Series of cars supported 100% of registration fee in June

Considering that the Vietnamese automobile market has been continuously gloomy in the first half of 2023 due to consumption being affected by the general economic difficulties, the Government has agreed to reduce 50% of registration fees for domestically produced and assembled vehicles, expected to be applied from July 1.

However, many car companies quickly launched promotions to support 100% of registration fees in June, mainly for products imported completely.

Honda CR-V

Assembled domestically, the Honda CR-V is also eligible for a 50% reduction in registration fees when the policy is issued. However, due to poor sales, the CR-V is often offered by the company or dealer with large promotions. In June, the car is supported with 100% of the registration fee and comes with a 1-year body insurance package.

Honda CR-V is distributed in 4 versions with suggested retail prices starting from 998 million and up to 1.138 billion VND. Photo: Ngoc Anh

The 100% registration fee support for Honda CR-V is converted into a cash discount of 99.8-136 million VND depending on the version. After the discount, the actual price of the highest version of CR-V is about 1 billion, lower than Hyundai Tucson (highest 1.055 billion VND) but more expensive than Mazda CX-5 (739-922 million VND).

Nissan

In recent months, Nissan Vietnam has regularly offered 100% registration fee incentives for the Nissan Almera B-class sedan, but this June, the company "played big" by offering support for all products.

Accordingly, the 100% registration fee discount for Nissan Almera is converted into a 70 million VND reduction, bringing the actual selling price of this model down to 469 million and 529 million VND.

The discounts for the Nissan Kicks are 80 million and 90 million VND for the two versions respectively. After applying, the selling price of this "self-charging electric car" model starts from 709 million VND and goes up to 768 million VND. This price is close to the listed price of B-SUV models of the same size.

The Nissan Kicks e-Power is powered by an electric motor while the gasoline engine acts as a generator. Photo: Nissan

Finally, the Nissan Navara has the biggest discount, up to 120 million VND. The standard version of this pickup truck has a discount of 80 million, priced at only 619 million VND, while the highest version has a real price drop to only 850 million VND, making it more accessible to a wider range of users.

Mitsubishi

Similar to Nissan, Mitsubishi Vietnam supports 100% of registration fees for almost all products, except for the C-SUV Outlander model. In fact, this promotion program is for vehicles manufactured in 2022 (VIN 2022) while VIN 2023 only has a 50% registration fee discount.

The promotional models include: Mitsubishi Xpander, Attrage, Triton and Pajero Sport. All 4 products are imported. Specifically, only the Xpander AT Premium VIN 2022 version is given 100% of the registration fee, equivalent to a reduction of 65.8 million VND.

Mitsubishi Xpander is the flagship product of the Japanese car company, regularly ranking among the best-selling cars in the entire market. Photo: Mitsubishi

Mitsubishi Attrage has 3 versions with a reduction of 100% of the registration fee from 38-49 million VND. After applying, the highest price of this B-class sedan is reduced to only 441 million VND, the lowest in the segment.

Next, the Mitsubishi Triton pickup truck model is supported with 100% of the registration fee for the 2 Athlete VIN 2022 versions, equivalent to a reduction of 47-55 million VND. After the reduction, the highest-end Athlete 4x4 VIN 2022 version of Triton costs 905 million VND, lower than the Ford Ranger but not equal to the preferential price of Nissan Navara.

Mitsubishi Triton's sales often rank second in the pickup truck segment but there is still a large gap with Ford Ranger. Photo: Mitsubishi

Finally, Mitsubishi Pajero Sport VIN 2022 is reduced from 113-136 million VND to 1.017-1.229 billion VND. In addition to the 100% registration fee incentive, the above models also come with some gifts such as 1 year of physical insurance.

Volkswagen

In June, Volkswagen Tiguan and Teramont continue to receive 100% preferential registration fees from the manufacturer. Accordingly, Volkswagen Tiguan has a reduction of 200-240 million VND depending on the version, while Teramont is reduced from 250-300 million VND.

The highest price of Volkswagen Tiguan is 1.999 billion VND, after the discount it is down to 1.759 billion VND. Photo: Volkswagen

In fact, there are many other car models on the market today that are being promoted even more than the 100% reduction in registration fees. For example, the Hyundai Santa Fe Premium Diesel VIN 2022 is being offered by some dealers with a discount of up to 220 million VND, or a series of newly assembled BMW cars are being adjusted to reduce prices with the car with the biggest discount of up to nearly 600 million VND.

With the policy of supporting 50% of registration fees for domestic cars, the Vietnamese automobile market is expected to be more vibrant in the second half of 2023. However, users also need to be decisive because when customers' purchasing power increases, dealers can cut down on promotional programs, making buyers not really benefit.