In August, the car price reduction war continues to be fierce.

To maintain market share and attract customers in the current fiercely competitive Vietnamese auto market, companies are forced to "race" to reduce prices.

After many strong price reductions, in early August 2017, car manufacturers continuously launched preferential policies, reducing prices from tens to hundreds of millions of VND/car. The discounted car models not only include the slow-selling models on the market but also the best-selling models.

Before Hyundai Thanh Cong officially assembled the Grand i10 in Vietnam and distributed up to 9 different versions, the old Grand i10 series (2016), which were imported cars, officially reduced the price from 17-23 million VND/car depending on the version to clear the inventory. In addition, the Hyundai Creta gasoline version also recorded a slight price reduction, about 9 million VND.

Hyundai Grand i10 2017 assembled in Vietnam.

Among them, the Kia branded car model with the highest retail price reduction is Quorios with a reduction of 40 million VND. The lowest discount of only 1 million VND belongs to the small car Morning 1.0L MT version and Si 1.25L MT version. The Cerato 1.6L AT version also enjoys the same discount of 1 million VND.A series of Mazda and Kia branded car models continue to have their retail prices reduced by manufacturer and distributor Truong Hai (Thaco).

Thaco has reduced retail prices across the board by 5-25 million VND depending on the model and version. This is considered a surprising move by the car manufacturer and distributor with the largest market share in Vietnam today.

Along with the price reduction of all Mazda and Kia models, Thaco also officially announced the application of the final selling price unified across the entire dealer system. Specifically, from August 1, 2017, the retail price of each car model will be applied nationwide and there will be no difference between dealers.

Specifically, the two models with the highest price reductions this time are the Mazda BT-50 and Mazda6 2017, with reductions of 25 million VND and 20 million VND respectively. The 5-seat CUV Mazda CX-5 also received incentives with reductions of 15 million VND for the CX-5 2WD 2.0L version, 11 million VND for the CX-5 2WD 2.5L version and 10 million VND for the CX-5 AWD 2.5L version. The Mazda2 model received price support from 5 to 10 million VND.

Manufacturers continue to reduce prices to clear inventory to make way for new models.

In addition, customers who buy a Mazda car during this time will also receive a special gift of a warranty package of up to 5 years or 150,000 km (depending on the car model).

The Kia model with the highest retail price reduction this time is Quorios, with a reduction of 40 million VND. Meanwhile, the small car Morning 1.0L MT version and Si 1.25L MT version have the lowest price reduction, only 1 million VND. The Cerato 1.6L AT version also enjoys the same discount of 1 million VND.

Nissan's small car Sunny continues to be discounted by 20 million VND for the XV version, to compete with Toyota Vios in August 2017.

In August 2017, the suggested retail prices of Toyota models in the Vietnamese market remained unchanged, but dealers continued to launch incentive campaigns and strong discounts. Toyota Camry still maintained a discount of 80 - 100 million VND/car depending on the version (including cash, accessories and physical insurance).

Toyota Vios, the best-selling sedan in Vietnam this month, also received a discount of 55-60 million VND (including a 30 million VND registration fee support from Toyota Vietnam). The remaining Toyota sedan, Corolla Altis, was still discounted by more than 100 million VND in August 2017 (the discount included a 40 million VND registration fee support from Toyota Vietnam). The remaining Toyota models still maintained the same promotional and discount levels at dealerships as in July 2017.

According to Ho Chi Minh City Law