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The Honda CR-V is one of the models currently offered with a 100% registration fee discount. Photo: Honda. |
It is likely that domestically produced and assembled automobiles will receive another round of registration fee discounts this year, similar to the six-month fee reduction observed in 2020, 2022, and 2023.
However, at present, the Vietnamese market is witnessing several car brands offering incentives in the form of registration fee support for many of their products. These moves by car manufacturers are believed to stimulate customer demand, thereby increasing sales and improving the sluggishness of the Vietnamese automobile market.
Mitsubishi Passenger Cars
In April, Mitsubishi announced a promotional program for its entire passenger car line-up in the Vietnamese market, offering to cover the registration fee. In addition, customers who purchase Mitsubishi cars will receive an extra year of physical insurance and other gifts depending on the model and version.
As of the end of March, the Mitsubishi Xpander is the second best-selling car in the Vietnamese market, with 3,508 units sold, second only to the Ford Ranger with 3,562 units sold.
In April, all versions of the Mitsubishi Xpander are being offered with a 50% discount on the registration fee. Specifically, for the AT Premium version produced in 2024, customers will receive a 360-degree camera and a fuel voucher worth VND 25 million.
For the MT version produced in 2023, customers who purchase the car will enjoy a 50% discount on the registration fee and receive a rearview camera worth VND 2.5 million. Meanwhile, customers who choose the Xpander Cross will receive a 360-degree camera worth VND 20 million and a fuel voucher worth VND 30 million.
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The Mitsubishi Xpander is among the models that Mitsubishi is offering registration fee discounts on in April. Photo: Vinh Phuc. |
Other models in Mitsubishi’s product range in the Vietnamese market, such as the Attrage, Outlander, Pajero Sport, and Triton pickup truck, are also offered with a 50% discount on the registration fee, along with physical insurance, rearview or panoramic camera, fuel vouchers, or shark fin antennas, depending on the model and version.
For the “newcomer” Mitsubishi Xforce, the Japanese carmaker has announced new prices for the Vietnamese market since the beginning of March. Specifically, the Mitsubishi Xforce has a starting price of VND 599 million for the GLX version, VND 640 million for the Exceed version, and VND 680 million for the Premium version.
In its first month of sales, the Mitsubishi Xforce sold 1,334 units, becoming the best-selling SUV in Vietnam and entering the top 10 best-selling cars in the market in March.
Honda Automobiles
In the Vietnamese automobile market, Honda is one of the car brands that frequently offers promotions in the form of registration fee support for almost all of its automobile products. In April, the Japanese carmaker continued to offer registration fee discounts of up to 100% for many models in the local market.
The highest level of support was for the 2023 Honda CR-V G version, with customers who chose to purchase these models receiving a 100% discount on the registration fee, along with VND 30 million in cash and other dealer incentives. The 2023 Honda CR-V L version also enjoyed a 100% registration fee discount and was gifted with one year of physical insurance and dealer gifts.
With a price range of VND 1.109 billion to VND 1.159 billion, customers who purchased the 2023 Honda CR-V G and L versions received incentives from the brand worth up to VND 140 million.
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The 2023 Honda CR-V G and L versions received the highest level of incentives in April. Photo: Honda. |
In April, Honda applied a 50% registration fee discount for the City RS version produced in 2023. In addition to the registration fee support, customers who purchased the 2023 Honda City RS with the specified VIN also received one year of physical insurance and other dealer gifts.
Similarly, the Honda HR-V is offered with a 50% registration fee discount, while the Honda Civic enjoys a 100% discount. Both of these models are imported by Honda from Thailand.
Another Honda model imported from Thailand that is currently available in the Vietnamese market is the Honda Accord. In April, this D-segment sedan is offered with a cash incentive of VND 220 million.
At the end of the first quarter, Honda’s total sales in the Vietnamese market reached 6,119 units, with the Honda City remaining the most popular model with 2,165 units sold in the first three months. The Honda HR-V is currently the second best-selling Honda car in Vietnam, with 1,842 units sold, surpassing the Honda CR-V’s sales of 1,080 units in the same period.
Nissan Automobiles
In April, all Nissan-branded cars in the Vietnamese market are offered with incentives in the form of a minimum 50% registration fee support.
Among them, the two versions of the Nissan Almera (priced from VND 539 million to VND 595 million) are offered with a 50% registration fee discount, depending on the version and year of production.
Customers who purchase the Nissan Navara and Nissan Kicks in April will receive a 100% registration fee discount, plus a two-year physical insurance package. Nissan stated that all of its incentives in April could be converted into cash.
Suzuki Passenger Cars
Similar to its domestic counterparts, Suzuki is also offering registration fee support for its entire passenger car line-up in the Vietnamese market.
The highest level of support, with a total value of VND 89 million, is for the Suzuki Ertiga Hybrid AT and MT versions, including a 100% registration fee discount plus a preferential loan package and fuel vouchers.
For the Suzuki Swift and Suzuki XL7, the Japanese carmaker is offering a 50% registration fee discount for customers who purchase the cars in April. The incentives for these two models start from VND 30 million and can be converted into cash.
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The Suzuki XL7 remains Suzuki’s main passenger car model in the Vietnamese market. Photo: Boi Ha. |
Even the Suzuki Ciaz, one of the slowest-selling cars in the Vietnamese market, is offered with promotions this month. According to Vietnam Suzuki, customers who purchase the Ciaz in April will receive a 50% registration fee discount, along with a preferential loan package at 0% interest for six months, bringing the total value of incentives to VND 45 million.
After the first three months of the year, Suzuki’s passenger car segment sold 2,184 units, with the Suzuki XL7 being the best-selling model. The sales of 1,346 units of the Suzuki XL7 also placed this MPV in the top 10 best-selling cars in the Vietnamese market in the first quarter of 2024.
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