Top 10 cheapest cars in Vietnam at the beginning of 2018
A series of price reductions in 2017 brought many car models down to very accessible price levels for consumers in 2018.
2017 was a turbulent year for the Vietnamese automotive market, leading to widespread price reductions by car manufacturers. This, coupled with the impact of reduced import taxes on completely built vehicles and the wait-and-see attitude of customers, resulted in the largest price fluctuations in the Vietnamese automotive market to date. To gain a more comprehensive understanding of this "price war," let's look at the top 10 car models with the lowest prices in the Vietnamese market after a series of price cuts throughout 2017:
1. Chevrolet Spark (269 - 389 million VND)
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The Chevrolet Spark has become the lowest-priced 5-seater passenger car on the Vietnamese automotive market at this time. From its original price of 339 million VND, the older Spark LS model (before the facelift) has been reduced by Chevrolet dealerships to 269 million VND to clear inventory. Additionally, the newer 2018 Spark models are available in the following configurations: Spark Duo (2 seats) at 299 million VND, Spark LS at 359 million VND, and Spark LT at 389 million VND. All are equipped with a 1.2L DOHC gasoline engine, producing 80 horsepower at 6,400 rpm and a maximum torque of 108 Nm at 4,800 rpm, paired with a 5-speed manual transmission.
2. Kia Morning (295 - 394 million VND)
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This model is considered one of Truong Hai (THACO)'s flagship models in Vietnam. In 2017, the company continuously reduced the selling price to compete with rivals in the same segment. As a result, Kia Morning achieved sales of over 10,000 units in 2017. Along with the price reduction at the end of 2017, THACO also announced the selling price for Kia Morning in 2018. Accordingly, from January 1st, 2018, the price of this A-segment car continued to decrease to 290 - 390 million VND. The Kia Morning assembled in Vietnam is equipped with two engine versions: 1.0L and 1.2L. The 1.2L Kappa engine produces 80 horsepower and 120 Nm of torque, combined with a 4-speed automatic or 5-speed manual transmission.
3. Hyundai Grand i10 (315 - 415 million VND)
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The price of the Grand i10 has continuously dropped sharply after Hyundai Thanh Cong switched from importing to assembling it domestically in 2017. Specifically, from 359-479 million VND in January 2017, after two price adjustments, with the highest reduction being 40 million VND, by November 2017 the selling price of the 9 versions of the Hyundai Grand i10 in Vietnam was only 315-415 million VND. Currently, the Hyundai Grand i10 assembled in Vietnam has a localization rate of 10%, and it is expected to increase to 40% after 3 years.
4. Mitsubishi Mirage (370 - 475 million VND)
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In December 2017, the Japanese automaker launched the manual transmission version of the Mirage Eco, cutting back on some features and bringing the price down to 370 million VND. Additionally, this model also has a version equipped with a 1.2L gasoline engine and CVT transmission priced at 475 million VND.
5. Mitsubishi Attrage (412 - 505 million VND)
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Similar to the Mirage, Mitsubishi also added a budget-friendly Attrage Eco version to its B-segment sedan lineup in Vietnam. By the end of 2017, the prices of the four Mitsubishi Attrage versions ranged from 412 to 505 million VND, making it the B-segment sedan with the lowest starting price on the market.
6. Chevrolet Aveo (419 - 459 million VND)
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A discount of 40 million VND, applied in the last month of the year, has brought the selling prices of both versions to their lowest levels in 2017. Specifically, the Aveo LT version is priced at only 419 million VND after the promotion, while the more fully equipped Aveo LTZ is priced at 459 million VND. Both versions use a 1.4L DOHC engine producing 93 horsepower.
7. Nissan Sunny (428 - 468 million VND)
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Declining sales left Nissan with no choice but to join the price war for the Sunny in 2017, hoping to catch up with competitors in the B-segment sedan market. However, the Nissan Sunny increasingly struggled to keep up. The biggest price reduction for the Sunny was applied by Nissan in early December 2017. The Sunny XL version was reduced to 428 million VND by the Japanese automaker's joint venture in Vietnam, while the Sunny XV version was priced at only 468 million VND, a decrease of 50 million VND compared to the beginning of 2017.
8. Toyota Vios (484 - 586 million VND)
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Despite being considered the best-selling car in the Vietnamese market in 2017 (according to VAMA sales figures), the Toyota Vios did not miss out on the price reduction race. In early November 2017, Toyota officially announced price reductions of 48-58 million VND for all Vios versions, bringing the price of this popular B-segment sedan down to 484-586 million VND. This significantly boosted Vios sales. Toyota Vietnam stated that this price range will also be for the Vios in 2018.
9. Mazda2 (505 - 550 million VND)
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At the end of November 2017, the price of the Mazda2 in both sedan and hatchback variants equipped with a 1.5L engine was reduced to only 505 - 550 million VND. Following Mazda's price reduction roadmap after the application of the special consumption tax reduction policy for vehicles using engines under 2.0L, the price of the Mazda2 from 2018 onwards will continue to decrease to 499 - 529 million VND.
10. Ford Fiesta (516 - 568 million VND)
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With year-end discounts ranging from 43 to 48 million VND applied by Ford Vietnam and its dealerships in 2017, the selling price of this B-segment car was reduced to 516-568 million VND, making the Fiesta one of the lowest-priced cars in Vietnam after the price reduction.