All popular car brands in Vietnam have reduced prices.

No popular car company can stay out of the price game if it doesn't want to fall behind.

Monthly discount information has become familiar to Vietnamese customers since the second half of 2016. Even in 2017, this trend has become so intense that companies have built monthly plans and provided information to customers from the first day of each month. Not only that, dealers also tacitly agreed to reduce prices without any policy from the company. For dealers, car sales profits may decrease in order to gain sales and find compensatory profits from services.

Truong Hai opens the road, companies compete to reduce prices.

The initiator of the war is Truong Hai with the three brands Mazda, Kia, Peugeot, especially Mazda, with the ambition to achieve high sales to implement the assembly and export strategy. The way this giant maintains a low price for a long time makes its competitors, especially those from Japan, have a headache. "How to compete?" is the constant question.

In the price game, there is no other way but to reduce prices, especially when Mazda products are suitable for Vietnamese tastes. When Toyota reduced the price of Vios and Altis by 60 million in July 2016, customers were surprised, because before that, Toyota's car prices only increased, not decreased. That is also a sign of a wave of price reduction that has not stopped. Toyota is now giving away 3 years of maintenance, or before that, buying a car had the chance to win a Camry.

In one way or another, cash discounts, free insurance, registration fees or free accessories, each brand tries to make customers feel they are receiving more benefits, the total rolling cost of the car is significantly reduced.

Camry price on the market is reduced by hundreds of millions compared to the listed price.

According to the general rule, the Lunar New Year is the time when companies offer the deepest discounts to attract customers buying cars at the end of the year. After that, the market almost stagnates after Tet, because there are few car buyers, and companies are not interested. But in 2017, the opposite happened. Nissan shocked the beginning of the year by reducing the price by 100 million for the X-Trail, a model with many ambitions to compete with the CX-5, which is "making waves".

Truong Hai is still working hard with a consistent strategy of steady reduction. Following the game are companies with small market shares such as Chevrolet, Isuzu, Mitsubishi with continuous incentive packages, from a few dozen to nearly 100 million VND. In June, Mitsubishi reduced by more than 100 million for both Outlander and Pajero Sport, a big play of the Japanese car company, when the car price is always several hundred million higher than its competitors, due to its imported origin.

The three remaining large market share brands, Hyundai, Ford, and Honda, have also been caught up in the war. Hyundai has reduced the price of the Elantra by 50 million and the Santa Fe by 70 million for many months. Honda has reduced the price of the CR-V by 150 million, although it is not an official program. Ford dealers have also continuously reduced the price of the EcoSport and Focus by 50-70 million.

In the mass market, all companies have joined the price war. The leader of a Japanese car company once said that they would only reduce prices to a certain level, to save resources for other customer benefits such as after-sales service.

But now, if we don't "jump in" with the market, we will fall behind in the race for market share, and then all calculations about after-sales service and other benefits for customers become impossible.

According to VNE