While VinFast dominates the battery electric vehicle (EV) segment, Toyota has emerged as the most popular brand in the self-charging hybrid electric vehicle (HEV) market in Vietnam.
Toyota offers six HEV models, the widest selection among mainstream manufacturers in Vietnam. The brand sold 3,174 hybrid vehicles in the first quarter, marking a 114% increase compared to the same period in 2025. This volume represents 61% of the total hybrid market share.
The Corolla Cross, Alphard, and Yaris Cross models recorded the highest growth rates within Toyota's product range, increasing by more than two, three, and seven times respectively compared to the first quarter of 2025. Conversely, sales of the Camry and Altis declined due to supply chain issues.
Toyota's overall hybrid vehicle sales saw a significant boost from price reductions ranging from dozens to hundreds of millions of VND. Under Decree 360/2025, effective from 2026, HEVs with petrol consumption not exceeding 70% of total energy consumption receive a 30% reduction in special consumption tax. All Toyota hybrid models met this requirement, leading the company to implement price cuts of 37-200 million VND, depending on the model, during the first quarter.
In the first quarter, Kia Sorento and Carnival hybrid models did not record any sales. Hyundai also offers the Santa Fe hybrid, but the company has not released its sales figures.
Sales of the Sorento and Carnival hybrid models have been very low compared to the overall hybrid market. For example, in 2025, the Sorento hybrid (including the plug-in hybrid electric vehicle - PHEV variant) sold 106 vehicles, averaging nearly nine vehicles per month. In contrast, the Innova Cross was the best-selling hybrid in 2025 with 3,021 units sold, 28 times more than the Sorento. Kia plans to launch a lightly updated Sorento hybrid in april.
The presence of Korean car brands in the HEV segment is subdued, while Japanese manufacturers virtually monopolize the market. Beyond Toyota, Suzuki and Honda are also ramping up distribution of their hybrid vehicle lines.
Suzuki offers three mild-hybrid (MHEV) models: the XL7, Fronx, and Swift, though only the XL7 has specific sales data. The brand sold 779 hybrid vehicles, capturing 15% of the market share. Honda, with its Civic, HR-V, and CR-V hybrid models, sold 1,227 vehicles, accounting for 24% of the market share.
Among individual products, the Corolla Cross stands as the best-selling hybrid in the market. The Altis is the slowest-selling model, and this sedan is likely to be discontinued in the near future. The mainstream hybrid segment also includes some products from Chinese manufacturers, but specific sales data is not available.
Pham Trung
