Since December 1, the policy of reducing 50% of registration fees for domestically assembled cars has expired. Worried that purchasing power will decrease, many dealers and car companies have immediately announced huge promotional programs of up to several hundred million VND.
Specifically, Toyota Vietnam (TMV) and its dealer system announced the implementation of a December promotion program for a series of its car models. Notably, customers who buy the two models Veloz Cross and Avanza Premio will receive 100% support for registration fees from the manufacturer. This incentive level is double that of the previous month and equivalent to the old support level from the Government. Converted to cash, the Veloz Cross model is discounted by a maximum of 64-66 million VND, while the Avanza Premio is 56-60 million VND.
Many car companies offer huge promotions to attract customers at the end of the year. (Illustration photo)
Other models including Vios, Yaris Cross and Corolla Cross petrol versions are offered a 50% reduction in registration fees, converted to cash, Toyota Vios is reduced by 23-27 million VND, Yaris Cross from 33-38 million VND and Corolla Cross up to 41 million VND. In addition, customers also enjoy preferential loan interest rates from 5.99%/year (for Grab or Be technology driver customers, interest rates are from 1.99%/year).
Meanwhile, another Japanese car company, Honda, also has a 2-month incentive program, from December 2024 to January 2025. Customers who buy City and HR-V cars will receive 50% support for registration fees and 1 year of free car body insurance; customers who buy Accord will receive 250 million VND in cash support. The CR-V model alone has a preferential price of 900 million VND, compared to the listed price of 1.029 - 1.259 billion VND. In addition, car buyers will also receive a preferential interest rate of 5.8%/year.
Nissan Vietnam upgraded the new version of the Almera model with a competitive price from 489 million VND. The car is equipped with a fuel-efficient 1.0L Turbo engine, automatic emergency braking, collision warning, lane departure warning, tire pressure warning, blind spot warning, cross-traffic warning, 360-degree camera.
Ford also made a strong move when offering incentives to customers buying cars this December. Accordingly, customers will receive 50% support on registration fees, 1 year of free vehicle insurance, and an accessory package worth 20 - 30 million VND.
In addition, some models of this brand are also discounted by hundreds of millions of VND, such as Explorer reduced to 1.99 billion VND. The company also adjusted the price of the Territory model down 40 million VND, to 759 - 889 million VND, depending on the version.
Meanwhile, Mercedes-Benz directly supports the price up to 300 million VND, equivalent to 50% of the registration fee, for customers buying cars in December 2024. The car models that apply this policy are S 450 4Matic, S 450 4Matic Luxury, Mercedes - AMG GLB 35 4Matic. In particular, Mercedes-Benz GLC cars can choose to support 50% of the registration fee like the above models or choose the 2-year motor vehicle physical damage insurance incentive.
Mr. Tran Thanh Tung - Director of Hyundai Nam Dinh said that at the end of the year, dealers all want to be able to sell off remaining inventory to prepare for the new year. Therefore, almost all dealers will be ready to offer deep discounts to attract car buyers.
"At this time, customers buying cars will benefit a lot. Although they will no longer receive a 50% reduction in registration fees from the State, they will certainly receive many similar incentives from car dealers. I think that purchasing power may decrease a little but not too much because it is the period when people want to buy cars for travel during Tet," said Mr. Tung.
According to the General Statistics Office, in the first 10 months of 2024, the output of domestically manufactured and assembled cars reached 281,400 units, an increase of 12.1% over the same period in 2023; while imported cars were estimated at 143,084 units, an increase of 37.8%. The estimated supply for the car market in the first 10 months of 2024 reached 424,484 vehicles of all kinds. Combined with more than 60,000 vehicles in inventory from 2023, the total supply of cars reached nearly 500,000 vehicles of all kinds.
Meanwhile, according to business estimates, total car sales in the 11 months of 2024 of the whole market will reach about 380,000 vehicles of all types. Supply is still about 100,000 vehicles higher than demand.
Source: https://vtcnews.vn/khong-con-giam-phi-truoc-ba-cac-hang-dua-khuyen-mai-hut-khach-mua-o-to-ar912225.html
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