Honda CR-V has limited stock, prices start from 820 million VND after a significant price reduction.

The Honda CR-V SUV line is currently only available in the 2.0L and 2.4L special editions, priced from 822 to 920 million VND at authorized dealerships.

After more than a week of massive price reductions that disrupted the Vietnamese automotive market, a survey of Honda dealerships in the northern region on the morning of September 11th showed that the number of Honda CR-V vehicles remaining at dealerships was quite low.

Of the three versions – 2.0L AT, 2.4L AT, and 2.4L AT TG – the 2.4L AT version was already out of stock due to limited quantities. Some dealerships currently only sell the other two versions, while others have no stock left at all. Honda Vietnam still lists the suggested retail price for the CR-V range from 898 million to 1.028 billion VND.

Nevertheless, the asking price for the Honda CR-V 2.0L AT at dealerships is only 820 million VND, a slight increase of 90 million VND compared to the lowest price of 730 million VND last week. The special edition 2.4L AT TG is priced at 920 million VND.

On September 11th, Honda CR-V dealerships only had the 2.0L and 2.4L TG versions available, priced from 822 to 920 million VND.

According to dealership owners, customer numbers have dropped significantly after the week of massive discounts because dealerships no longer have vehicles in stock. Nevertheless, the retail prices for the few remaining CR-Vs are still considered reasonable compared to before.

Meanwhile, in an interview with Zing.vn, Honda Vietnam stated that the recent massive price reduction for the Honda CR-V from September 1st to 6th was an internal sales program with a limited number of vehicles and special offers to show appreciation to loyal customers. The specific number of vehicles sold will be updated by the Japanese joint venture in its September VAMA report.

Honda CR-V units are currently in limited supply at dealerships.

Honda Vietnam also declined to comment on how the significant price reduction for the Honda CR-V has impacted the company's profits. However, the joint venture affirmed that it continues to produce the 5-seater CR-V to fulfill orders that have been officially signed through its dealership network.

The drastic price reduction of the Honda CR-V to a record low of just 730 million VND in the first week of September had a strong impact on consumer sentiment and competitors in the Vietnamese market. Some customers who managed to buy the CR-V at a low price were quite excited, while others who didn't have the opportunity to own one expressed considerable frustration.

The sharp drop in Honda CR-V prices has also devastated used car dealers, with losses reaching hundreds of millions of VND per CR-V. Meanwhile, Honda's clearance sale has caused many customers considering buying Mazda CX-5, Nissan X-Trail, or Hyundai Tucson to reconsider. Some have even forfeited their deposits to seek opportunities to buy a CR-V instead.

Honda CR-V sales compared to its rival Mazda CX-5 in the first 7 months of 2017.

According to automotive business sources, the drastic price reduction for the CR-V helps Honda Vietnam complete its plan to clear out existing inventory. However, this drastic price cut also creates negative consequences, affecting the reputation of this car model as well as the company.

According to the sales report of the Vietnam Automobile Manufacturers Association (VAMA), in the first seven months of 2017, the cumulative sales of the Honda CR-V reached approximately 1,800 vehicles. Its competitor, the Mazda CX-5, had sales of over 4,300 vehicles.

According to Zing