The Electric Mini: A Slick Ride, but a Costly Gamble?

The VinFast VF 3: A sleek and modern electric vehicle. Photo by Phuong Lam.

The year 2023 marked a turning point with the introduction of the concept of “mini electric cars” thanks to the arrival of the Wuling MiniEV. This segment became even more competitive when VinFast announced its plans to produce the VF 3, a small electric car to rival the Chinese competitor.

Currently, this automotive group has only two representatives: the recently launched VinFast VF 3 and the Wuling MiniEV. However, in the secondary market, the appeal and price of these two models differ significantly.

Wuling MiniEV Resale Value Drops by 20% After Almost a Year

A tour of various Wuling MiniEV trading and online marketplace groups reveals that there aren’t as many second-hand mini electric vehicles for sale. Most of these vehicles are concentrated at dealerships, either bought back from previous customers or cleared out from test-drive fleets.

The low sales volume is the main reason why the second-hand market for the MiniEV is rather quiet.

According to a survey by Tri Thuc – Znews, the price of a used Wuling MiniEV ranges from 180 to 195 million VND, depending on the model and mileage. Specifically, a sales consultant at a Wuling dealership in the northern region shared that they have four used MiniEVs in stock, all LV2 models with a range of 170 km.

The Wuling MiniEV: A compact and efficient electric vehicle. Photo by Boi Ha.

One of the vehicles, painted in an exterior pink color and registered at the end of 2023, has only clocked about 7,000 km. The seller advertises that the car has been upgraded with floor mats, seat covers, heat-insulating film, and leather floor lining. The asking price for this Wuling MiniEV is 190 million VND, excluding name transfer and other incidental expenses.

Another dealership in the same region is selling a green MiniEV that has traveled over 16,000 km for 185 million VND.

Currently, the new Wuling MiniEV LV2 is priced between 197 and 231 million VND for the two different battery capacities. This means that after almost a year of use, sellers will incur a loss of about 40 to 50 million VND, equivalent to 20% of the car’s original value.

In the new car market, the price of the Wuling MiniEV has also been reduced by tens of millions of VND to clear inventory. Previously, the Wuling MiniEV LV2 was sold for 239 to 285 million VND. Now, this model is priced at 197 to 231 million VND.

Some dealerships are actively promoting the LV1 version with prices below 190 million VND. However, there is a limited choice of colors for this model, and dealers do not intend to stock more, focusing instead on clearing their existing inventory.

VinFast VF 3 Resale Price Increases by 50 Million VND

On the other hand, the Wuling MiniEV’s competitor is attracting buyers in the secondary market, with resale prices even higher than the original price.

This is understandable given the long waitlist for new VF 3s, with customers facing a wait of up to six months for their vehicles.

Some customers who have just received their leased-battery VF 3s are already reselling them for around 290 million VND, a premium of 50 million VND over the manufacturer’s suggested retail price.

For used VF 3s, prices range from 245 to 265 million VND for the leased-battery option. According to Tri Thuc – Znews, a VF 3 owner in Ho Chi Minh City is selling their leased-battery VF 3 in a dark green shade for 265 million VND. The car has only been driven for about 100 km since it was delivered in mid-September.

The VinFast VF 3: A stylish and eco-friendly choice. Photo by Phuong Lam.

VinFast is currently selling the VF 3 electric mini car for 240 to 322 million VND, depending on whether customers choose to lease or purchase the battery.

The higher resale price of the VF 3 is also influenced by the buying behavior of customers. Many individuals invest in exterior upgrades, additional technology features, and decorative accessories, ranging from tens to hundreds of millions of VND. This naturally increases the resale value of the vehicle.

VinFast is working diligently to fulfill over 20,000 pre-orders received during the first three days of sales. It is predicted that the resale price of the VF 3 will remain high for a few more months until supply and demand stabilize.

You may also like

The Ultimate Guide to Mercedes-Benz’s Dominance in Vietnam

The extension of the factory in Ho Chi Minh City for another five years, along with changes in leadership, could be the cornerstone for Mercedes-Benz to maintain its stronghold against an increasingly competitive market.

Revolutionizing Green Mobility: Holitech Leaps Forward with 1,000 Electric Vehicle Orders from FGF

On November 15th, FGF Company (For Green Future) signed a contract to lease 1,000 electric vehicles from Holitech, a leading provider of smart technology solutions for the travel and transportation industry in Binh Dinh.

“5 Auto Salon Bids, Old Gas Car Sells with Confidence, Upgrading to VinFast Electric Car.”

Many car owners who participated in the “Trade-In” program by VinFast and FGF expressed their satisfaction with the rigorous used-car valuation process and competitive pricing offered through a unique “auction” format involving at least five experienced automotive dealerships.

Revolutionizing the Skies: Xpeng’s Visionary Aerial Solution Offers a New Perspective.

The Xpeng flying car has completed its maiden public voyage and swiftly garnered over 2,000 orders from domestic high-rollers and billionaires. With a projected price tag of 6.5 billion VND, this aerial vehicle is set to revolutionize the transportation industry.

The Cadillac Vistiq 2026: A Sleek, All-Electric 3-Row CUV with a Stunning 2 Billion VND Price Tag.

Cadillac has unveiled its latest creation, the 2026 Vistiq, as part of its ambitious expansion into the electric vehicle market. This luxurious three-row crossover SUV sits elegantly between the Lyriq and the Escalade IQ, targeting dynamic families who seek a perfect blend of cutting-edge technology, opulent comfort, and a spacious interior.