What Car Should You Buy for 400 Million VND?

In recent years, Vietnam’s automotive market has witnessed a boom with the entry of new car brands and the introduction of various small and affordable models. With a budget of VND 400 million, Vietnamese customers now have a wide range of options to choose from, including brand new cars, pre-owned vehicles, gasoline-powered cars, and pure electric vehicles.

Gasoline-powered A-segment Cars

The A-segment for gasoline-powered cars in Vietnam has seen a reduction in the number of players. After the departure of VinFast Fadil and Honda Brio, the low-riding A-segment now includes Hyundai Grand i10, Toyota Wigo, and Kia Morning.

Hyundai Grand i10 is currently the best-selling model in this segment and offers the most diverse range of variants. Following its upgrade, the Hyundai Grand i10 continues to offer six versions across two variants, with prices ranging from VND 360 million to VND 455 million.

Hyundai Grand i10 offers the most diverse range of variants in the low-riding A-segment. Image source: TC Motor.

Toyota Wigo made a comeback in the Vietnamese market in 2023 with two variants. However, the MT version priced at VND 360 million has been discontinued. The Indonesian-imported model now only offers the G variant priced at VND 405 million.

Similarly, Kia Morning has also undergone a reduction in variants. The smallest model in Kia’s product lineup now only includes the MT and X-Line versions, priced at VND 349 million and VND 424 million, respectively.

Overall, gasoline-powered A-segment cars remain a suitable choice for young families and first-time car buyers due to their affordable price range and low maintenance costs. However, their market share is being impacted by competing segments and the emergence of urban electric vehicles.

Urban Electric Vehicles

Wuling Mini EV was the first model in the urban electric vehicle segment. After several updates, the Wuling Mini EV now only offers the LV2 variant, priced from VND 197 million.

Competing directly with the Wuling Mini EV in the small electric vehicle segment is the VinFast VF 3. After VinFast discontinued its battery rental policy, the VinFast VF 3 is now priced at VND 299 million.

VinFast VF 3 is one of the most affordable car options in Vietnam. Image source: Phương Lâm.

The recently launched Minio Green has replaced the VF 3 as the smallest model in VinFast’s electric vehicle lineup. Priced at VND 269 million, it primarily targets customers in the ride-hailing business but can also appeal to individual buyers as a first car.

The urban electric vehicle segment in Vietnam also includes A-segment models such as the VinFast VF 5 and Wuling Bingo. Among these, the Wuling Bingo 333 km, priced at VND 399 million, is the only option within the VND 400 million budget. TMT Motors, the distribution unit, previously announced plans to launch a standard version of the Wuling Bingo for VND 349 million in the first quarter, but there have been no further updates.

Wuling Bingo is another electric vehicle option within the VND 400 million budget. Image source: Phúc Hậu.

One of the key advantages of urban electric vehicles is their low operating costs compared to similarly sized gasoline-powered cars. In Vietnam, the availability of charging stations significantly influences customers’ decisions to purchase electric vehicles, in addition to brand considerations.

For Wuling MiniEV and Bingo owners, having a designated parking space at home with access to charging facilities is essential, limiting their target customer base. On the other hand, VinFast VF 3 owners can take advantage of VinFast’s extensive network of public charging stations, making it a more accessible option for urban commuters and a popular choice in recent times.

Small Sedans

In addition to the A-segment gasoline-powered cars, some small sedans in the B-segment and C-segment also fall within the VND 400 million budget.

For instance, the two MT variants of the Kia Soluto are currently priced at VND 386 million and VND 397 million, respectively. The sole AT version of this B-segment sedan is also reasonably priced at VND 422 million, only slightly exceeding the VND 400 million threshold.

Kia Soluto offers two variants below VND 400 million. Image source: Bối Hạ.

The Mitsubishi Attrage MT is currently priced at VND 380 million. However, during April, the Japanese carmaker is offering a promotional package that includes a 100% rebate on registration fees, fuel vouchers, and a rearview camera, totaling VND 48.5 million in benefits.

Another notable sedan in this price range is the New MG5. This C-segment sedan is a rare find in Vietnam, offering a size upgrade at a price comparable to, or even lower than, many A-segment gasoline-powered cars.

However, at VND 399 million, the New MG5 only comes with a manual transmission, halogen headlights, 15-inch steel wheels, a mechanical key, and fabric upholstery, among other basic features.

New MG5 offers the size of a C-segment sedan at a price comparable to A-segment cars. Image source: Vĩnh Phúc.

Generally, a budget of VND 400 million in the new car market will limit customers to the most basic versions of certain models across higher segments. These entry-level variants often lack advanced features and technologies, which may impact the overall user experience, especially for family-oriented buyers.

Pre-owned Vehicles

According to Đức Phúc, a representative of Thiên Mộc Auto, a pre-owned car dealership in Hanoi, the VND 400 million budget does not offer a wide range of newer models, mainly focusing on B-segment sedans.

“For example, a 2020 Toyota Vios G that has clocked 50,000 km is currently priced at around VND 415 million at our dealership. Similarly, a 2020 Hyundai Accent ATH with similar mileage is available for VND 400-415 million, depending on its condition,” shared Đức Phúc.

The pre-owned car market also offers limited options within the VND 400 million budget. Image source: TMA.

At Thiên Mộc Auto, customers can also find a 2021 Nissan Almera VL within this price range. This Thai-imported B-segment sedan has clocked approximately 50,000 km.

A quick search on Chợ Tốt Xe revealed a 2019 Mazda2 with 60,000 km on the odometer, listed for VND 400 million. A 2019 Ford Ranger with 170,000 km was also advertised on the website with an expected selling price of VND 400 million.

The VND 400 million budget can also accommodate the purchase of a 2020 Suzuki XL7 or a 2018 Ford EcoSport, both of which have clocked over 70,000 km.

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