VinFast's small SUV sales overwhelm Toyota and Kia

With an average sales of thousands of vehicles per month, VinFast's VF 5 and VF 6 make the sales of competitors equipped with internal combustion engines in the small high-chassis vehicle segment (CUVs from A+ to B+) pale. Because no model from companies such as Kia, Mazda, Honda, Toyota, Hyundai reached 1,000 vehicles after the first two months of 2025.

Thanks to support from price incentives, free charging until mid-2027, free registration fees until the end of February 2027 and demand for electric vehicles for service businesses, sales of VinFast's two popular CUV models have consistently remained at the top of the segment.

Each month, VF 5 delivers about 3,000 cars, and VF 6 about 1,500 cars, a number that is larger than all other competitors sold in two months. Of the total 16,509 cars in the small CUV segment in general sold in Vietnam in the past two months, VinFast accounts for more than half of the market share (56%) with about 9,300 cars. Sales are larger than all other competitors combined and equivalent to an average of more than one in every two small CUVs sold in the market carrying the VinFast brand.

Below VinFast is Toyota, a brand that accounts for about 13% of the segment's market share. Excluding VinFast, Toyota is the company that sells the most cars using internal combustion engines thanks to three models: Raize, Yaris Cross and Corolla Cross.

Of the three compact CUVs, the Yaris Cross is the biggest contributor to Toyota's sales. The two-month promotion of 50% off registration fees has helped the pure B-size car sell well, reaching 932 units in two months. However, this sales volume is still below its rival Mitsubishi Xforce.

With an appearance that suits the tastes of the majority of Vietnamese customers, many versions and prices, and diverse amenities like Korean cars, Xforce continues to be the best-selling B-class car in the segment after the first two months of 2025 with sales of nearly 1,000 units. Along with Xpander, the best-selling small MPV, Mitsubishi has a golden egg-laying duo. In terms of market share, with only one model, Xforce, Mitsubishi accounts for about 6% of the market share in this segment.

Kia and Hyundai each have two products in the small CUV segment. Kia has Seltos and Sonet, and Hyundai has Creta and Venue. The emergence of VinFast and the price and equipment competition from Japanese cars in the past two years have made Korean representatives lose ground in the race to find customers.

Kia sold a total of more than 1,600 cars in the first two months of 2025, accounting for about 10% of the market share. Meanwhile, Hyundai sold more than 1,100 cars, accounting for 6.4% of the market share.

Honda only sells HR-V in the segment that is the most popular trend in the market. With a high price and fewer options than its competitors, Honda HR-V has not been able to compete with the top sales group after many years in Vietnam.

Mazda's pair of imported cars from Thailand, the CX-3 and CX-30, are the slowest sellers. Total sales of the two models reached more than 500 units after two months, accounting for about 3% of the market share.