Hybrid Cars Set to Shake Up the Vietnamese Market

The Honda CR-V e:HEV RS. Photo: Vinh Phuc.

Starting from 2023, many new car models with hybrid engines, also known as hybrid engines, have entered the Vietnamese market and attracted the attention of a large number of consumers. Many models have recorded a surprising growth in sales despite being recently launched.

In fact, hybrid cars are not new to Vietnam, but a few years ago they only appeared in high-end models priced at over 1 billion to several billion dong. The newly launched hybrid models come with more reasonable prices, making the market more vibrant.

Sold out since launch

Mr. Tuan (Ho Chi Minh City), shared with Tri Thuc – Znews the reason for choosing hybrids over conventional engine versions. According to Mr. Tuan, hybrid cars are advertised to help save fuel, so he also wants to switch to save more costs for himself.

“The consultants and the information I read all say that hybrid cars are new technology that helps save gas, so I want to try it out. My family and I also plan to buy electric cars in the future, so I want to gradually make the switch,” Mr. Tuan added.

A brief overview of some hybrid technology car models launched in Vietnam in the 3rd quarter of 2023, such as the Toyota Innova Cross and the Honda CR-V, both hybrid models quickly sold out and even saw a surprising surge in demand, which was thought to have disappeared since the beginning of 2023.

Mr. Chi Hung (Dong Nai) said that as soon as Toyota Vietnam launched the Innova Cross hybrid version, he and his family decided to order one but still haven’t got the car. Moreover, many dealerships even suggested that Mr. Hung could pay some additional charges to arrange for early delivery of the car.

“Since November 2023, I have been trying to buy the Toyota Innova Cross hybrid version, but most dealerships are sold out. I contacted 4-5 consultants, and they all said that I have to wait until next year to get the car. If I want to receive the car earlier, I have to pay an additional amount of several million dong,” Mr. Hung added.

The Toyota Innova Cross. Photo: TMV.

Recently, when contacting Xuan T. (Hanoi), a Toyota salesperson, he mentioned that the dealership only has one remaining unit of the white Toyota Innova Cross hybrid model. However, the car will not arrive in time for Tet.

“The dealership only has one remaining unit of the white Innova Cross hybrid model. If customers are interested, they need to make a deposit soon. The car will be delivered in mid-March this year,” Mr. T. added.

Previously, some Honda dealerships in Ho Chi Minh City also said that the Honda CR-V e:HEV RS model is still not available due to high customer demand. In addition, all hybrid versions are imported cars, so the supply is also affected by the import situation of the manufacturer.

Going hand in hand with electric cars

In Vietnam, hybrid cars do not receive the same incentives as electric cars. However, in many countries around the world, hybrid cars are classified as green cars along with EVs.

The Toyota Corolla Cross Hybrid.

Although the majority of global car companies are gradually transitioning to electric cars, some car companies are still hesitant and do not want to be the first ones in this race. Toyota, Honda, and many other car companies, including supercar manufacturers, all want to develop hybrid technology before moving on to pure electric cars.

In addition to maintaining the advantages of internal combustion engines, hybrid cars with the support of a battery system and an electric motor help save more fuel or provide more powerful performance. Moreover, hybrid cars can operate without the need for charging, which is a point that many users are concerned about when considering a switch to green cars.

In Vietnam, the electric car market is growing rapidly with a series of new models launched in the past few years, including domestic brand VinFast and many foreign brands such as Hyundai, Mercedes-Benz, Porsche, etc. There will be more electric car models entering the market. The hybrid car market can also grow along with this trend.

Many Vietnamese people are starting to use green cars to reduce fuel consumption, limit pollution, or find cars with different operating capabilities compared to conventional cars. Hybrid cars are a familiar and more accessible choice compared to electric cars, which require changes in usage habits.

Incoming wave of newcomers

In addition to newly launched models such as the Toyota Innova Cross and the Honda CR-V, 2024 is expected to be a year with many hybrid car models entering the Vietnamese market.

Specifically, MG HS is one of the models that have leaked information and will soon be launched in the Vietnamese market this year. The MG HS at this launch is expected to have a plug-in hybrid version in addition to the conventional gasoline engine.

In Thailand, the Mitsubishi Xpander 2024 has also set its date for sale, including a hybrid engine version. Regarding the exterior, the Mitsubishi Xpander 2024 will retain the design and continue to use the Dynamic Shield design language from its predecessor. However, the rear of the car will have additional details such as brake lights or reflectors.

The Honda HR-V e:HEV. Photo: Honda Motor.

Recently, Honda Motor also unveiled the new 2024 HR-V Hybrid model at the Singapore Motor Show. It is highly likely that this SUV model will be available in Vietnam later this year.

Although it has a design that is almost identical to the current version in the Vietnamese market, the 2024 HR-V Hybrid has a different grille design thanks to the arrangement of horizontal bars instead of diamond patterns as before.

It can be seen that the green car market in Vietnam is offering more and more choices from economy to luxury. This year promises to bring even more options for users, especially models from China.

Hybrid cars are expected to make a new breakthrough and make the Vietnamese car market more vibrant after a long and stagnant year. However, many hybrid models haven’t received attention from Vietnamese users due to inadequate design and pricing.

This includes models such as the Nissan Kicks, Suzuki Ertiga Hybrid, or Hyundai Santa Fe hybrid. Therefore, in addition to modern technology, price, and product quality, service is still a core factor that determines the success of a car model in a market that has already had many outstanding names.