Vietnamese car manufacturers compete to offer deep discounts for Tet

Incentives of around 40-50 million become common when the year-end car buying season peaks.

The record car sales in 2016 created momentum for early 2017 as the Lunar New Year approached. The sales race at the companies was realized by using different forms of promotions such as discounts, cash gifts, other products, accessories or insurance.

The spark for the incentive race is Truong Hai. Mazda or Kia sales staff said it did not take much time to close negotiations with customers like every year, because the discount from the manufacturer plus the additional promotion from the dealer was at a high enough level to not have to consider much.

Deep discounts bring high sales at the end of the year.

Kia offers an unexpected price list, 21 million discount for Morning, 58 million for Cerato, 45 million for Rio, 45 million for Sorento or 146 million for Sedona, including promotion money and accessories.

Mazda also has a similar strategy. Mr. Cong Nam changed his intention from buying a used 2015 CX-5 to buying a new CX-5, because after a discount of 90 million, the price of the two used and new cars is the same. Other Mazda cars also received good incentives such as Mazda2 with a discount of 30 million, Mazda3 about 50 million.

On the rival side, Toyota is also forced to reduce the price of some models with low growth rate. After being surpassed by Mazda3, Altis has a policy of reducing about 30 million, while Camry is double, 60 million.

However, for "hot" products like Innova or Fortuner, there is no such deep discount. Customers who negotiate well with the dealer can buy Innova for 10 million cheaper, on the contrary, the newly launched Fortuner, customers want to buy the highest versionfrom now have to wait until march for stock and to buy the car must buy additional accessory package worth 30-50 million, another form of price padding.

In the rest of the market, the race is even more fierce, as each company has to compete with both the big guys and a series of other rivals. Honda gives customers 50 million in toys and accessories for the CR-V, not convertible to cash. Ford deeply reduces 60 million for the EcoSport or Focus, more than 40 million for the Fiesta. On the contrary, the Explorer model has increased in price by about 150 million because of high demand and low supply.

Nissan announced a Tet shopping campaign with 30-50 million cash gifts for X-Trail depending on the version, Navara about 15-40 million; Sunny, Juke, Teana about 10-20 million. Chevrolet is not left out, reducing 40 million for Cruze, 30 million for Colorado, Aveo and 10 million for Trax. Isuzu does not reduce money but gives away one year of physical insurance.

X-Trail reduced by 30-50 million.

Volkswagen, which has a relatively small market share, attracts customers with a 30 million discount for Polo, 50 million for Tiguan and 345 million for Touareg registration fees.

Many customers who buy cars at the end of the year said that they found it easier to decide this year because each company has attractive promotions. With the same financial level, Vietnamese customers can easily choose a new car instead of a used one, and the gap between segments is also narrowing.

The Vietnamese automobile market grew strongly in 2016, reaching more than 304,000 vehicles, an increase of 34% compared to the same period in 2015. In 2017, although there may be many fluctuations, the Vietnam Automobile Manufacturers Association predicts that sales will increase by about 10%.

According to VNE