Top 5 Affordable SUVs in Vietnam: Massive Price Cuts on Once-Overpriced Models, Up to $4,500 Off

In just over two years, Vietnam’s automotive market has witnessed a dramatic shift in pricing for several once-popular models. SUVs that were once in high demand, with dealers charging premiums and bundling expensive accessories for early delivery, are now offering deep discounts, with some models seeing price drops of up to hundreds of millions of dong to regain market share.

Toyota Land Cruiser Prado

The Toyota Land Cruiser Prado LC250 launched in Vietnam in October 2024, instantly creating a frenzy. Limited supply led many buyers to pay an additional 300-500 million dong for early delivery. By late 2024 to early 2025, the practice of bundling accessories became widespread, with some paying over half a billion dong above the list price to avoid waiting.

However, the Prado’s popularity has significantly cooled. By mid-2025, official dealerships began offering free body insurance worth around 35 million dong, while private showrooms offered direct cash discounts of 50 million dong. The actual selling price now stands at approximately 3.43 billion dong, slightly below the list price of 3.48 billion dong. According to industry insiders, market demand has stabilized, and buyers are less willing to pay premiums for early delivery.

The Land Cruiser Prado LC250 is the fifth generation, featuring a boxy design, rectangular LED headlights, and a modern interior. It comes equipped with dual 12.3-inch screens, a 14-speaker JBL sound system, a 2.4L turbocharged engine producing 267 horsepower, an 8-speed automatic transmission, and a dual-axle drivetrain.

Honda CR-V

When the new generation Honda CR-V launched in late 2023, the hybrid e:HEV version imported from Thailand quickly became a hot commodity. Some dealerships required buyers to purchase an additional accessory package worth around 50 million dong for immediate delivery, while those unwilling to comply faced a 1-2 month wait. At the time, the new CR-V was one of the most sought-after SUVs in the market, thanks to its fresh design and hybrid powertrain.

Just a few months later, the situation reversed entirely. By 2024, dealerships began offering substantial discounts on the CR-V to stimulate sales. Even Honda’s official distributor introduced promotional programs. In 2025, discounts continued, particularly for 2024 VIN models. Common promotions included 50-100% waivers on registration fees, equivalent to over 100 million dong.

The new Honda CR-V, launched in late 2023, is available in both 1.5L turbocharged and 2.0L hybrid variants. It features full-time all-wheel drive, the latest Honda Sensing safety suite, and a more modern interior and exterior design. Prices range from 1.109 to 1.31 billion dong, positioning it at the higher end of the C-segment SUV/crossover market.

Hyundai Santa Fe

When the new Hyundai Santa Fe launched in Vietnam in September 2024, its boxy design and new 6-seat layout quickly made it a focal point. However, limited supply led to accessory bundling, with many dealerships in major cities requiring buyers to purchase 20-70 million dong worth of accessories for early delivery, while those unwilling to comply faced lengthy waits.

By 2025, the Santa Fe became one of the most heavily discounted vehicles in the market. Many dealerships began clearing 2024 stock, reducing the base Exclusive variant to just 855 million dong, 214 million dong below the list price. Higher-end variants like the Prestige and Calligraphy Turbo also saw discounts exceeding 200 million dong. For 2025 VIN models, promotions continued, typically in the form of 100% registration fee support, equivalent to 100-160 million dong depending on the variant.

The new Hyundai Santa Fe is offered in five variants, with list prices ranging from 1.069 to 1.365 billion dong. It offers a choice of 6 or 7 seats, features the SmartSense safety package, a 2.5L gasoline engine paired with an 8-speed transmission, and all-wheel drive on higher variants. The model has sparked controversy over its design and the removal of the diesel engine option.

Suzuki Jimny

When the Suzuki Jimny officially launched in Vietnam in April 2024, it quickly became a rare find. Offered in two variants priced at 789 and 799 million dong, limited supply led many dealerships to bundle accessories. Buyers seeking immediate delivery had to purchase pre-installed accessory packages or accept prices up to 900 million dong for the two-tone variant, nearly 100 million dong above the list price.

Less than a year later, the situation reversed. By 2025, dealerships began clearing 2024 Jimny stock with record discounts, with some selling for as low as 690 million dong, 100 million dong below the list price. Currently, the model still offers 50% registration fee support and an additional 20 million dong discount, resulting in an actual discount of around 80 million dong.

The Suzuki Jimny sold in Vietnam is the 3-door, 4-seat variant, featuring a body-on-frame chassis and a rare 4WD system for its price range under 800 million dong. It is powered by a 1.5L engine, paired with a 4-speed automatic transmission, producing 101 horsepower. Positioned as a compact off-road vehicle more suited for enthusiasts than families, its niche design and reduced pricing are understandable.

Toyota Raize

When the Toyota Raize launched in 2022, it quickly became a sensation in the compact SUV/crossover segment. Imported from Indonesia with limited supply, buyers faced waits of up to six months, even into the following year. Exploiting the shortage, resellers hoarded units and sold them at premiums, with some pushing prices to nearly 600 million dong, 60 million dong above the list price. Many paid an additional 20-30 million dong to secure early delivery slots.

As the automotive market cooled and supply stabilized, the Raize lost its allure. Dealerships now offer direct cash discounts of around 15 million dong and accessory packages worth approximately 10 million dong, bringing the actual price down to about 485 million dong. At times, the Raize’s price has fallen even further.

The Toyota Raize is built on the DNGA platform, featuring a boxy design with LED headlights, 17-inch wheels, a 9-inch central display, and a 7-inch digital instrument cluster. It is powered by a 1.0L turbocharged engine, paired with a D-CVT transmission, and includes a safety suite with electronic stability control, traction control, blind-spot monitoring, and six airbags.