s promotion of up to 100% registration fee support, amounting to a value between 48 and 55 million VND.

The Hyundai Stargazer experienced a slight dip in sales in May. Image source: TC Group.

Hyundai’s mid-sized MPV, the Custin, also saw a decrease in sales from 165 to 145 units in May. Unlike the Stargazer, the Custin offers a more spacious 2-2-3 seat configuration, often positioning it alongside the Kia Carnival, Toyota Innova Cross, and BYD M6 and GAC M6. It is available in four versions, with prices ranging from 820 to 999 million VND.

Japanese MPVs Show Strong Growth

The Mitsubishi Xpander has consistently led the MPV segment in terms of sales and has largely carried the segment. After a turbulent April with sales dipping to 972 units, the Xpander reclaimed its position in May with 1,100 units sold, reflecting a 13.1% increase.

As a top-selling model, the Xpander frequently benefits from manufacturer promotions. In June, the vehicle continues to enjoy a 50% registration fee discount, translating to savings of 28-33 million VND.

The Xpander Cross variant also comes with a 50% registration fee support, along with a fuel voucher worth 20 million VND and a panoramic camera.

The Mitsubishi Xpander continues to dominate the affordable MPV segment. Image source: Vĩnh Phúc.

The Toyota Veloz Cross maintained its steady sales growth in May, reaching 615 units. Thus far this year, June marks only the second month where the Veloz Cross has surpassed the 600-unit mark. This positive trajectory can be attributed to the continuous incentives offered by Toyota for this MPV.

In June, the Veloz Cross benefits from a 100% registration fee waiver, resulting in customer savings of 64-66 million VND. This program applies to the CVT and CVT Top variants, priced at 638 million and 660 million VND, respectively.

With these customer-centric promotions, the Veloz is poised to witness continued sales growth in the upcoming quarters, potentially challenging the Xpander’s leading position.

Honda’s MPV offering, the BR-V, also recorded a healthy sales increase in May, with 259 units sold, equivalent to an 11.6% rise.

The Honda BR-V experienced a slight uptick in sales in the middle of the second quarter. Image source: Bối Hạ.

In June, Honda Vietnam is offering a 50% registration fee support for the BR-V, effectively lowering the price from 629-705 million to 597-670 million VND.

The Suzuki XL7 Hybrid, the only model in the segment with a hybrid engine, saw its sales climb from 195 to 201 units in May. However, this figure remains significantly lower than the average sales of 405 units recorded in the first three months of the year.

A Flock of New Entrants

This year, the MPV segment has witnessed heightened excitement with the introduction of several new entrants offering diverse engine options and price points.

BYD made an early move by bringing the M6 to the market at the beginning of the year, attracting customers in the service sector. Currently, the BYD M6 is priced at 756 million VND and is imported from China.

The VinFast Limo Green is expected to be a game-changer in the MPV segment upon its launch. Image source: VinFast.

Following BYD, MG introduced the G50, an MPV with dimensions comparable to many mid-sized MPVs in the market. However, the G50 is strategically priced in the affordable MPV range, with three versions ranging from 559 to 749 million VND.

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