Shocking: Car prices drop by up to 300 million VND per month.

Many car models from domestic assembly plants have seen an average price drop of 50-100 million VND, and in some cases even over 300 million VND per car per month, leaving buyers dismayed.

Following a price reduction of nearly 170 million VND in early August, the Honda CR-V SUV line continues to see significant price cuts in early September. Specifically, while the CR-V 2.0 AT model was reduced to 898 million VND in early August, dealerships further reduced it to 788 million VND in early September (a further reduction of 110 million VND). Similarly, the CR-V 2.4 AT model saw a reduction of 160 million VND (from 988 million VND in early August to 828 million VND in early September), and the CR-V 2.4 AT TG model was reduced by 130 million VND (from 1,028 million VND in early August to 898 million VND in September).

Thus, in just one month, the top-of-the-line CR-V 2.4 AT TG saw a price reduction of 280 million VND, the CR-V 2.4 AT 330 million VND, and the CR-V 2.0 AT 220 million VND.

To compete with other car manufacturers in the same segment, Honda CR-V has drastically reduced its price in just one month.

Prior to the Honda CR-V, its direct competitor, the Mazda CX-5, also saw significant price reductions, dropping below 800 million VND. The lowest-priced version, the Mazda CX-5 2.0L, is now available at dealerships for only 790 million VND, while the highest-priced version ranges around 900 million VND, a reduction of approximately 200 million VND per vehicle compared to early August.

In the same segment, the Nissan X-Trail also underwent two price reductions at the beginning and end of August, with a decrease of 80-90 million VND (including additional accessories) for the three versions: Nissan X-Trail 2.5 SV, Nissan X-Trail 2.0 SL, and Nissan X-Trail 2.0.

Meanwhile, Toyota's 7-seater SUV, the Fortuner – a consistently popular model that has never seen price reductions – is also being offered with discounts of 20-25 million VND per vehicle by dealerships. Specifically, the Fortuner 2.4G 4x2, with a listed price of 981 million VND, has been reduced to 956 million VND (a 25 million VND discount), the Fortuner 2.7V 4x2 has been reduced by 20 million VND (listed price 1.149 billion VND, dealership price 1.129 billion VND), and the Fortuner 2.7V 4x4 has been reduced by 20 million VND (listed price 1.308 billion VND, dealership price 1.288 billion VND).

The Fortuner, a model that has always been popular and has never had its price reduced, has also started to drop in price.

Furthermore, two other Toyota models, the Innova and Vios, have also announced additional price reductions. Accordingly, customers who purchase a Toyota Vios or Innova between September 1st and October 31st will receive a support package covering registration tax costs equivalent to VND 30 million for a Vios and VND 15 million for an Innova.

Meanwhile, Chevrolet has also just announced further price reductions of up to 80 million VND for purchases made between September 1st and September 30th. Specifically, the Chevrolet Aveo is discounted by 30 million VND, the Chevrolet Cruze by an additional 60-70 million VND, the Chevrolet Orlando by an additional 15 million VND, the Chevrolet Captiva Revv by 44 million VND, and the Chevrolet Colorado by 20-80 million VND (depending on the version). Thus, in just one month, most cars have seen price reductions of 50-150 million VND per vehicle.

Reportedly, due to slow sales and tied-up capital, dealerships have had no choice but to sell at a loss to quickly recover their investment. Some dealerships are even willing to further reduce prices by 15-20 million VND per vehicle, accepting break-even prices to boost sales.

According to the News Report