The VinFast VF 5 electric CUV has surged to the forefront of Vietnam's A+ segment, securing an overwhelming 80% market share in the first five months of 2025. With 18,752 units sold year-to-date, and 4,232 units delivered in May alone, the VF 5 has quadrupled the combined sales of its gasoline-powered rivals, including the Kia Sonet, Toyota Raize, and Hyundai Venue. This dominance underscores a significant shift in consumer preference towards electric vehicles in Vietnam's urban mobility landscape, driven by the VF 5's appealing price, low operating costs, and government incentives.
Unprecedented Market Domination
The VinFast VF 5's ascendancy in the A+ CUV segment is nothing short of phenomenal. By the end of May 2025, the all-electric CUV had sold a staggering 18,752 units since the beginning of the year. This figure is nearly five times the combined sales of its closest competitors in the A+ segment: the Kia Sonet, Toyota Raize, and Hyundai Venue. In May alone, the VF 5 sold 4,232 units, dwarfing the total sales of all other A+ CUV models which collectively amounted to less than 1,000 units.
This level of market capture is akin to the stronghold of the Ford Ranger in the pickup truck segment, where it commands a similar dominant share. The data clearly indicates that the VF 5 isn't just leading its segment; it's redefining it, effectively marginalizing the once-popular ICE alternatives.
The Electric Advantage: Cost and Convenience
Several factors contribute to the VF 5's overwhelming success. As an electric vehicle, it benefits from lower operating costs compared to gasoline cars, a compelling factor for Vietnamese consumers. Additionally, the Vietnamese government's policies, such as the continued exemption of registration fees for electric vehicles until February 2027, further enhance the VF 5's value proposition, making its total "on-the-road" cost more competitive than its ICE counterparts, despite a slightly higher sticker price.
The VF 5's appeal extends to a wide range of customers, from individual buyers and young families seeking a practical and modern urban vehicle to businesses utilizing it for ride-hailing and delivery services. Its compact size, efficient performance, and commitment to zero emissions align perfectly with the evolving demands of Vietnam's rapidly urbanizing environment.
Shifting Tides in the A+ CUV Segment
The rise of the VinFast VF 5 also signifies a broader trend in the Vietnamese automotive market: a notable decline in demand for gasoline-powered A+ CUVs. In the first four months of 2025, the combined sales of the Kia Sonet, Toyota Raize, and Hyundai Venue experienced a 17% decrease compared to the same period in the previous year. This suggests that while the segment itself remains popular, consumer preferences are strongly shifting towards electric alternatives.
VinFast's strategic focus on the electric vehicle market, coupled with its aggressive product rollout and growing charging infrastructure, has allowed it to capitalize on this shift. The VF 5's performance not only solidifies VinFast's position as a leading automotive manufacturer in Vietnam but also serves as a strong indicator of the country's accelerating transition towards sustainable transportation.