In the final months of 2025 and early 2026, the Vietnamese auto market continued to witness an unprecedented wave of sharp price cuts. Not only slow-selling or overstocked models but even top best-selling names have seen prices cut to record lows to maintain sales momentum.

Sales skyrocket due to deep discounts

Many car models have been selling very well over 2,000 products sold just within one month. This result came not only from the inherent appeal of popular models combined with seasonal factors, but also from the widespread rollout of aggressive incentives and deep discounts by automakers and dealers.

Mitsubishi’s two best-selling models, Xpander and Xforce, recorded December 2025 sales of 2,596 units and 3,163 units respectively, surging compared to November. These results were partly driven by Mitsubishi Motors Vietnam’s deep discount campaign implemented throughout the fourth quarter.

Meanwhile, the 50-100 percent vehicle registration tax support has been offered for MPV Xpander, the strongest incentive since the start of the year. Buyers of Xpander MT (manual transmission base version) manufactured in 2024 now can enjoy 100 percent registration tax support, equivalent to a discount of VND56 million, along with additional gifts from dealers. Therefore, customers willing to accept an older model could purchase a Mitsubishi Xpander MT VIN 2024 at below VND500 million.

Still maintaining strong appeal thanks to its youthful design and modern equipment, but Mitsubishi and many dealers accept to offer 50–100 percent registration tax support for the B-SUV Xforce to accelerate sales.

GLX version (priced at VND599 million) and the Premium version (VND680 million) see the discounts of VND60 million and VND68 million respectively. Meanwhile, the top-spec Xforce Ultimate sees a smaller incentive of 50 percent registration tax support, equivalent to VND35 million.

Thanks to these sharp discounts, Xforce recorded sales of 3,163 units, becoming the best-selling model in the market in December 2025. Total Xforce sales for 2025 reached 15,254 units, up 5.9 percent from 2024, leading the B-segment SUV category with internal combustion engines in Vietnam.

Among the top-selling models in December, Mazda CX-5 was also a standout with 2,596 units sold. To achieve this result, THACO Auto applied a series of unprecedented incentives for its key model.

Specifically, Mazda CX-5 received discounts ranging from VND35 million to VND45 million, depending on the version. The base CX-5 Deluxe version saw the deepest cut of VND45 million, dropping from VND749 million to VND704 million. Versions including 2.0 Luxury, 2.0 Premium Active, Premium Sport and Premium Exclusive were also discounted by VND35–40 million.

In the pickup segment, Ford Ranger continued to demonstrate its strong appeal, driven not only by a diverse product lineup suited to Vietnamese preferences but also by sustained deep discounts.

In the fourth quarter of 2025, all Ford Ranger pickup versions, including XLS, Stormtrak, Wildtrak and Raptor, were offered 100 percent registration tax support. With prices ranging from VND707 million to VND1.299 billion, this incentive was equivalent to discounts of VND42.5–130 million. The XL version (VND669 million) received 50 percent registration fee support, equivalent to a VND20 million discount.

According to sales data released by Ford Vietnam, 2,199 Ranger units were sold in December 2025. For the full year 2025, Ford Ranger recorded sales of 18,692 units, ranking second among internal combustion engine vehicles nationwide, behind only Mitsubishi Xpander.

Beyond the market leaders, models from various brands such as Toyota, Ford, Honda and Hyundai also saw steep discounts, contributing to a sales breakout in the final month of 2025.

According to the Ministry of Finance, an estimated 76,186 new cars (both domestically produced and imported) arrived in Vietnam in December 2025, up 12.8 percent from the previous month. Of these, domestic production reached 60,700 units, the highest level ever recorded.

As a result, the supply for January, the period leading up to the Lunar New Year, is very abundant. Meanwhile, manufacturers and dealer systems continue to launch price cuts, registration fee support, accessory gifts, or warranty extensions to stimulate consumer demand.

Marketing expert Nguyen Van Phuong remarked that deep discounting is acting as a key "lever" helping many models accelerate sales at year-end. When the market falls into an oversupply state, the pressure to clear inventory forces manufacturers and dealers to proactively adjust prices.

"In the context of increasingly fierce competition, price has not only become the most important criterion but also tends to overshadow brand, origin, or vehicle equipment," Phuong said.

He also pointed out that the price race is unlikely to end soon and may continue through Q1/2026, especially for models with large inventories. 

Hoang Hiep