Car dealers begin to reduce promotions after registration fees are reduced by 50%.
Some car dealers have adjusted their incentive programs compared to previous months after the policy of supporting 50% of registration fees for assembled cars was officially implemented from the beginning of July.
All versions of Toyota Avanza Premio are being discounted 25 million VND at the dealer, while the promotion for Toyota Veloz Cross versions is 30 million VND.
Accordingly, Toyota dealers will now stop offering 50% registration fee incentives to customers, and instead, some car models will receive preferential policies from the Government. Specifically, Toyota Vios along with 2 MPV models Toyota Veloz Cross, Toyota Avanza Premio, Toyota Innova and Toyota Fortuner diesel versions are Toyota brand cars that are eligible for 50% registration fee incentives.
Some Ford dealers in Ho Chi Minh City are also reducing incentives for car models by 3-50 million VND compared to June. Some car models that Ford is assembling in Vietnam include the C-class SUV Territory, versions of the Ranger pickup (except the Raptor version imported from Thailand), and the Ford Transit commercial vehicle line.
At the dealership, the Hyundai Accent sedan model has gone from the highest incentive of 44 million VND in the special AT version to the maximum promotional value of only 35 million VND. The standard AT version of the Hyundai Accent has an incentive worth 30 million VND in July.
Previously, Thaco had adjusted the listed prices of Kia and Mazda products in June, right before the Government implemented the preferential registration fee program for domestically assembled cars. These adjustments have significantly reduced the prices of Kia and Mazda cars compared to the beginning of the year. Currently, some car manufacturers with mostly domestically assembled products such as Kia and Mazda have not announced any changes to the promotional levels applied since July.
However, there are models after July that have had additional incentives added, causing unprecedented deep discounts. Specifically, Honda Vietnam announced that customers who buy Honda CR-V in July will enjoy incentives equivalent to 150% of the registration fee and one year of physical insurance.
The fact that customers are supported up to 150% of the registration fee comes from the fact that this program includes 100% of the registration fee from Honda plus a 50% registration fee incentive from the Government. This not only stimulates shopping, but is also a move to clear inventory to welcome the new generation Honda CR-V, expected to "arrive" in Vietnam at the end of this year.
