Looking for a cost-effective SUV? 2025 is approaching, and the market is offering many SUV preferential policies you shouldn’t miss! Whether you’re a first-time buyer or upgrading your current vehicle, SUV financing and cashback programs provide multiple options.
I. The Real Situation of Vietnam’s SUV Market in 2025
Car dealers might not tell you this: In 2024, Vietnam’s auto market faced inventory surplus (**total supply exceeded 620,000 vehicles, but only 510,000 were sold**). Meanwhile, 2025 will see a series of new models. This leads to:
1. Inventory Pressure Causes Sharp Price Drops
Automakers and dealers are offering record-breaking discounts to clear inventory, e.g.:
- Mazda CX-5: 70–100 million VND discount
- Hyundai Santa Fe: 150 million VND discount
- Mitsubishi Outlander: 120 million VND discount + free maintenance package
- Domestic models like VinFast VF 5 also adjust prices to compete.
2. Financial Support & Registration Fee Reductions
- Toyota and Honda waive 50%-100% registration fees for multiple models (e.g., Honda CR-V offers up to 250 million VND waiver).
- Mitsubishi Triton: 10–28 million VND registration fee discount.
- Ford Ranger: Direct 10–14 million VND discount.
3. Budget SUVs Become a Trend Vietnamese consumers prioritize SUVs balancing quality and cost:
- Compact SUVs: Hyundai Creta and VinFast VF5 are popular for fuel efficiency, flexible space, and prices comparable to sedans.
- Electric SUVs: VinFast launches Limo Green (470km range) and Minio Green, focusing on the service market.
II. 2025 Market Trends
Despite high 2024 inventory, automakers remain optimistic about Vietnam’s market. With government support policies, consumers will have more choices in 2025:
1. Fierce Competition from Electric Vehicles
- Chinese brands like BYD and Geely enter the market with hybrids , directly competing with VinFast.
- Policy Change: From March 2025, Vietnam’s EV registration tax will gradually increase to 50% of petrol car tax rates, potentially impacting short-term demand.
2. Rise of MPVs and SUVs
- Vietnamese consumers shift to multi-purpose vehicles: Mitsubishi Xpander and Toyota Veloz (B-segment CUVs) account for a large sales share.
- Chinese MPVs like BYD M6 and MG G50 gain market traction with high specs and low prices.
3. Traditional and New Brands Coexist
- Toyota and Hyundai maintain market share with hybrid lineups (e.g., Toyota HEV).
- VinFast expands its product portfolio, focusing on electric SUVs and MPVs for individuals and businesses.
III. Tips for Car Buyers
- Utilize "Shock Pricing" Promotions: Companies are offering discounts to clear inventory, but prices may rise again when the market stabilizes.
- Consider Electrification Trends: Entry of Chinese brands may stimulate competition, bringing more incentives for EV buyers.
- Comprehensive Evaluation: Beyond pricing, assess warranty policies, operating costs (fuel/electricity), and future tech adaptability.
Note: Information in this article is compiled from public sources and may have changed. For specific offers, refer to official dealer announcements.