In March, VinFast again drew attention as sales of its two all-electric seven-seater models, the Limo Green and VF MPV 7, were two to three times higher than their gasoline rivals. The strong appeal of this MPV duo has effectively created a unique market for VinFast, a brand that entered later but is now disrupting the established order.

The VinFast Limo Green, an all-electric model primarily for ride-hailing services, sold 6,795 vehicles in March, an increase of nearly four times compared to the previous month. The VF MPV 7, a more premium version sharing the same platform and targeting family customers, sold 2,521 vehicles, more than double its sales from the previous month.

Combined sales for the two seven-seater models exceeded 16,157 vehicles after the first quarter, capturing 85% of the mid-size MPV segment priced under one billion VND in Vietnam (out of 18,992 vehicles). No longer the VF 3, the Limo Green is now VinFast's best-selling model.

Over recent months, Limo Green (749 million VND) sales have remained exceptionally high compared to gasoline models. This is attributed to its specialized use for ride-hailing services and its significantly lower price than the Hyundai Custin (820-974 million VND) and Toyota Innova Cross (730-960 million VND). Strong demand from transportation service companies is providing stable sales for VinFast's seven-seater model. The company's free charging policy, the government's registration fee exemption, low operating costs, and dealer pricing incentives further support the appeal of both the Limo Green and VF MPV 7.

VF MPV 7 in Vietnam. Photo: VinFast

The VF MPV 7 (819 million VND) is a more direct competitor to Japanese and Korean products compared to the Limo Green. VinFast's model also boasts superior sales. Excluding the version dedicated to ride-hailing services, VF MPV sales account for over 50% of the segment's market share.

In the gasoline vehicle segment, the Toyota Innova Cross remains the best-selling model. In March, more customers purchased the hybrid version of the Innova Cross than the gasoline version. This was due to the Japanese manufacturer's 45 million VND price reduction for the hybrid version starting mid-February, along with improved supply after Tet Lunar New Year.

For the Hyundai Custin, cumulative sales of 316 vehicles after the first quarter indicate a clear struggle compared to its rivals. Hyundai's MPV model has not received any design or feature upgrades for several years. This has partly diminished the Custin's appeal, as the market now offers more choices beyond Toyota's competition, especially with VinFast's all-electric vehicles and products from Chinese brands.

The mid-size MPV segment also includes other products such as the MG G50, BYD M6, and GAC M6 Pro, but their sales figures are not publicly disclosed by the manufacturers.

Pham Trung