The small MPV segment saw the Mitsubishi Xpander continue its dominance in early 2026, significantly outselling rivals. Mitsubishi's Xpander remains the best-seller, securing nearly 30% of the segment's total sales.

In January 2026, the Xpander sold 1.094 units, leading the segment but experiencing the sharpest decline at 57,5% among its competitors. A rush of customer purchases in December 2025, driven by major promotions and the urgency to register vehicles before Tet (Lunar New Year) holidays, caused demand to drop significantly the following month.

The Toyota Veloz, the segment's second best-selling model, also saw a decline, second only to the Xpander, at 34,3%. Veloz sales exceeded 860 units, securing approximately 23% of the total segment market share.

From left to right: Xpander, XL7, Stargazer, Veloz. *Photo: MMV, Thanh Nhan, HTC, TMV*

The Avanza remains the weakest performer in terms of sales within the small MPV segment. Its sales have consistently declined over the past two years. Maintaining the same configuration for many years without significant upgrades has diminished the competitiveness of this twin model, positioned below the Veloz, in the market.

Compared to December 2025, total sales for the small MPV group in January 2026 reached 3.758 units, a decrease of over 33%. Reflecting the segment's overall decline, models such as the Kia Carens and Honda BR-V also saw sales drop by 8,8% and 14,5%, respectively.

A promotion offering 100% registration fee exemption, combined with individual dealer policies, spurred sales increases of over 25% for the two lowest-priced models in the segment: the Suzuki XL7 and Hyundai Stargazer. The XL7 sold 427 units, and the Stargazer sold 421 units, ranking 4th and 5th in the segment, respectively.

After the Tet Nguyen dan (Lunar New Year) holiday, Hyundai Thanh Cong will likely boost the small MPV segment with the introduction of a mid-cycle refreshed Stargazer. The vehicle has already arrived in Vietnam to complete registration procedures, and dealers are currently accepting customer deposits for early deliveries.

Pham Trung