Deeply Discounted Models Drive Sales

The Vietnamese auto market recorded a decline in sales in the first two months of the year due to the impact of market fluctuations. According to the latest report by the Vietnam Automobile Manufacturers Association (VAMA), the country recorded total sales of 30,876 vehicles after the first two months of the year, including 16,445 domestically assembled vehicles and 14,431 imported vehicles.

Compared to the sales results of the same period last year, the number of vehicles sold nationwide decreased by 9,478 vehicles, equivalent to approximately 23%. In the face of this situation, many manufacturers have implemented a series of优惠,incentives, and promotional programs to boost sales in preparation for the final quarter of Q1.

Honda CR-V supports up to 100 million VND

According to observations by Tri Thức – Znews, Honda Vietnam is currently offering promotions for many of its car models in March, with the CR-V being the model with the deepest discounts, ranging from a few dozen to over 100 million VND.

Of these, the CR-V is the model with the highest discount. The Honda CR-V G version is currently supported by a 100% reduction in the registration fee, bringing the car price to one billion VND depending on the place of registration. In addition, customers who place an order and complete the payment process in March will also receive an additional 30 million VND discount from the distributor.

Honda CR-V e:HEV RS. Photo: Vĩnh Phúc.

The Honda CR-V L version also benefits from a 100% reduction in the registration fee, valued at 116 million VND. After the discount, the price of the L version SUV ranges from 1 to 1.1 billion VND. Customers also receive a one-year complimentary body insurance and a genuine accessory package when paying in March.

However, the program only applies to CR-V models with VIN numbers from 2023. According to the sales consultant, the number of CR-V models with VIN numbers from 2023 at dealerships is quite limited, so if customers have a need to buy a car, they should consider it early to avoid running out of stock.

“This is a promotion to clear the stock of VIN number 2023 vehicles, so in order to choose the color and version according to personal preferences, buyers should contact and consult with multiple dealerships because the number of VIN number 2023 vehicles is gradually decreasing,” he added.

Hyundai Grand i10 reduces 50% of the registration fee

According to information from TC Group, Hyundai is currently offering incentives for the Grand i10 small car model in March, worth tens of millions of VND. Specifically, customers who place an order for a Hyundai Grand i10 will be able to choose from 2 incentive packages.

The first incentive package applies to customers who wish to pay by installment. Specifically, in the first 12 months, customers will be able to apply an 0% interest rate installment plan. From the following month onwards, the interest rate will be calculated by the bank and the annual increase will not exceed 3.6%. In addition, depending on the bank, buyers can apply for a principal grace period of up to 9 months.

Hyundai Grand i10. Photo: TC Group.

The interest rate incentive program will be applied to customers who borrow through 3 banks including the Joint Stock Commercial Bank for Foreign Trade of Vietnam (VCB), the Vietnam International Commercial Joint Stock Bank (VIB), the Prosperity and Development Joint Stock Commercial Bank (PG Bank), and the Vietnam Prosperity Joint Stock Commercial Bank (VPB).

The other incentive option is a cash incentive package worth 50% of the registration fee. Thus, if choosing this package, the car price will be reduced by 10-15 million VND depending on the place of registration. In addition, customers who purchase a Grand i10 in March will also receive a one-year complimentary physical damage insurance.

Toyota Yaris Cross reduced by 80 million VND

At the beginning of March, Toyota Vietnam announced that it would adjust the listed prices for its car series in the Vietnamese market in an effort to boost sales during the economic downturn. Of these, the Yaris Cross SUV received the highest discount, worth 80 million VND.

Toyota Yaris Cross. Photo: TMV.

Specifically, the gasoline-engine version of the Yaris Cross was reduced from 730 million to 650 million VND. The hybrid version is also currently being offered at a price of 765 million VND. In addition to the manufacturer’s program, dealers are also offering additional discounts of 10-30 million VND for customers who place an order for this SUV in March.

Speaking to Tri Thức – Znews, a sales consultant at a Toyota dealership said that the store is currently offering a discount of 10-30 million for both versions of the Yaris Cross in order to stimulate customer demand.

In addition, when placing an order and completing payment before March 30, buyers will also receive an additional genuine accessory package including floor mats, a dash cam, rain gutters, and a 10L fuel voucher.

Suzuki Ertiga Hybrid reduced by 89 million VND

In March, Suzuki’s only green car in the MPV segment also received a discount of tens of millions of VND in order to attract customers. According to information from the manufacturer, the hybrid MPV MT version is currently reduced from 538 million to 449 million VND. The Ertiga Hybrid AT Euro5 version has been reduced from 608 million to 519 million VND.

In addition, a sales consultant at a Suzuki dealership said that customers who purchase this MPV in March will also receive a special full-option accessory package. This program applies to customers who complete payment before March 24.

Suzuki Ertiga Hybrid. Photo: Bối Hạ.

In Vietnam, the Suzuki Ertiga Hybrid is a model that frequently appears in the slow-selling group of the budget MPV segment due to many factors. In the first month of this year, the number of Ertiga Hybrid vehicles sold in Vietnam unexpectedly reached 427 units, becoming the 4th best-selling model in the group, surpassing many competitors such as the Kia Carens, Honda BR-V, or Toyota Veloz Cross.

However, in February, sales of this model dropped to just 38 units, equivalent to a decrease of over 91%. With the incentive programs implemented since the beginning of March, it is likely that this hybrid model will have the opportunity to make a comeback in the next reporting period.

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