The "Ghost Month": Cars discounted by hundreds of millions of VND still struggle to find buyers.

Businesses report that the automotive market has been extremely sluggish since the beginning of the seventh lunar month, with sales down about 30% compared to the previous month.

As a rule, every year in the seventh lunar month (the month of wandering spirits), the Vietnamese automotive market enters a downturn, and most car models are heavily discounted to stimulate demand, but sales remain very slow.

Every year in the seventh lunar month, the Vietnamese automotive market enters a period of decline, with car prices falling sharply.

Most car models on sale have seen significant price reductions, but not many customers are enthusiastic. Toyota Vietnam, despite being the market leader, has had to drastically cut the prices of several popular models.

The Camry model is currently being offered with discounts ranging from 85-90 million VND, depending on the version. For example, the 2.0E version is being sold by dealerships at 1.035 billion VND, a reduction of nearly 90 million VND compared to the suggested retail price of 1.122 billion VND. The 2.5G version has also seen a discount of 85 million VND, while the top-of-the-line Camry 2.5Q has the largest discount, over 90 million VND, bringing its price down to 1.322 billion VND.

The Vios is a best-selling model, but dealerships are also offering discounts of 30-43 million VND per car, depending on the version, in addition to giving away one year of comprehensive insurance and genuine accessory packages such as window tinting, floor mats, maintenance and parts replacement packages, free oil changes, and free fuel...

The Altis model has recently seen price reductions of 70-90 million VND. Now, buyers will receive a free year of comprehensive insurance, plus dealerships are offering additional benefits such as free vehicle registration, a 30% discount on registration tax (which can be converted into cash), a genuine accessories package, a maintenance and parts replacement package, and vouchers for free oil changes and fuel.

After announcing price reductions for some of its car models at the beginning of August, Truong Hai Auto Company (Thaco) is continuing to increase incentives in the seventh lunar month, offering shocking discounts on most models with reductions of up to over one hundred million VND. Specifically, from August 15th to August 31st, Mazda, Kia, and Peugeot brands will receive price discounts, free insurance, and accessories. The highest discounts are for the Mazda6 at 110 million VND, Kia Sedona at 105 million VND, followed by the Sorento at 74 million VND, and Peugeot 3008 and 508 at 70 million VND...

Ford Vietnam also has many models with significant price reductions. The Focus 1.5L Ecoboost, originally priced at 899 million VND, was reduced to 760 million VND during the Ghost Month, and is now further reduced to 745 million VND. The Ecosport 1.0L Ecoboost, already priced at 630 million VND, now comes with an additional year of comprehensive insurance...

As soon as the seventh lunar month began, Mitsubishi Motors Vietnam launched a promotional program with many attractive offers, such as a gift worth 10 million VND for customers buying a Mitsubishi Mirage, and 25 million VND for customers buying a Mitsubishi Attrage… For SUV and pickup truck models like the Outlander Sport and Triton, customers received accessory packages worth tens of millions of VND.

Are you worried about buying a cheap car and encountering problems?

According to car salespeople, the number of customers buying cars has dropped significantly since the beginning of the seventh lunar month. Most have failed to meet their sales targets despite continuously contacting potential customers. A Ford salesperson in Hanoi said that the dealership's monthly sales target is around 2 billion VND, equivalent to selling 3 Ecosports, but they have only sold 1 so far this month. Customers are not enthusiastic about buying cars during the "ghost month."

According to folk beliefs, major undertakings such as groundbreaking ceremonies for house construction or buying a car should be avoided during the Ghost Month (the seventh lunar month). Many important events and plans should be steered clear during this time, as they are believed to bring misfortune and bad luck. For many, a car is a significant asset, so choosing an auspicious date for purchase is crucial. This is why many people are hesitant to buy a car during the seventh lunar month.

However, many believe that, disregarding the aforementioned superstitions, this is a good time to buy a car, as many car manufacturers are offering discounts to stimulate demand. Because it's the slowest time of year, manufacturers often drastically reduce prices to avoid sales failure. As a result, consumers can get much better deals than at other times. Currently, car companies are allowing customers to place deposits and sign contracts to receive discounts, with delivery scheduled for the beginning of August in the lunar calendar. Most salespeople are persuading customers to buy cars this way.

Mr. Bui Kim Kha, Deputy General Director of Thaco, said that to provide maximum support to customers who want to enjoy high discounts but are hesitant due to the lunar July, they have implemented a flexible payment policy. This means customers only need to place a deposit to receive the discount; the procedures for signing the sales contract and receiving the vehicle will be flexibly carried out when lunar August arrives. Several other automotive companies are also increasing their promotional programs in the remaining two weeks of lunar July to prevent a drop in sales and revealed that they will cut back on these programs at the end of the year to compensate.

"Putting a deposit to buy a car at a good price is no problem. I think I chose the right time, paying after the 15th day of the 7th lunar month, and leaving the car there until the beginning of August to pick it up," said a customer who just bought a car in the 7th lunar month.

According to VOV.VN