Imported Cars Receive Massive Discounts, Up to Hundreds of Millions of Dongs

The Vietnamese automotive market is witnessing a surge in imported car sales compared to domestically assembled vehicles. In the last two months, imported car sales have consistently outperformed those of cars manufactured in local factories.

Despite positive business signals, car brands in Vietnam continue to offer significant incentives for imported models ahead of the expected fee reduction policy, which may come into effect as early as July.

Mitsubishi Group

In the Vietnamese market, Mitsubishi’s passenger car models are mostly distributed as completely built-up (CBU) imports, with only the Mitsubishi Outlander and the manual transmission version of the Mitsubishi Xpander being assembled locally.

In June, Mitsubishi is offering various promotions on its imported models, including the Mitsubishi Attrage, Mitsubishi Xforce, Mitsubishi Xpander, Mitsubishi Pajero Sport, and the Mitsubishi Triton pickup truck. These promotions include discounts of up to 100% on registration fees.

Specifically, the Mitsubishi Attrage is offered with a support package ranging from 50% to 100% of the registration fee, depending on the version, along with a shark fin antenna, a rearview camera, or one year of physical insurance. With a listed price ranging from VND 380 million to VND 490 million, the total value of incentives for this B-segment sedan ranges from VND 25 million to VND 60.5 million.

The Mitsubishi Attrage competes in the B-segment sedan category alongside the Hyundai Accent, Toyota Vios, and Honda City. Photo: Mitsubishi

The automatic transmission versions of the Mitsubishi Xpander receive a 50% discount on the registration fee, along with a 360-degree camera for the AT Premium and Xpander Cross variants. With a listed price ranging from VND 598 million to VND 698 million, the value of incentives for the best-selling model in the Vietnamese market last year is currently between VND 30 million and VND 55 million.

The two rear-wheel-drive versions of the Mitsubishi Triton pickup truck are offered with a promotion that includes a discount of up to 100% on the registration fee, plus one year of physical insurance and a rearview camera. Currently, the total value of incentives for this pickup truck model is up to VND 50.5 million.

Meanwhile, the Pajero Sport receives the highest incentive in this promotion from Mitsubishi Vietnam. Customers who purchase this 7-seat SUV in June will receive a 100% discount on the registration fee, two years of physical insurance, and free maintenance.

With a listed price ranging from VND 1.13 billion to VND 1.365 billion, the total value of incentives for the Mitsubishi Pajero Sport in this promotion ranges from VND 143 million to VND 171.5 million.

The Mitsubishi Pajero Sport receives the highest incentives in June. Photo: Mitsubishi

For the new Mitsubishi Xforce, customers who purchase the vehicle in June will receive a one-year physical insurance package worth up to VND 10 million, along with a Mitsubishi Xforce model car. Additionally, customers who purchase the Xforce GLX version will receive one year of free maintenance, while those who opt for the Exceed version will be gifted a remote engine starter key.

As of the end of May, the total sales of Mitsubishi passenger cars in Vietnam reached 11,709 units. Among these, the Mitsubishi Xpander remains the best-selling model, with sales of 6,537 units, including 5,936 imported units and 601 domestically assembled units.

Nissan Vehicles

Currently, the Nissan automotive product range in Vietnam includes the Nissan Almera sedan, the Nissan Navara pickup truck, and the Nissan Kicks SUV, which is an electric car with a gasoline engine.

In June, Nissan Vietnam is offering a 150% discount on registration fees for all Nissan vehicles.

With a listed price ranging from VND 699 million to VND 970 million, the Nissan Navara is being offered with a promotional value equivalent to VND 105-145 million, depending on the version. The Nissan Almera, with a listed price in Vietnam ranging from VND 539 million to VND 595 million, has a June incentive value of VND 81-89 million.

The Nissan Almera is also a B-segment sedan imported from Thailand. Photo: Boi Ha

As for the Nissan Kicks, the promotional value in the form of a registration fee discount offered by Nissan is approximately VND 129 million. However, a dealership in Ho Chi Minh City is applying an additional cash incentive, increasing the total promotional value to VND 210 million and bringing the car’s price down to VND 648 million.

There are rumors circulating that the Nissan Kicks will soon be discontinued in Vietnam. However, VAD, the distributor of Nissan vehicles in Vietnam, has not confirmed any information regarding this possibility.

