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BackVietnamese car prices plummeted to less than 150 million VND thanks to micro electric cars from VinFast, Wuling, and Bestune
Vietnamese car prices plummeted to less than 150 million VND thanks to micro electric cars from VinFast, Wuling, and Bestune
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VnExpress49 minutes agoBusiness2 min readView original

Vietnamese car prices plummeted to less than 150 million VND thanks to micro electric cars from VinFast, Wuling, and Bestune

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Quick Look

  • The launch of micro electric car models such as Wuling Mini EV, VinFast VF 2, Bestune Xiaoma and TMT Nano S05 has pushed the floor price of Vietnamese cars down to below 150 million VND, changing the low-cost car segment, which is dominated by Korean cars such as Kia Morning and Hyundai i10.
  • The price of gasoline cars has now increased to 325 million VND, while micro electric models from 145 million VND meet the needs of urban mobility and transportation services.

AI-generated summary

Why It Matters

Before 2023, the low-cost car segment in Vietnam is dominated by Korean models such as Kia Morning and Hyundai i10 with a floor price of about 300 million VND. Since 2019, the price of gasoline-powered A-size hatchback models has only increased, reaching VND 325 million for the Morning MT manual version in 2026.

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The appearance of electric cars VinFast, Wuling, Bestune or TMT brought car prices down to below 300 million, 200 million and then 150 million VND, something rare before.

Before 2023, to own a new car model with the lowest selling price of about 300 million VND, ordinary users only have one choice: a gasoline-powered A-size car with hatchback or sedan configuration. Korean cars with two representatives: Kia Morning and Hyundai i10 dominate this segment in both accessible price and annual sales.

The lowest price of a size A car ever recorded in Vietnam in the past 10 years is 290 million VND, applicable to the manual, standard, 1.0 engine version of Morning in 2018-2019. This can also be considered the floor price of the entire domestic auto industry.

Since 2019, the prices of A-size hatchback models such as i10, Morning or Toyota Wigo, Honda Brio have only increased, not decreased. In 2026, the cheapest gasoline car model on the market is the Morning MT manual version of the old version, priced at 325 million VND.

In June 2023, Wuling Mini EV, a pure electric, super small, 4-seat car model was assembled in Vietnam by TMT. The distributor sells the standard Mini EV at 239 million VND, setting a new car floor. The Chinese car model is also the starting point for ultra-small pure electric products to be launched on the market in the future with selling prices of 300 million VND or less.

According to the chart above, gasoline car models such as Morning, i10, Wigo are in a separate segment, priced at over 300 million VND. Below are the super small electric car models with the highest selling price of only 296 million VND (VF 3 Plus version).

VF 3 is VinFast's most popular car model in 2025 and is also the best-selling in the entire market. This car model was priced at 322 million VND (with battery) when launched in 2024. After that, through many adjustments, the car price dropped to below 300 million VND as it is now.

But VF 3 is not VinFast's most accessible car model. The Vietnamese company launched Minio Green in March 2025 with a size even smaller than VF 3, aimed at service business customers with a price of 269 million VND.

Just a few months after Minio Green appeared, Bestune Xiaoma opened for sale at 199 million VND, a record low in the Vietnamese auto industry. Compared to Wuling mini EV, Bestune Xiaoma is slightly better in length and width, while the height is insignificantly lower. Regarding the wheelbase, the Bestune model is slightly larger. Compared to Minio Green, Xiaoma is almost the same size.

In July 2026, VinFast launched VF 2, the twin version of Minio Green with a selling price of 188 million VND, overtaking Xiaoma's position as the cheapest car on the market. Currently, VinFast sells VF 2 and Minio Green at the same price.

The floor price of cars in Vietnam may be even lower when TMT, the assembler and distributor of Wuling cars, plans to introduce the Nano S05 with prices starting at 145 million VND at the end of 2026. This selling price of the S05 is lower than other high-end two-wheeled scooter models - Honda SH 350i (from 151.2 million VND), Vespa SuperTech 300 (158.6 million VND).

The size of the S05 is smaller than the smallest car model on the market today, Xiaoma or VF 2. This car model has a two-seat configuration, with a pure electric range of about 120-150 km.

The appearance of electric car models is pulling the floor price of Vietnamese cars down. The common point of these products is their compact size, easy to move and maneuver in urban areas. Vehicle equipment is at a basic level, mainly serving the need for sun and rain protection instead of motorbikes. In the case of VF 3, the car also suggests many ideas for personalization with accessories for users.

According to industry experts, in addition to personal needs, thanks to the advantage of low operating costs and initial investment, micro electric vehicle models are gradually being chosen by customers who prioritize transportation services. This is an important customer segment of the previous group of gasoline-powered A-size hatchbacks, but is now significantly narrowed due to the wave of small electric cars entering the Vietnamese market.

What to Watch

AI outlook — possibilities, not facts

  • TMT will launch Nano S05 with prices from 145 million VND at the end of 2026

    Possible · Within months

  • VinFast will continue to keep the price of VF 2 and Minio Green at 188-269 million VND to compete with Bestune Xiaoma

    Likely · Within months

Open Questions

  • Can TMT really produce and sell Nano S05 for 145 million VND by the end of 2026 as expected?
  • Does the Vietnamese government have any tax support or incentive plans to increase the use of micro electric vehicles in urban areas?
  • Will this trend have a long-term impact on the sales and strategies of Kia and Hyundai in Vietnam?

Related Topics

vinfast
OrganizationsVinFastWulingBestuneTMT
PlacesVietnamChinaKoreaJapan
Topicswulingbestunetmtelectric carcheap carsvf 2
This article was originally published by VnExpress.

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