Toyota is about to increase prices of many cars from 2023, some cars are more expensive by 90 million VND
The list of Toyota car models in Vietnam with price increases from 2023 includes many "hot" models, including Corolla Cross, Camry or Raize...
According to some sales consultants, Toyota Vietnam will adjust the suggested retail prices of 6 car models from January 3, 2023. Of which, the model will increase by at least 5 million VND, the car with the highest increase will be up to 90 million VND.
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| Detailed selling prices of Toyota cars shared by dealers (Unit: million VND). |
The sales consultant did not share the reason for this price adjustment, but it may not be due to the increase in input material costs. Previously, in May 2022, Toyota Vietnam also increased the price of 10 car models, but the largest increase was only 40 million VND.
After adjustment in early 2023, the listed price of Toyota Raize is on par with the mid-range version of Kia Sonet (VND 524 - 634 million). Meanwhile, the new starting price of Corolla Cross is higher than the highest price of the popular B-SUV model Hyundai Creta (VND 740 million). Meanwhile, the new price of Toyota Camry is more expensive than the starting price of the assembled BMW 3-Series (VND 1.399 billion).
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| Toyota Corolla Cross. Photo: Toyota Vietnam |
Toyota Land Cruiser and Alphard are two models that often have low sales. Of which, Alphard is "picky" because it targets businesses and individuals who need to transport high-class passengers. Toyota Land Cruiser is often "out of stock" because supply cannot meet demand and this is also one of the car models with the most "huge" price increases in Vietnam, at times "channeling" up to 1 billion VND compared to the listed price.
The end of the year and the Lunar New Year are the peak times for the Vietnamese automobile market due to the strong increase in demand from consumers. Car manufacturers and dealers often launch "huge" promotional programs to compete and adjust inventory.
Looking at the list above, it can be seen that the price increase mainly applies to Toyota's "best-selling" car lines, which are not under much competitive pressure from rivals, and there are not even enough cars to sell.