Suzuki Passenger Cars

Currently, all Suzuki passenger cars in the Vietnamese market are imported. The affordable MPV models, including the Suzuki XL7 and Suzuki Ertiga Hybrid, are imported from Indonesia, while the Suzuki Ciaz and Suzuki Swift are produced at the Suzuki factory in Thailand.

In June, the Suzuki Ertiga Hybrid is offered with a 100% discount on the registration fee, along with preferential interest rate loans and fuel vouchers. The total value of incentives for this small MPV is VND 89 million for all versions, bringing the car’s price down to VND 449 million for the MT version and VND 519 million for the AT version.

The Suzuki XL7 also receives a 50% discount on the registration fee, equivalent to a cash value of VND 30 million. After the discount, the Suzuki XL7 is now priced at VND 570 million at dealerships.

In the May sales report, the Suzuki XL7 experienced a significant drop in sales. The sales volume of this model in May was 15 units, a decrease of 376 units compared to the previous month. When compared to the sales of 677 units in March, the Suzuki XL7 has lost nearly 98% of its sales volume.

The Suzuki XL7 experienced an unexpected decline in May. Photo: Boi Ha

The Suzuki Swift also saw a slight decrease in sales in May, with 21 units sold. This B-segment hatchback is being promoted with a 50% discount on the registration fee, equivalent to an incentive value of VND 30 million.

Similarly, the Suzuki Ciaz is also being offered with a 50% discount on the registration fee. The incentive value for this Thai-imported sedan in June is VND 45 million, bringing the car’s price down to VND 490 million. As of the beginning of the year, the Suzuki Ciaz has recorded cumulative sales of 8 units, including 3 units sold to Vietnamese customers in May.

Honda Accord Cash Incentives

The Honda Accord is one of the passenger car models that Honda imports as a completely built-up (CBU) unit from abroad. This D-segment sedan originates from Thailand and is currently distributed in Vietnam solely in the 1.5 Turbo version, with a listed price of VND 1.319 billion.

Currently, Honda Vietnam continues to offer promotions for the Honda Accord in the form of cash support. With an incentive value of VND 220 million, the Honda Accord is now priced at VND 1.099 billion, in addition to some gifts provided by dealerships.

After the first five months of the year, the Honda Accord achieved sales of 40 units, equivalent to an average monthly sales volume of about 8 units. In the D-segment sedan market in Vietnam, the Toyota Camry dominates with a market share of 51%, despite recording sales of only 107 units in May.

Subaru and Skoda SUVs

In June, Subaru continues to offer promotions for the Subaru Forester in the Vietnamese market, with total incentives of up to VND 160 million.

Specifically, the promotion for the Subaru Forester includes support for up to 100% of the registration fee, license plate fee, road maintenance fee, one year of physical insurance, and unlimited free maintenance for five years.

The highest total incentive value of VND 160 million is offered for the i-S EyeSight version of the Subaru Forester, bringing the selling price down to VND 1.039 billion. For the i-L EyeSight and i-L versions, the total incentive values in June are VND 130 million and VND 70 million, respectively. After the incentives, the selling prices of the Subaru Forester i-L EyeSight and i-L versions are VND 969 million and VND 899 million, respectively.

Currently, the Subaru Forester is still imported by the Japanese automaker from its factory in Thailand. However, starting in 2025, Southeast Asian markets, including Thailand, Vietnam, Malaysia, and Cambodia, will switch to importing the Forester directly from Japan.

The Subaru Forester is offered with a registration fee promotion in June, but the total incentive value has decreased compared to the beginning of the year. Photo: Subaru

Also in June, Skoda’s imported European SUVs are offered with a promotion that includes support for up to 100% of the registration fee, along with genuine accessories.

The Style version of the Kodiaq receives a 50% discount on the registration fee, bringing the selling price down to VND 1.339 billion. Meanwhile, the Ambition version of the Skoda Kodiaq is offered with a 100% discount on the registration fee, resulting in a selling price of VND 1.07 billion.

Both versions of the Skoda Karoq will be offered with a 100% discount on the registration fee in June. After the incentive, the price of the Skoda Karoq ranges from VND 899 million to VND 980 million.