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The compact MPV segment in Vietnam once witnessed a vibrant phase with the consecutive launch of several new models. During that time, the Mitsubishi Xpander and Toyota Veloz Cross garnered significant attention from the community.
Currently, the buzz around affordable MPVs has somewhat cooled down, but substantial promotional programs for these 7-seater family vehicles continue to be rolled out by manufacturers in Vietnam.
Massive Incentives Rolled Out
As of the end of June, the Mitsubishi Xpander remains the best-selling compact MPV. With 8,187 units sold since the beginning of the year, it’s not quite enough to compete for the top spot in the overall market, but it still solidifies the Xpander’s position as Vietnam’s most popular affordable MPV.
In August, this compact MPV offers a 50% subsidy on registration fees for all variants. Vietnamese buyers purchasing the Mitsubishi Xpander this month also receive fuel vouchers, a reverse camera, physical insurance, or a 360-degree camera, depending on the variant.
The total incentive value for the Mitsubishi Xpander in August starts at 45 million VND. The AT Premium variant receives a 50% registration fee subsidy, along with a fuel voucher, one year of physical insurance, and a 360-degree camera, totaling 82 million VND in incentives.
The Xpander Cross variant offers a 50% registration fee subsidy, a fuel voucher, and a panoramic camera. The total promotional value in August is 75 million VND.
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The Mitsubishi Xpander offers tens of millions in discounts despite being the segment’s bestseller. Photo: Vĩnh Phúc. |
In Vietnam, the Toyota Veloz Cross was once expected to become a significant competitor to the Mitsubishi Xpander in the compact family vehicle market. Despite transitioning from Indonesian imports to local assembly, the Toyota Veloz Cross has yet to compete on equal footing with the Mitsubishi Xpander.
In August, Toyota’s compact MPV duo, the Veloz Cross and Avanza Premio, both offer incentives worth tens of millions of VND. The promotional program includes 100% registration fee coverage and one year of Toyota body insurance, equivalent to 64.7–69.3 million VND for the Avanza Premio and 72.7–75 million VND for the Veloz Cross.
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The Toyota Veloz Cross and Toyota Avanza Premio also offer significant incentives in August. Photo: TMV. |
The Suzuki XL7 Hybrid is currently the only compact MPV equipped with a gasoline-electric hybrid powertrain. In August, Vietnamese buyers of the Suzuki XL7 Hybrid enjoy a 100% registration fee subsidy for 2024 VIN vehicles, equivalent to a 60 million VND incentive.
For the 2025 Suzuki XL7 Hybrid, the Japanese automaker offers a 50% registration fee subsidy, equivalent to a 30 million VND incentive. Despite a modest year-to-date sales figure of 1,193 units in the compact MPV segment, the Suzuki XL7 Hybrid still ranks among the top 3 most popular hybrid vehicles in Vietnam.
Both Honda BR-V variants in Vietnam receive a 50% registration fee subsidy and one year of body insurance. With a listed price of 629–705 million VND, the registration fee incentive for the Honda BR-V ranges from 31 to 35.3 million VND.
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The Honda BR-V once ranked second in the compact MPV segment. Photo: HVN. |
Korean representatives in the segment, such as the Kia Carens and Hyundai Stargazer, also offer incentives in August. Hyundai provides up to a 50% registration fee subsidy for the Stargazer, while the Kia Carens starts at 599 million VND.
Pressure from New Competitors
One notable new competitor in Vietnam’s compact MPV segment is the MG G50. This Chinese-branded MPV offers a manual transmission variant priced at 559 million VND. This positions the MG G50 in the mid-size segment but at a starting price lower than compact MPVs like the Mitsubishi Xpander MT (listed at 560 million VND), Suzuki XL7 Hybrid (599 million VND), and Toyota Veloz (638 million VND).
Pure electric MPVs like the BYD M6 (756 million VND) and VinFast Limo Green (749 million VND) are priced higher but are still considered formidable enough to make the compact MPV segment in Vietnam cautious.
The advantage of pure electric MPVs lies in their operating costs, a key factor for commercial transport service customers.
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Vietnam’s MPV segment gains more pure electric options. Photo: Phúc Hậu, Sơn Phạm. |
For the Limo Green, the ability to use V-GREEN charging stations for free is a significant advantage. The extensive public charging network allows drivers to charge more proactively, while the free charging policy nearly eliminates operating costs.
It remains unclear whether the Mitsubishi Xpander’s leading position in the compact MPV segment will be affected by the launch of these new vehicles. The Limo Green has just begun deliveries, and BYD has not disclosed M6 sales figures in Vietnam.
However, the 8,187 units sold by the Mitsubishi Xpander in the first half of this year still represent positive growth compared to the 7,773 units delivered to Vietnamese customers in the first half of 2024.
The Mitsubishi Xpander’s dominance may continue, especially with the tens of millions in incentives mentioned above.
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