Market

With a staggering $2 billion investment in the fledgling electric vehicle manufacturer VinFast, Phạm Nhật Voung exudes an air of serene confidence. His ambition is to leave behind a green legacy. The Vingroup chairman emphasizes that the aggressive push behind VinFast is to elevate Vietnam's manufacturing sector onto the world stage. VinFast, he asserts, is more than just a business venture; it's a passion project. The company is focused on producing reasonably priced vehicles that offer true value, steering clear of the budget end of the market.

In the MPV segment, most models continue to see a decline in sales, with the Mitsubishi Xpander being a notable exception. This versatile vehicle has bucked the trend and captured the attention of consumers, becoming a shining star in an otherwise lackluster market.

The Kia K3 witnessed a boost in sales during May 2024, in contrast to the Mazda3, which experienced a decline in the same period.

Jaguar Land Rover is taking its plug-in hybrid (PHEV) and battery electric vehicles (BEV) to the next level, with plans to develop these models based on a platform crafted by Chery. This strategic move underscores the brand's commitment to innovation and sustainability, as it gears up to offer customers an enhanced driving experience that's both environmentally conscious and technologically advanced.

The Kia Sonet is the only model to have experienced a decline in sales within the A-SUV segment.

Introducing the MG5 MT - now even more affordable than its listed price.

To accelerate the clearance of existing inventory, select dealerships have introduced exclusive incentives on the Nissan Kicks.

With this pricing strategy, the Haval H6 positions itself as one of the most affordable hybrid vehicles in Vietnam, joining the ranks of the Toyota Yaris Cross and Nissan Kicks.

The Mitsubishi Outlander may be the top-growing C-segment SUV in terms of sales figures, but its rival, the Honda CR-V, paints a contrasting picture.

Despite the buzz surrounding the upcoming release of the new Hyundai Grand i10 in June 2024, the current model continues to be a strong contender in the compact car segment.