In the Malaysian MPV segment, the Toyota Veloz faces several strong competitors. Its closest rival is the Perodua Alza, which shares the same platform and most mechanical components but is priced significantly lower at around RM 75,000 for the top variant, making the brand and styling the main differentiators. Another popular alternative is the Mitsubishi Xpander, which offers a more rugged SUV-inspired design while also seating seven passengers. For buyers seeking a more premium option, the Honda BR-V competes in the same space with Honda's reputation for reliability and a slightly more upmarket feel.