Unlocking the Mystery of the Disappeared 350-Million-Dong Car in Vietnam

The small gasoline-powered car segment was once one of the most vibrant in the Vietnamese automobile market, but now there are only three representatives left. Some models in this segment have even had their versions cut, leaving Vietnamese customers with fewer options for low-clearance A-segment cars.

Small Gasoline Cars in the Price Range of 350 Million VND Are Almost Extinct

Currently, Vietnamese customers have limited choices when it comes to gasoline-powered cars in the price range of 350 million VND.

While the Toyota Wigo used to offer a manual transmission version priced at 360 million VND, it has been discontinued. The Kia Morning still has the MT version available for 349 million VND, but the AT, AT Premium, and GT-Line versions, which ranged from 399 to 424 million VND, have been eliminated.

Toyota Wigo and Kia Morning have had their versions cut in Vietnam. Images: TMV, Thaco.

The Hyundai Grand i10, the best-selling model in this segment, still offers six versions in two body styles: sedan and hatchback. The Grand i10’s price range starts at 360 million VND and goes up to 455 million VND.

In this price range, Vietnamese customers can only consider small electric cars such as the Wuling Mini EV (starting at 197 million VND), Minio Green (269 million VND), VinFast VF 3 (299 million VND), or the upcoming Wuling Bingo base model, which is expected to be priced at 349 million VND.

A common feature among the base models of these gasoline and electric cars is their relatively sparse equipment.

For example, the Kia Morning MT version features a basic central display screen, unlike the more advanced AVN system found in higher-end versions. As the most affordable gasoline-powered car on the market, it also comes with a mechanical key, lacking parking sensors, a rearview camera, or LED daytime running lights.

The Hyundai Grand i10, in its 360 million VND hatchback manual transmission version, does not include a central touchscreen infotainment system. It also lacks a rearview camera and rear parking sensors, comes with 14-inch steel wheels, and has only one airbag.

In the electric car segment, the Minio Green, priced at 269 million VND, is VinFast’s most affordable electric car. It features a 3-door design, 13-inch wheels, and a 170 km range, targeting customers who primarily use their vehicles for ride-hailing services.

The Wuling Bingo base model, priced at 349 million VND, comes with a mechanical key and handbrake, and does not include a central infotainment screen. The seats in this version are also upholstered in fabric, and the door trims are plastic.

The base version of the Wuling Bingo has reduced equipment and fabric-upholstered seats. Image: Phúc Hậu.

Overall, most of the choices in the 350 million VND price range are either small in size or have reduced equipment and features to keep the price low.

The main advantage of these affordable cars used to be their price, which attracted customers in the ride-hailing and delivery services industries.

However, as living standards have improved and small urban electric cars have become more popular, the appeal of these inexpensive gasoline-powered cars has diminished, leading some models to withdraw from the market.

Why Small Cars Are Disappearing

At this point, the base models of gasoline-powered cars that are still available in Vietnam are mostly there to “complete the lineup” and lower the starting price for each car series.

Vietnamese customers are not particularly interested in manual transmission versions, and the lack of basic features such as a central touchscreen, push-button start, and other modern conveniences makes the low price less appealing.

The cheapest versions of cars are often just for “completing the lineup”. Illustrative image: Phúc Hậu.

In addition to “completing the lineup” and price list, the base models of each car series also serve as a reference point for comparisons, encouraging customers to consider higher-end versions with more features, where the price difference is not too significant.

For example, when the Toyota Wigo returned to the Vietnamese market in 2023, it offered two versions: one with a manual transmission priced at 360 million VND and the G version with a continuously variable transmission (CVT) priced at 405 million VND.

The E version of the Wigo lacked blind-spot monitoring and rear cross-traffic alert features. It also had 14-inch steel wheels instead of the alloy wheels found on the higher-end version.

The discontinuation of the Toyota Wigo E version at the beginning of this year may indicate that the appeal of base models has diminished for Vietnamese customers.

In the 350 million VND price range, Vietnamese customers seem to want more. They are not just looking for a means of transportation but also expect modern features and safety technologies. Even if the car is not overly sophisticated, it should not be so sparse in features that it feels barebones.

On the other hand, car manufacturers do not seem very enthusiastic about offering small, inexpensive cars. For example, in the US, many car brands have discontinued their low-priced models, with Carscoops citing thin profit margins as the main reason.

Ford Focus has been discontinued in many markets due to thin profit margins. Image: Ford.

The popularity of SUVs and large, high-riding vehicles in the global automotive industry is also driven by this reason. According to an article published in Industry Week, SUVs are popular because they offer good sales performance and higher profit margins for automakers.

As mentioned earlier, there are currently limited options for cars in the 350 million VND price range in Vietnam, and most of those options are small urban electric cars.

In the future, it is likely that small, inexpensive gasoline-powered cars will disappear, making way for small electric cars with 3 or 5 doors, 2 or 4 seats, short ranges, affordable prices, and attractive designs.

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