Japanese cars reduced in price by hundreds of millions of dong after Tet
After Tet, Japanese car companies simultaneously offered huge discounts of up to more than 300 million VND to attract customers in the context of a sharp decline in purchasing power in Vietnam.
Subaru boldly fired the "first shot" to open the 2024 Spring promotion.
The Japanese car company offers customers incentives worth up to 324 million VND in February 2024 for the Forester SUV model with VIN number (manufactured year) 2023 that the company is distributing in Vietnam.
Subaru Forester.
Specifically, the Forester iL version is offered a cash discount of 170 million; the iL EyeSight version is offered a cash discount of 230 million and most notably, the iS EyeSight version is offered a promotion of up to 250 million and is equipped with automatic folding mirrors. In addition, customers who buy the above cars will also receive 4 additional headrests and enjoy a 5-year warranty policy with no mileage limit.
In addition, Subaru Vietnam also gives lucky money to customers in the form of a lucky draw right at the dealership, for customers who complete the procedure to buy Forester, WRX and BRZ cars. The prize structure ranges from 1 tael, to 3 taels, 5 taels and 1 tael of gold - converted into cash worth up to 74 million VND.
Fellow car company Suzuki is also showing no less competitiveness than Subaru, when launching incentives for customers worth from 45 million to 140 million depending on different versions and models. Specifically, when purchasing the Suzuki Ertiga Hybrid model in February 2024, users will have 100% of the registration fee deducted directly from the selling price.
Suzuki Ertiga.
At the same time, the AT version of this MPV model will be given an additional fuel voucher worth 10 million VND; while the MT version will enjoy a preferential loan interest rate of 0% for the first 6 months. In addition, the Suzuki XL7 also has a 100% reduction in registration fees; a fuel voucher worth 10 million VND is included, helping to increase the total promotional value to 70 million VND.
Meanwhile, the Suzuki Swift sedan duo is getting a 100% discount on registration fees worth 60 million VND; while the Ciaz gets a 50% reduction in registration fees from the retail price, equivalent to 45 million VND, along with a 0% interest rate for 6 months.
No less "explosive" than Suzuki's "gunfire" of price reduction is Honda's compatriot. In February 2024: the popular sedan Honda City - top 10 best-selling cars in Vietnam in 2023 - was discounted by 30 million VND with a registration fee of 50 - 100% depending on the version; the largest promotional value is up to nearly 90 million VND.
Honda City.
Many other Honda models also receive different incentives, including a 50% reduction in registration fees along with a cash gift of 30 million VND deducted directly from the selling price or 1-year body insurance for: HR-V, Civic, Accord and CR-V (except the e:HEV RS version). These incentives do not even include other promotional programs from the distributor.
In the case of the two best-selling models City and CR-V; this is considered a move to clear out the remaining inventory, as the promotion is applied to VIN 2023 cars. Meanwhile, for names like HR-V, Civic or Accord; the Japanese wing brand is also expecting to improve sales for the above products.
No less generous than Honda is fellow countryman Mitsubishi, with a program to support 50% of registration fees for all product lines that the company is selling in the Vietnamese market; except for the new crossover model XForce - imported from Indonesia and still not available for delivery to users.
Mitsubishi Xpander Cross.
This will certainly be the reason for Xpander to continue to maintain its sales throne in the segment, as well as in the entire market; because in the whole year of 2023, this MPV model had nearly 20,000 orders - comfortably occupying the No. 1 position in Vietnam - surpassing the second model by more than 2,000 units.
In addition, the Triton AT single-wheel drive version will receive an additional gift of a rear-view camera; and customers who own the Mitsubishi Outlander crossover model will receive an additional gift of a 360-degree panoramic camera system.
Even the company's B-class sedan, Mitsubishi Attrage, is also given a shark fin antenna system for the CVT and CVT Premium versions; while the MT version will receive a reverse camera as a bonus.
While Honda's incentives come from combining resources from the car manufacturer as well as the dealer; Mitsubishi is supported by the distributor system with incentives; many Japanese car models are also proactively discounted by showrooms to attract customers on the occasion of the beginning of Spring.
Toyota Corolla Cross.
According to many sales consultants, the popular SUV Toyota Corolla Cross is also being offered a 50 million VND discount. In 2023, this was one of the two business spearheads of the Japanese "giant" brand - when it achieved the top 8 best-selling cars in the market with more than 10,000 cars delivered to customers.
Corolla Cross promises to soon be brought back to Toyota Vietnam with an updated version to compete with rivals Tucson and CX-5, because the neighboring market Thailand has just received a facelift upgrade of this Japanese crossover model.
In contrast to the strong "preemptive blow" on price from Japanese brands, distributor Thaco appears to be quite indifferent and does not offer any preferential policies for the brands it is in charge of, including Kia, Mazda and Peugeot.
Hyundai Accent.
Meanwhile, Thanh Cong joint venture has also made certain moves, when applying a 50% reduction in registration fees to the selling price of Creta, Elantra, Accent and Grand i10 models; or customers can choose a 0% interest rate package for 12 months if they buy a car on loan. In particular, the Hyundai Grand i10 A-class model is also given an additional 1 year of physical insurance. The incentives apply in February 2024.
