What are Luxury Car Brands Doing in Vietnam?

The automotive industry has witnessed the arrival of new models from luxury brands over the past year. Some of these newcomers have instantly become strategic products, driving sales for their respective manufacturers. Others have been introduced as symbolic offerings, marking the brands’ journey and evolution.

Mercedes-Benz Unveils All-Electric G-Class

First introduced in 2016 at the Paris Motor Show, EQ marked the beginning of Mercedes-Benz’s electrification strategy. However, the EQ models failed to live up to sales expectations, prompting the brand to shift focus. The EQ lineup in Vietnam also fell short of sales targets, leaving the German automaker reliant on internal combustion engine vehicles.

In early April, Mercedes-Benz Vietnam introduced the all-electric G 580 EQ SUV.

G 580 EQ is the latest offering from Mercedes-Benz. Photo by Phúc Hậu.

While EQ models typically target tech-savvy customers, the G 580 EQ takes a different approach. This all-electric SUV retains the iconic design of its gasoline-powered counterpart, appealing to fans of the G-Class. Equipped with four independent electric motors, it delivers a combined output of 587 horsepower and a staggering 1,164 Nm of torque. The lithium-ion battery pack offers a range of up to 434-473 km on a single charge.

This newcomer serves as a symbolic product, marking the end of the EQ sub-brand and Mercedes-Benz’s once ambitious electrification plans. The brand’s sales performance still relies on strategic models like the C-Class and E-Class.

Mercedes-Benz Vietnam is facing challenges, with aging gasoline models and controversial new designs. The inventory of 2022 models remains a burden, reflected in ongoing cash discounts offered on their website. While the exact amount is not disclosed, the incentives are significant, likely exceeding 100 million VND per vehicle based on previous promotions.

Volvo Introduces First Electric SUV, EC40

In late 2024, Volvo launched its first all-electric model, the EC40, in Vietnam. With its distinctive design and innovative powertrain, the EC40 is expected to make a splash in the market. It is also the most accessible luxury all-electric SUV in Vietnam in terms of pricing.

The EC40 is the first Volvo model to carry the EC prefix, signaling the brand’s commitment to electrification by 2030. Powered by two motors, it delivers 408 horsepower and 670 Nm of torque. A 78 kWh lithium-ion battery provides an impressive range of up to 510 km on a single charge.

Volvo EC40 marks a new era for the brand in Vietnam.

However, with a starting price of 1.739 billion VND, the EC40 may struggle to attract mainstream buyers. For affluent customers, other options like the Porsche Macan EV or BMW iX3 may be more appealing for a higher price.

Porsche’s Success with the Macan EV

Porsche is a rare example of a luxury brand in Vietnam that has thrived with its transition to electric vehicles. The introduction of the Macan EV in late 2024 boosted the brand’s sales performance.

Porsche Vietnam’s success is attributed to the Macan EV.

This success is understandable given that the Macan is the most accessible model in Porsche’s lineup in Vietnam. Compared to the Taycan, the Macan offers more versatility and practicality for various usage scenarios.

In Europe, the Macan is now exclusively available as an electric vehicle. In Vietnam, customers still have the option to choose between the EV and ICE versions. The Macan EV is equipped with front and rear electric motors, generating a maximum output of 408 horsepower and 650 Nm of torque. With a range of 516-613 km on a single charge, it competes with the Audi Q8 e-tron, Mercedes EQE SUV, and BMW iX3 in the same price range.

Rolls-Royce Introduces Ghost Series II in Vietnam

In mid-April, Rolls-Royce unveiled the Ghost Series II in Vietnam, a mid-life facelift with a color palette inspired by the Caribbean. The design of the “Ghost” is contemporary, with subtle hints of Cullinan and Phantom cues. It retains the 6.75L V12 twin-turbo engine, producing 571 horsepower and 850 Nm of torque.

Rolls-Royce Ghost Series II. Photo by Đan Thanh.

Priced at 34.98 billion VND for the standard wheelbase and 38.94 billion VND for the Extended Series II, the Ghost has never been a car for the masses.

Aside from these newcomers, other luxury brands have maintained a low profile in the market. BMW, however, has been actively engaging customers through test drive events, gaining a competitive edge over its German rival, Mercedes-Benz.

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