Chinese Cars Depreciate Faster in Vietnam
Chinese cars, which are actively conquering global markets, show significantly higher depreciation in Vietnam compared to Korean and Japanese competitors. Research has revealed that MG models lose 24-33% of their value in two years, while Toyota loses only 10-12%.
The highest depreciation is observed in the MG HS crossover – 33%. The MG5 sedan lost 27% of its value, and the compact ZS – 24%. In comparison, Korean Kia K3 and Hyundai Creta depreciated by 17-19%.
“Japanese models, such as Toyota, showed the best results in terms of value retention”
Exceptions and Trends
Among Chinese cars, there are exceptions – the Beijing X7 crossover lost only 12% of its value, which is explained by a shortage of supply in the market and high demand for used models.
Vietnam currently hosts 13 Chinese automakers, with seven of them entering the market just last year. Experts attribute the rapid depreciation of Chinese cars to aggressive pricing policies, including significant discounts on new models.
Overall, in 2024, nearly 500,000 cars were sold in Vietnam. Although the exact market share of Chinese brands is unknown, their presence is becoming increasingly noticeable. Buyers are paying more attention to improvements in design, quality, and technology in new Chinese models.