As we approach the halfway point of 2024, dealerships still have inventory of 2023-manufactured vehicles (with 2023 VINs). One such vehicle is the Hyundai Elantra.
To clear out these older models, Hyundai dealerships are offering incentives specifically on the 2023 VIN Hyundai Elantra, with a focus on the 2.0 AT trim.
Dealerships are offering cash incentives equivalent to 100% of the registration fee for the 2023 Hyundai Elantra 2.0 AT, resulting in a savings of up to 70 million VND for potential buyers.
Dealerships are offering significant discounts of up to 70 million VND on the Hyundai Elantra to clear out their inventory.
The 2023 VIN Elantra remains unchanged in terms of design and features compared to the 2024 model, but it will likely face higher depreciation when resold. Additionally, the availability of colors and trim options may be limited at dealerships.
This is not the first time the 2023 Hyundai Elantra 2.0 AT has seen significant discounts. Previously, a dealership in Central Vietnam offered the same trim with a price reduction of 125 million VND, bringing the final price down to 604 million VND.
Hyundai Thành Công, the official distributor of Hyundai vehicles in Vietnam, is also offering promotional packages for the Elantra during May 2024. Customers can choose between two options: a low-interest financing plan with rates as low as 0% for up to 12 months (with deferred payments for up to 9 months, depending on the bank), or a financial support package covering up to 50% of the registration fee.
The Hyundai Elantra has struggled to achieve impressive sales figures in recent times, hence the need for these incentives to stimulate demand. In April 2024, the Elantra sold 118 units, a 20.8% decrease compared to the previous month, ranking fourth in its segment and falling behind the Honda Civic. Cumulative sales for the first four months of 2024 stand at 496 units.
The Hyundai Elantra has been facing tough competition in its segment, as evident by its less-than-stellar sales performance.
The Hyundai Elantra is currently offered in four trims, with prices ranging from 599 million to 799 million VND. It also has three engine options: the Gamma II 1.6L gasoline engine, the Nu 2.0L gasoline engine, and a 1.6L turbocharged gasoline engine. These engines produce between 128 and 204 horsepower and 155 to 265 Nm of torque.
In terms of features, the Hyundai Elantra offers a competitive package in its segment, including LED lighting, hands-free power trunk, automatic windshield wipers, a sporty flat-bottom steering wheel, 10-way power-adjustable leather seats, a 10.25-inch digital instrument cluster, a 10.25-inch center touchscreen, dual-zone automatic climate control, wireless phone charging, and a six-speaker audio system. However, its safety features lag behind those of its competitors.
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