The multi-purpose vehicle (MPV) segment has undergone rapid market share transformation in the past two years, marked by the emergence of new electric models, particularly from VinFast. The Limo Green and subsequently the VF MPV 7 have established a dominant sales advantage over other competitors.
In the first half of 2026, the top two best-selling models were both VinFast products. While the sales volume of the VinFast MPV 7 still allowed rivals to compete, Limo Green's sales were nearly unattainable for others.
The Limo Green shares its platform with the VF MPV 7 and is designed for ride-hailing services. This model is a popular bulk purchase choice for many businesses, especially Green SM (formerly Xanh SM), in addition to individual customers. Although the VinFast model entered the market later than its competitor, the BYD M6, its diverse charging station network optimizes the Limo Green for passenger transport services.
VinFast Limo Green is not only the best-selling MPV overall, and specifically in the mid-size MPV segment, but also the most popular model across the Vietnamese market. Limo Green has replaced the VF 3 as VinFast's main sales driver.
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A Limo Green (yellow plate) operating as a ride-hailing service in TP HCM. *Pham Trung*
Mitsubishi offers one model in the MPV segment: the Xpander. When considering only internal combustion engine vehicles, it is the best-selling product in the entire segment.
The Xpander's strength has been consistent for seven years, attributed to its popular design and accessible price point. Mitsubishi Xpander sales in the first half of 2026 saw a slight decrease of nearly 5% compared to the first half of 2025 but remained the top seller in the small MPV segment.
For Toyota, the Innova Cross (mid-size) is now the most popular MPV, surpassing the Veloz or Avanza (small-size). The introduction of a lower-priced version (730 million dong) in late 2025 boosted Innova Cross sales in the first half of 2026. Toyota's model flexibly meets both personal and ride-hailing business needs.
Models from Hyundai (Stargazer, Custin), Suzuki (XL7), and Honda (BR-V) add to the overall MPV options but do not have significant sales. None of these models sold more than 2,500 units in the past six months, averaging 416 vehicles per month.
The Kia Carnival continues to lead the large MPV segment despite a 10% sales decrease compared to the first half of 2025. The Toyota Alphard, priced at 4.415 billion dong and imported from Japan, is the lowest-selling model across the entire segment.
In terms of market share, VinFast demonstrates overwhelming dominance. The Limo Green and VF MPV 7 models secured 56.5% market share for the Vietnamese manufacturer, meaning nearly one in two MPVs sold in the segment belongs to VinFast.
Toyota, with the most products (4), holds about 17% market share. Mitsubishi follows with nearly 12% from just one model, the Xpander. Kia ranks next with 7.3%, attributed to the Carens and Carnival.
The overall MPV segment is largely dominated by VinFast, Toyota, Mitsubishi, and Kia. These four brands capture nearly 93% of the market share.
The MPV segment also offers options from BYD, GAC, MG, Volkswagen, but these manufacturers do not release sales figures.
Pham Trung
