As Vietnam enters the peak shopping season in preparation for the Lunar New Year travel rush, the country’s automotive market is unexpectedly facing a severe supply shortage.
A survey of major dealerships in Hanoi reveals widespread stockouts, particularly for imported and hybrid vehicles. At Toyota showrooms, popular models like the Yaris Cross HEV, Innova Cross, and Camry are currently unavailable for immediate delivery.
Some dealerships have even reported running out of the Corolla Cross. Prospective buyers must now place a deposit and wait until late February, after the Tet holiday, to take delivery.
Toyota isn’t the only brand affected; Mitsubishi is also grappling with shortages. The newly launched Destinator is sold out at most dealerships due to customs clearance delays, significantly limiting new vehicle arrivals in January and February.
Even top-selling models like the Xpander and Xforce are becoming scarce, with base versions in short supply and premium variants offering limited color options. Honda is also feeling the pinch, as the City sedan is expected to run out of stock before Tet. High-clearance models such as the HR-V and the hybrid CR-V e:HEV RS have stopped accepting immediate delivery orders due to depleted inventories.
The shortage at authorized dealerships has unexpectedly boosted the second-hand car market but has also led to price gouging. With the urgency to secure a vehicle for Tet, many buyers are turning to pre-owned cars, driving prices to unusually high levels. For instance, the Mitsubishi Destinator Ultimate is now selling for 945 million VND in the secondary market, a 30 million VND markup from its previous on-road price. Even more striking, the pre-owned Honda CR-V e:HEV RS is priced above the new car’s 1.259 billion VND threshold, partly due to concerns over supply disruptions as the model transitions to local assembly.
TH (Tuoitrethudo)
Photo: Hoàng Ngọc Sơn
Hybrid Cars with Generous Discounts: Up to 140 million VND
Leading up to Lunar New Year, the demand for purchasing cars skyrockets. It is also a golden opportunity for car manufacturers and dealerships to launch major promotional campaigns to boost sales.
