The Ultimate Family Cruiser: Exploring the MPV Segment’s Revival at the 600 Million Dong Mark

According to a report by the Vietnam Automobile Manufacturers’ Association (VAMA), Vietnam’s automobile market consumed a total of 25,764 vehicles of all types in May, a 6% increase from the previous month. Among these, the passenger car group recorded 18,235 units sold, equivalent to the average growth rate of the entire market.

The affordable MPV segment, priced at around VND 600 million, also showed positive signs of sales recovery after a challenging start to the year. The group recorded 3,545 vehicles sold, a 17.2% increase from April. This was also the best performance of this MPV segment since the beginning of the year, second only to the report in March.

Mitsubishi Xpander Dominates, Toyota Veloz Closes the Gap

After a month of “cooling down,” the sales of the “MPV king” Mitsubishi Xpander rebounded, reaching 1,766 units, equivalent to a nearly 40% increase from the previous month. This was also the best sales report for the “MPV king” since the beginning of the year. In the first five months of the year, Mitsubishi sold 5,936 Xpanders, accounting for nearly 40% of the market share in the affordable MPV segment.

On average, approximately 58 Xpanders were delivered to customers each day. This figure not only solidifies its dominance in the segment but also maintains its reign in the overall Vietnamese automobile market.

In addition to the Xpander, the Toyota Veloz is also showing positive signs, with sales consistently growing. In May, this MPV model continued to surpass its annual record, selling 604 units, a 15% increase from the previous report.

Earlier in the first quarter, Veloz was among the slow-selling models in the segment, with no month recording sales above 260 units. In March, Toyota sold only 146 Veloz units, causing this model to quickly fall behind the Honda BR-V, Kia Carens, and Suzuki XL7.

The newly launched Hyundai Stargazer X in April recorded its first successful sales report. According to TC Group, Hyundai sold 444 Stargazer X units, quickly positioning the model as the third best-selling vehicle in the market, previously held by the Kia Carens (293 units).

In Vietnam, the Hyundai Stargazer X will be available at Hyundai dealerships from May onwards, offering a total of three versions, including the Standard (VND 489 million), X (VND 559 million), and X Premium priced at VND 599 million.

Suzuki XL7 Sells Below 20 Units, Honda BR-V Cools Down

Similar to the previous month, Suzuki XL7 created a surprise in May, but this time, its performance took a downturn, selling only 15 units. In March and April of this year, this MPV model unexpectedly made an impressive comeback, surpassing the 600 units/month mark, followed by a slight decrease to 391 units.

Suzuki XL7. Photo: Hai Ba

According to multiple sources, Suzuki Vietnam is planning to introduce the hybrid variant of the XL7 model to the Vietnamese market, replacing the Ertiga Hybrid and the gasoline-powered XL7. Suzuki dealerships are currently focusing on clearing their existing inventory, which could be a factor contributing to the significant drop in XL7 sales.

Honda BR-V also experienced a less successful May, with sales decreasing by about 20% to 256 units. Excluding February, which was affected by the Tet holiday, this was the month with the lowest sales for this MPV model so far this year.

In the first five months of the year, Honda Vietnam sold 1,304 BR-V units, a figure even lower than the average monthly sales of its competitor, the Mitsubishi Xpander.

Honda BR-V. Photo: Vinh Phuc

Kia Carens also faced a sales decline as the overall market recovered. In May, the Kia MPV sold 293 units, equivalent to a 16% drop from the previous report. By the middle of the second quarter, Thaco had sold 1,479 Carens units.

Overall, the slight growth in segment sales indicates a positive trend as the entire market is in the preparation stage, awaiting the proposed reduction in registration fees. If this plan materializes, the Vietnamese automobile market, including the MPV segment, will witness further growth.

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