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The year 2024 marks a significant shift in the Vietnamese automotive market, with a wave of Chinese automakers making their way into the country. Since the beginning of the year, a multitude of Chinese brands have either already established themselves or are preparing to enter the Vietnamese market.
Some of these brands have a long history in Vietnam, while others focus on commercial vehicles or take a cautious approach by spending years studying the market before officially launching their products. Regardless of their strategy, Chinese automakers are gradually filling the Vietnamese market across various segments.
Small Cars
There are currently no Chinese-branded small gasoline cars in the Vietnamese market. However, the Wuling Mini EV, a battery electric vehicle, was the first to debut in this segment.
Although not a massive success, the Wuling Mini EV paved the way for mini electric cars, with the latest entrant being the VinFast VF 3.
The Wuling Mini EV is currently available in the LV2 version in Vietnam, with prices ranging from VND 197 million to VND 231 million, depending on the maximum range.
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Recently, the distributor of the Wuling brand introduced the Wuling Bingo, a larger electric car compared to the Mini EV.
Positioned in the hatchback/SUV A-segment, the Wuling Bingo goes up against competitors such as the Hyundai Grand i10, Toyota Wigo, Kia Morning, Kia Sonet, Toyota Raize, Hyundai Venue, and VinFast VF 5.
The Wuling Bingo is initially offered in two versions: 333 and 410, priced at VND 399 million and VND 469 million, respectively. The remaining two versions are expected to be available in the first quarter of 2025.
Sedans
In the sedan segment, the MG5, GAC Aion ES, MG7, BYD Seal, and BYD Han represent Chinese automakers in the Vietnamese market.
The MG5 is a familiar name to Vietnamese consumers, offering the dimensions of a C-segment sedan at a competitive price of VND 488 million to VND 528 million, similar to B-segment cars such as the Toyota Vios, Hyundai Accent, and Honda City.
The New MG5, introduced in 2022, features a manual transmission and a starting price of VND 399 million, comparable to A-segment gasoline cars in Vietnam.
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The Aion ES, an electric sedan from GAC’s Aion brand, is the company’s first offering in Vietnam. Positioned between the C and D segments, the Aion ES has a relatively competitive price of VND 788 million. However, its cabin is considered unremarkable.
BYD, another Chinese automaker, offers the BYD Seal and BYD Han electric sedans in Vietnam. The BYD Seal, launched in July, comes in two versions priced at VND 1.119 billion and VND 1.359 billion, respectively. The BYD Han, introduced last month, sits in a higher segment and has a single version priced at VND 1.489 billion.
The MG7, introduced recently, has three versions in Vietnam, with prices starting from VND 738 million to VND 1.018 billion.
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“MG5 and MG ZS: Massive Discounts of up to 60 million VND”
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The Wuling Bingo: Incompatible with Vietnam’s Public Charging Network
The Wuling Bingo comes equipped with a GB/T charging port, which is a common standard in China. However, without an adapter, it cannot be charged at public charging stations in Vietnam as the charging system is incompatible.
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Compared to the listed price, the 2023 MG RX5 STD variant is a whopping 224 million VND cheaper.
“The Buzz Around Wuling Bingo’s Anticipated Launch in Vietnam: Starting Price Rumored at 470 Million VND for the Base Model”
Wuling Bingo is set to launch in Vietnam with two exciting variants: the Bingo 333 and Bingo 410. With anticipated price tags of 470 million VND and 530 million VND respectively, the Bingo series promises to offer exceptional value and a unique driving experience.
