The sharp rise in imported vehicles is setting the stage for fiercer competition in the multi-billion-dong luxury segment.

Spanning multiple segments, the new vehicles are priced from nearly VND2 billion to VND9 billion.

Most recently, THACO introduced the new-generation BMW X1 at VND1.689 billion. The compact luxury SUV has been upgraded, powered by a turbocharged 2.0L engine, and offers a pricing advantage over rivals such as the Audi Q3 and Volvo XC40. The X1 is currently imported from Germany but is expected to be assembled locally in the future, giving BMW greater control over supply and pricing.

In the higher-end segment, Volkswagen Vietnam has begun accepting deposits for the ID. ERA 9X. The large luxury electric SUV is expected to be priced below VND3 billion, with deliveries scheduled to begin in late October. Its standout feature is EREV technology, combining an electric motor with a gasoline engine that serves solely as a power generator. The model targets buyers interested in electric vehicles but still concerned about charging infrastructure.

At the end of July, MINI launched the all-electric Aceman crossover at VND2.41 billion. The model targets younger customers looking for distinctive styling and advanced technology while avoiding mainstream choices. It retains MINI's signature design, compact dimensions and features the new MINI OS operating system.

Earlier, Mazda also introduced the CX-60 and CX-90 to Vietnam, priced from VND1.699 billion and VND1.899 billion, respectively. The CX-60 competes in the D-segment SUV category, while the three-row CX-90 targets family buyers seeking greater space and a hybrid powertrain.

In June, Audi launched the new-generation Q3 and Q5 in Vietnam, priced from VND2.099 billion and VND2.849 billion, respectively. The Q3 competes in the compact luxury SUV segment against the BMW X1 and Mercedes-Benz GLA, while the Q5 sits in the next segment up. Both models are also available in Sportback versions, emphasizing sportier styling and upgraded digital technologies.

Mercedes-Benz has also added the 2026 facelifted GLS 450 4Matic, priced at VND5.689 billion. Meanwhile, the facelifted Mercedes-Maybach GLS 480 4Matic is expected to cost VND8.999 billion, targeting buyers seeking a more exclusive luxury SUV.

Lynk & Co 900 has also entered Vietnam's premium SUV market, priced at VND3.069 billion. The six-seat SUV features a plug-in hybrid (PHEV) powertrain and competes with other premium six- and seven-seat SUVs.

Within a short period, Vietnam's luxury car market has gained a wide range of new options, covering conventional gasoline engines, hybrids, battery electric vehicles and the emerging EREV technology.

Year-end luxury car race 

The arrival of numerous new luxury models comes as Vietnam's automotive market gained momentum in July, while supplies of new vehicles, particularly imports, rose sharply.

According to the Statistics Office under the Ministry of Finance, 75,091 new vehicles, including locally assembled and imported models, were added to the Vietnamese market in July 2026.

Notably, completely built-up (CBU) imports reached 29,991 units worth $597 million, up 17.1 percent from the previous month and 59.8 percent year-on-year. This marked the highest monthly volume of imported vehicles in many years.

During the first seven months of the year, Vietnam imported 178,223 CBUs worth a total of $3.456 billion, up 46.7 percent in volume and 30.3 percent in value compared with the same period last year.

Marketing expert Nguyen Van Phuong told VietNamNet that despite abundant supply and a steady stream of new products, the luxury car market is unlikely to see an immediate breakthrough during the Ghost Month. 

Many Vietnamese buyers traditionally avoid purchasing high-value assets, especially cars, during this period, delaying buying decisions among luxury vehicle customers. However, he believes the slowdown will likely be temporary.

"From September onward, when consumer sentiment returns to normal and year-end demand begins to rise, the luxury car segment is expected to become much more active. The fact that automakers have been launching new models in Vietnam between June and August shows they have already prepared inventory for this period," Phuong said.

Year-end competition will extend beyond pricing and promotions. For affluent customers, technology, powertrains and the overall ownership experience are becoming increasingly important differentiators. Automakers are expanding their offerings with hybrid, PHEV, battery electric and EREV models, rather than relying solely on brand prestige.

Hoang Hiep