The Ultimate Luxury MPV Arrives in Vietnam: A Recipe for Success?

2024 has been an exciting year for MPVs in Vietnam, with almost 10 new models launched across various segments, from affordable to luxury. The MPV market has witnessed intense competition, especially in the premium segment.

So, which models are leading in sales, and which ones are the rising stars? Let’s take a look.

Volkswagen Viloran: The Trailblazer

Although Volkswagen introduced the Viloran in late 2023, it remains a fresh and impressive newcomer. Recently, it won the ‘Car of the Year – Car Awards 2024’ in the MPV D-E segment. Viloran has successfully entered the mid-range to high-end MPV arena, previously dominated by the likes of Kia Carnival and Mercedes-Benz V-Class.

With its elegant design, befitting a German automotive brand, and a strategic pricing strategy, Viloran has carved a unique position in the market, increasing competition while avoiding direct confrontation with strong rivals.

Volkswagen Viloran. Image: Volkswagen Vietnam.

While Volkswagen does not disclose sales figures, the frequent sightings of the Viloran on Vietnamese streets attest to its success. With a price range of 1.889-2.188 billion VND across three versions, it strikes a balance, offering a more affordable option than the Mercedes-Benz V-Class while maintaining a competitive edge over its Korean competitor.

The Viloran has been a game-changer for the Volkswagen brand in Vietnam, which had previously struggled to find success with its sedan and SUV offerings. The success of the Viloran has prompted the company to open a new ‘City Store’ in Phu My Hung, Ho Chi Minh City, adopting a global standard model for brand and product experience without a service workshop.

Kia Carnival: Maintaining its Reign?

Kia also introduced the new Carnival in Vietnam in October, featuring design changes and adjustments in size and price. Compared to its predecessor, the latest Carnival offers more spaciousness and a more luxurious design aesthetic from front to back.

While the Carnival retains its safety features and interior/exterior equipment, it now includes additional ADAS safety functions. However, Kia has yet to introduce the hybrid variant, which has gained popularity internationally.

Despite the emergence of new competitors, the Carnival’s position in the mid-range MPV sales race remains solid. Thaco Vietnam has sold 5,320 units of the Carnival, leading the mid-range MPV segment among models with disclosed sales figures.

While new MPV models continue to enter the market, the Carnival’s market share may experience a slight dip, especially with the rising popularity of the Viloran.

Kia Carnival. Image: Thaco Vietnam.

The Kia Carnival is available in three versions, with two seating configurations: 7 or 8 seats. The Luxury 8-seater is priced at 1.299 billion VND, a 110 million VND increase from the previous model. The Premium 8-seater is offered at 1.479 billion VND, while the 7-seater variant costs 1.519 billion VND. The Signature 7-seater is priced at 1.589 billion VND.

GAC M8: Lacking Attention to Detail

The GAC M8 is the first MPV introduced by the Chinese automotive group in Vietnam, alongside the GS8 SUV. However, nearly four months after its launch, the M8 has failed to create a significant impact on consumers.

The M8 is not a disappointing vehicle; it boasts a luxurious design reminiscent of Lexus or Mercedes-Benz and is powered by a 2.0TGID engine that delivers 248 horsepower and 400 Nm of torque.

GAC M8. Image: Phuc Hau.

The M8 is offered in three versions, with prices ranging from 1.699-2.199 billion VND. While the pricing is not as competitive as other Chinese brands, it is considered reasonable given the design and features of the vehicle.

However, GAC’s lack of seriousness in its sales strategy and distribution network has affected the M8’s reputation. Despite being a prominent group in China, GAC currently operates only about seven dealerships nationwide, with a limited scale that integrates sales and service facilities.

The company has also not provided any updates on plans to establish a local assembly plant or long-term commitments to the Vietnamese market. If GAC adopts a more aggressive pricing strategy, the M8 could become a notable contender in the premium MPV segment, given its impressive technology and amenities.

Denza D9: Not Readily Available

At the Vietnam Motor Show (VMS 2024), BYD showcased the Denza D9, a luxury MPV from its joint venture with Mercedes-Benz. According to dealer sources, the model is now available for pre-order, with prices starting at around 3.3 billion VND.

The Denza D9 is not readily available in Vietnam, and customers must place an order with an estimated waiting time of 3-6 months. The vehicle is offered solely as a hybrid, with a combined range of approximately 1,040 km per charge.

Given its high price and limited version availability, the D9 is likely to remain a niche offering, catering to a select group of customers. It serves as a way for BYD to complete its product portfolio and gauge market interest, rather than aiming for high sales figures.

Denza D9.

BYD is one of the few Chinese automotive brands that has demonstrated a serious commitment to the Vietnamese market, with a well-established dealer network, attractive promotions, and after-sales service facilities. However, Vietnamese consumers remain cautious about Chinese-branded vehicles, especially in the premium segment.

BYD has not shown the same level of marketing and promotional efforts for the Denza D9 as it did for the Atto 3, Dolphin, or M6. Therefore, it is unlikely that the D9 will become a significant player in the luxury MPV segment. Nonetheless, BYD’s hybrid technology and market adaptation could pave the way for new opportunities in 2025.

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