Newly launched cars have incentives in Vietnam: Some cars are discounted up to 100 million VND
Báo Dân trí•07/10/2023
(Dan Tri) - Newly launched car models with reduced prices are mainly imported and do not enjoy the 50% reduction in registration fees like domestically assembled products.
In October, the Vietnamese auto market gradually changes for the year-end shopping season. This is the time when car manufacturers and dealers focus on boosting sales, and there is no shortage of promotional programs launched to attract customers' attention. However, due to the impact of the economic recession, the consumption of the entire market has not shown signs of booming, even though domestically assembled cars have a 50% reduction in registration fees according to the State's policy. Therefore, the price reduction race continues to "escalate", even newly launched car models are no exception. Toyota Yaris Cross First launched to Vietnamese customers on September 19, Toyota Yaris Cross is positioned in the B-size urban SUV segment, competing with Hyundai Creta or Kia Seltos. The car has 2 versions, including gasoline and hybrid engines, with suggested retail prices of 730 million VND and 838 million VND respectively. Immediately after its launch, Toyota Vietnam supported 50% of the registration fee for Yaris Cross to increase its competitiveness with domestically assembled products, applicable until the end of this year.
With a 50% discount on registration fees, the price of the Toyota Yaris Cross is reduced by up to 50 million VND for the hybrid version (Photo: TVN).
Faced with fierce competition when competitors in the same segment are offering big incentives, plus pressure from Mazda CX-5 (C-class SUV priced from 749 million VND), many dealers are forced to "cut losses" to reduce the price of Yaris Cross in October. Referring to a showroom in Hanoi, a sales consultant said that both versions of Toyota Yaris Cross are discounted by 50 million VND, the actual price is reduced to 680 million VND and 788 million VND. Thus, if choosing the hybrid version of Yaris Cross at this time, Vietnamese customers will save a total of 100 million VND. MG RX5 "Newcomer" in the C-SUV segment, MG RX5 is receiving a lot of attention from Vietnamese customers after its "debut" on September 23. In addition to the eye-catching sporty design, the car has a listed price that is competitive enough with the Mazda CX-5 (749-999 million VND), from 739-829 million VND for the 2 versions STD and LUX.
Despite its good price, the MG RX5 is still controversial due to its Chinese origin (Photo: Nguyen Lam).
Due to not being supported with 50% of the registration fee like assembled cars, MG RX5 was offered by dealers at a price of 699-799 million VND right after its launch, equivalent to a reduction of 30-40 million VND. The actual starting price has returned to the preferential price of B-SUV models, but according to experts, RX5 will still need time to convince users. Looking at the business policies of recent MG car lines, it can be expected that the selling price of this model will continue to decrease in the last months of the year. Honda BR-V, City and Toyota Vios Although not new products launched in September, both Honda BR-V, City and Toyota Vios are models that have been continuously promoted immediately after their introduction. BR-V is a completely new product, located in the small MPV segment. The car was launched in early July and immediately after arriving at the dealership, sales consultants simultaneously offered customers a total incentive of up to 70 million VND for both versions, including a cash discount of 20 million VND and an accessory package worth 50 million VND. In October, to help dealers "cut losses", Honda Vietnam offered 100% of the registration fee to customers buying the standard G version of the BR-V, equivalent to a reduction of up to nearly 80 million VND if registered in Hanoi (12% registration fee). The high-end L variant is only supported with 50% of the registration fee (about 40 million VND).
The highlight of the Honda BR-V is the Honda Sensing technology package, but it is difficult for the majority of users to access due to its price being almost the highest in the small MPV segment (661-705 million VND) (Photo: Nguyen Lam).
Honda City and Toyota Vios were both upgraded in July. Facing competitive pressure from Hyundai Accent, both models immediately had incentives at dealerships and gradually increased over time. In October, Honda City received 50% support for registration fees from the company, equivalent to a reduction of about 30 million VND. For example, the highest-end RS version of the car costs 609 million VND, reduced to 579 million VND after applying the incentives. To increase the attractiveness, many dealers give away genuine accessory packages to car buyers, worth from 50-70 million VND depending on the location.
In addition to incentives from the manufacturer and dealer, Honda City also receives 50% support for registration fees thanks to domestic assembly (Photo: Nguyen Lam).
As for Toyota Vios, the manufacturer supports 50% of the registration fee, but the reduction does not exceed 24-30 million VND, depending on the version. Consulting some dealers in the Hanoi area, the sales consultant said that Vios is reduced by an additional 10-20 million VND. Of which, the G CVT version of Vios is reduced the most, a total of 50 million VND, bringing the actual selling price down to 542 million VND, equal to the listed price of the highest version of Hyundai Accent.
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