Car dealers are in the process of clearing out their inventory. Many models continue to be discounted by over VND200 million, especially those manufactured in 2016. If these cars are not sold by the end of this year, they will be even harder to sell next year. If they are left for too long, their value will decrease, so dealers must do everything they can to clear out their inventory.

Deep price reduction, clearance sale everywhere

A series of car models are heavily discounted to push inventory (illustrative photo). Source: Internet

The D-Max pickup model of Isuzu Vietnam is being "promoted by dealers with a huge discount" of up to more than 200 million VND. The program applies to the manual transmission version with one axle and two axles, manufactured in 2016. Specifically, the manual transmission version with two axles, manufactured in 2016, priced at 710 million VND, is discounted by 210 million VND, down to 500 million VND. The manual transmission version with one axle manufactured in 2016, priced at 660 million VND, is discounted by 175 million VND, down to 485 million VND.

This is probably the biggest discount on a pick-up model during this period, with the aim of clearing out inventory.

Meanwhile, the Nissan Vietnam X-Trail model, recently sold by a dealer in Thanh Hoa, the 2.0L version is priced at 805 million VND, a reduction of 128 million VND compared to the listed price. Meanwhile, in Hanoi, dealers are selling the 2016 2.5 SV 4WD version for only 950 million VND, even the orange version is only 900 million VND, a reduction of 213 million VND compared to the listed price.

After the new Mazda CX-5 was launched, the old CX-5 was simultaneously reduced in price. The 2.0 version is now 799 million VND, the 2.5 single-wheel drive version is now 860 million VND, and the 2.5 two-wheel drive version is now 919 million VND.

However, this model is currently being sold by some outside stores at a lower price. A used car store on Pham Hung Street (Cau Giay - Hanoi) is selling a 100% new, unregistered CX-5 2.5 single-axle, manufactured in 2016, red, priced at only 830 million VND, 30 million VND cheaper than in the dealership, still enjoying full warranty and maintenance of genuine cars.

According to sources from the auto business, up to this point, many car models still have a lot of inventory, mainly cars manufactured in 2016 and early 2017. Many genuine auto dealers are holding a large number of unsold cars and are trying to find a way to sell them all. Therefore, from now until the end of December 2017, the auto market will continue to see "huge promotion" programs for cars in inventory that are difficult to sell.

For sale at any price

Car models produced in 2016 are being pushed out by dealers (illustrative photo). Source: Internet

Recently, businesses have announced car prices for 2018. Accordingly, domestically assembled cars will have their import tax on components reduced to 0%. Along with that, special consumption tax on cars with cylinder capacity of 1.5L or less will be reduced from 40% to 35% and cars with cylinder capacity of 1.5L-2.0L will be reduced from 45% to 40%. Prices of domestically assembled cars will be reduced from 3-10% depending on the model.

Meanwhile, the import tax on complete vehicles from ASEAN to Vietnam is currently at 30%. Vehicles manufactured and assembled domestically are subject to import tax on components ranging from 5-15%. Therefore, the price of vehicles manufactured in 2016 and early 2017 (including both domestically manufactured and assembled and imported) is still calculated based on import tax and special consumption tax which has not been reduced.

To welcome the new year 2018, businesses will have to “quickly process” the remaining imported and domestically assembled cars. Therefore, car prices will continue to decrease, especially for models manufactured in 2016.

Not only that, a series of new models have just been launched with much cheaper prices, many new modern features, impressive designs, making people ignore old products. Therefore, it is inevitable to be forced to lower prices. It can be said that the time has come to sell at any price.

If these cars are not sold by the end of this year, it will be even harder to sell them in 2018. The longer they are left, the more their value will decrease, so we must “push” all the inventory by any means. Reducing prices so much will certainly result in a loss, but it is the best solution at the moment.

After the big discount, the 2 manual D-Max versions of Isuzu Vietnam were quickly sold out nationwide and the inventory was cleared. Other models that are difficult to sell, also following this trend, will be heavily discounted. The discounted price must be much lower than the 2018 car price to attract customers' attention.

Some auto companies revealed that there are still many 2016 car models, not only are they heavily discounted but they also have to sell them to outside auto showrooms at low prices to completely clear out inventory.

If customers are willing to accept 2016 models, this is the time to find cheap cars.

Vietnamnet