The MPV Sales Slump of August 2024: A “Spooky” Month for All, Including the Mitsubishi Xpander

In August 2024, most car segments in Vietnam experienced a decline in sales, including the MPV segment, which was affected by the lunar seventh month and Vietnamese consumers’ wait-and-see attitude due to expected reductions in registration fees.

MPV sales table for August 2024 (unit: cars)

Mitsubishi Xpander: 1,003 cars

August 2024 saw a slump in Mitsubishi Xpander’s sales, with a 32.7% decrease to 1,003 cars. However, this model still topped the MPV segment and ranked among the top 10 best-selling cars in the overall market.

In September 2024, the Mitsubishi Xpander continues to offer attractive promotions. The brand offers to cover the full registration fee for the AT Premium and Cross versions, valued at VND 66-70 million. Customers who purchase these versions will also receive a 360-degree camera worth VND 20 million. Meanwhile, the locally assembled MT version is eligible for a 50% discount on the registration fee as per government policy, along with a free reverse camera worth VND 2.5 million.

The Mitsubishi Xpander is currently available in Vietnam with four versions, priced between VND 560-698 million. Besides its affordable price, this MPV impresses with its eye-catching exterior design, spacious interior, and adequate convenience features.

The Mitsubishi Xpander is powered by a 1.5L 4-cylinder gasoline engine that produces 105 horsepower and 141 Nm of torque. The engine is paired with a front-wheel drive system and a 4-speed automatic or 5-speed manual transmission.

Toyota Veloz Cross: 538 cars

Similar to its rival, the Toyota Veloz Cross also experienced a sales decline in August, with 538 cars sold, a 29.7% decrease. However, it managed to maintain its second position in the MPV segment.

In September 2024, Toyota is offering a 50% discount on the registration fee for the Veloz Cross. Combined with the government’s support, this MPV effectively has a 100% registration fee waiver, equivalent to a value of VND 64-66 million.

The Toyota Veloz Cross is available in Vietnam with two versions, priced between VND 638-660 million. Compared to the Mitsubishi Xpander, the Toyota model has a higher starting price but offers advantages such as a reputable brand and advanced ADAS safety features.

This MPV is equipped with a 1.5L 4-cylinder gasoline engine that generates 105 horsepower and 138 Nm of torque, paired with a CVT transmission.

Toyota Innova Cross: 406 cars

Contrary to the Veloz Cross, the Toyota Innova Cross witnessed significant sales growth in August, with 406 cars sold, a 46.7% increase. With this result, the Toyota Innova Cross climbed to third place in the MPV segment.

The Toyota Innova Cross is available in Vietnam with two versions: gasoline and hybrid, priced between VND 810-990 million. The highlight of this MPV is that both versions offer similar convenience and safety features. The most significant difference lies in their engines.

The gasoline version is equipped with a 2.0L 4-cylinder engine that produces 172 horsepower and 205 Nm of torque. It is paired with a Direct Shift CVT transmission. On the other hand, the hybrid version uses a 150-horsepower gasoline engine combined with an 111-horsepower electric motor and a CVT transmission.

Hyundai Stargazer: 377 cars

In August 2024, Hyundai sold 377 units of the Stargazer, a 38.9% decrease. This model ranked fourth in the MPV segment.

The Hyundai Stargazer is currently priced between VND 489-599 million in Vietnam, making it one of the most affordable MPVs in the market.

The upgraded version of the Hyundai Stargazer, introduced in Vietnam in May 2024, boasts a robust SUV-like exterior design and new features such as an electronic parking brake, Auto Hold temporary brake function, rear disc brakes, and front collision sensors.

Under the hood, the Stargazer is equipped with a Smartstream G 1.5L 4-cylinder naturally aspirated gasoline engine that delivers 115 horsepower at 6,300 rpm and 144 Nm of torque at 4,500 rpm. The engine is paired with an intelligent iVT CVT transmission and front-wheel drive.

Kia Carens: 366 cars

Right behind the Hyundai Stargazer is the Kia Carens, another model from the same automotive group. With 366 cars sold, its sales decreased by 7.1%. This was a rare month when the Carens outsold its sibling, the Kia Carnival.

The Kia Carens is available in Vietnam with seven versions, priced between VND 589-779 million. Thus, it is the MPV with the most versions on the Vietnamese market. Additionally, the Kia Carens is one of the few 6-seater MPVs available in the country.

Similar to its diverse versions, the Kia Carens also offers a wide range of engine options, including a 1.5L naturally aspirated gasoline engine, a 1.4L turbocharged gasoline engine, and a 1.5L diesel engine. These engines deliver maximum power ranging from 113 to 138 horsepower and maximum torque from 144 to 250 Nm. They are paired with manual, 6-speed automatic, iVT CVT, or 7-speed DCT transmissions.

Kia Carnival: 280 cars

The Kia Carnival was among the MPVs with the highest sales decline in August 2024, with only 280 cars sold, a 44% decrease. This decline was expected as August 2024 was just before the launch of the upgraded version of the Carnival.

On September 16, 2024, Kia quietly launched the new Carnival in Vietnam, offering four versions priced between VND 1.299-1.589 billion, a significant increase compared to the previous version. However, the 2025 Kia Carnival has been considerably improved in terms of design and features.

The highlight of the new Carnival is its new curved display, combining a fully digital LCD instrument cluster with a 12.3-inch AVN infotainment screen. Additionally, it introduces new safety features such as eight airbags, front/rear/side parking sensors, forward collision-avoidance assist, blind-spot collision-avoidance assist, rear cross-traffic collision-avoidance assist, safe exit assist, and more.

Furthermore, the Kia Carnival no longer offers the 3.5L gasoline engine. Instead, it is now powered by a 2.2L Smartstream 4-cylinder DOHC diesel engine that produces 199 horsepower and 441 Nm of torque, paired with an 8-speed automatic transmission and front-wheel drive. In the future, it may also be equipped with a new hybrid engine shared with the Kia Sorento.

Hyundai Custin: 217 cars

Unlike the Stargazer, the Hyundai Custin experienced sales growth in August, with 217 cars sold, a 24% increase.

The Hyundai Custin is available in Vietnam with three versions, priced between VND 820-974 million. As a locally assembled vehicle, it is eligible for a 50% discount on the registration fee as per the government’s policy.

As a direct competitor to the Toyota Innova Cross, the Hyundai Custin offers a spacious 7-seater interior, diverse convenience and safety features, and two engine options: a 2.0L Turbo GDi and a 1.5L Turbo GDi. These engines deliver 236 horsepower/353 Nm and 170 horsepower/253 Nm, respectively, and are paired with an 8-speed automatic transmission and front-wheel drive.

Honda BR-V: 208 cars

In August, all Honda car models experienced a sales decline, including the BR-V, which sold 208 cars, a 38.8% decrease.

To compete with locally assembled rivals, Honda is offering a 50% discount on the registration fee for the BR-V in September 2024, equivalent to a value of VND 33-35 million.

The Honda BR-V has a less competitive price range of VND 661-705 million. Compared to other small MPVs, it is relatively more expensive. However, it boasts an attractive SUV-like design and advanced ADAS safety features as standard.

The Honda BR-V is powered by a 1.5L i-VTEC 4-cylinder DOHC gasoline engine that produces 119 horsepower and 145 Nm of torque. It is paired with a CVT transmission and front-wheel drive.

Toyota Avanza Premio: 129 cars

In August, Vietnamese customers purchased 129 units of the Toyota Avanza Premio, a 31