On June 18, 2024, Hyundai Thanh Cong Auto Joint Venture (HTV) officially announced new retail prices for four models, including the Santa Fe, Custin, Elantra, and Venue. The highest reduction for these four models is VND 100 million.
Specifically, the Hyundai Venue received a price cut of VND 40 million for the 1.0 Turbo and 1.0 Turbo Special versions. The new retail price for this subcompact SUV is now VND 499 million for the 1.0 Turbo and VND 539 million for the 1.0 Turbo Special, further widening the gap with its rival, the newly launched Kia Sonet 2024.
For the Hyundai Elantra line, the 1.6 AT Standard version received a price reduction of VND 20 million to VND 579 million. The other three versions, 1.6 AT, 2.0 AT, and N-Line, all received a VND 30 million discount. The new retail prices for these three versions are VND 639 million, VND 699 million, and VND 769 million, respectively.
Next is the Hyundai Custin, with price reductions ranging from VND 25 million to VND 30 million, depending on the version. The new retail price for this mid-sized MPV is VND 820 million for the 1.5 Turbo Standard, VND 915 million for the 1.5 Turbo Special, and VND 974 million for the 2.0 Turbo Premium.
Lastly, the Hyundai Santa Fe received a price cut of VND 50 million for the four versions: 2.5 Gas Standard, 2.2 Diesel Standard, 2.5 Gas Premium, and 2.2 Diesel Premium. The Hyundai Santa Fe Hybrid, however, received a price reduction of VND 100 million, bringing its price down to VND 1,269 billion.
| Model | Version | New Listed Price (million VND) | Old Listed Price (million VND) | Reduction (million VND) |
| Hyundai Venue | 1.0 Turbo | 499 | 539 | 40 |
| 1.0 Turbo Special | 539 | 579 | 40 | |
| Hyundai Elantra | 1.6 AT Standard | 579 | 599 | 20 |
| 1.6 AT | 639 | 669 | 30 | |
| 2.0 AT | 699 | 729 | 30 | |
| N-Line | 769 | 799 | 30 | |
| Hyundai Custin | 1.5 Turbo Standard | 820 | 850 | 30 |
| 1.5 Turbo Special | 915 | 945 | 30 | |
| 2.0 Turbo Premium | 974 | 999 | 25 | |
| Hyundai Santa Fe | 2.5 Gas Standard | 979 | 1,029 | 50 |
| 2.2 Diesel Standard | 1,070 | 1,120 | 50 | |
| 2.5 Gas Premium | 1,160 | 1,210 | 50 | |
| 2.2 Diesel Premium | 1,219 | 1,269 | 50 | |
| Hybrid | 1,269 | 1,369 | 100 |
New listed prices for four Hyundai models: Santa Fe, Venue, Custin, and Elantra (in million VND).
“We always strive to bring our customers the latest products and advanced technology at the most competitive prices. To achieve this price adjustment, in addition to optimizing our operations from production to distribution, our partner Hyundai Motor has also provided support in terms of input costs and component sourcing. We hope that in the future, more customers will be able to own and experience the premium products of Hyundai that are manufactured and distributed in Vietnam,” said a representative from Hyundai Thanh Cong.
This is not the first time that Hyundai Thanh Cong has reduced the listed prices of its models in 2024. Earlier, the company adjusted the prices of the Hyundai Creta and Tucson. The Hyundai Creta now ranges from VND 599 million to VND 699 million, while the Tucson ranges from VND 769 million to VND 919 million.
Starting in July 2024, a decree reducing the registration fee for domestically produced and assembled cars will take effect. Most of Hyundai Thanh Cong’s models are assembled domestically, and this policy, along with the new listed prices, is expected to benefit customers and boost consumption in the second half of 2024.
All four models that received a price cut from Hyundai Thanh Cong had relatively low sales figures. In May 2024, Vietnamese customers purchased 496 Santa Fe, 295 Venue, 231 Custin, and 213 Elantra vehicles. The cumulative sales from the beginning of 2024 to May for the Santa Fe, Venue, Custin, and Elantra were 1,546, 1,173, 1,098, and 709 units, respectively. With the new listed prices, these four models are expected to improve their sales performance in the coming months.
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