The End-of-Season Rush: How Hot Cars Became the Season’s Hottest Commodity

Traffic jams leading to the city during peak hours have been a familiar sight in the Vietnamese automotive market for many years. However, in 2024, the last few months of the year have been a rare occasion for this situation to arise again.

As November comes to an end, so does the government’s promotional registration fee program for domestically assembled vehicles. Therefore, the demand for “promotion hunting” has increased, causing many car models to unexpectedly run out of stock temporarily.

December Doesn’t Guarantee Availability

According to Tri Thức – Znews, Mitsubishi dealerships in Ho Chi Minh City are experiencing a shortage of the B-segment SUV Xforce due to high demand. When contacting a dealership in the city, a sales consultant informed us that the GLX version is completely sold out in their inventory.

Customers who are interested can place a deposit. However, the waiting time for vehicle delivery may extend until the beginning of next year, as the factory has not provided any information regarding vehicle delivery timelines. Due to the shortage, promotions such as a 50% registration fee discount and fuel vouchers from the manufacturer are not applicable to this version.

Mitsubishi Xforce.

This situation continues with the “MPV king” Xpander, as the AT Eco version is also facing a shortage across all color options. The waiting time for placing a deposit and receiving the vehicle is estimated to be around 1-1.5 months.

The Exceed version of the Mitsubishi Xforce and other Xpander variants are currently available at dealerships, but the stock is limited, ranging from 2 to 3 units depending on the dealership’s size. To stimulate sales, customers who purchase the Xforce Exceed version are eligible for cash incentives, bringing the price of the premium model down to the GLX level, approximately VND 599 million.

We reached out to two Toyota dealerships in Ho Chi Minh City with the intention to purchase a Fortuner, and in both cases, the sales consultants informed us that they had “no vehicles available.” Mr. Tuan A. (Ho Chi Minh City), a sales consultant at a Toyota dealership, stated that both versions of this SUV are currently out of stock.

The Toyota Innova Cross HEV version in pearl white and black colors is still available, but these are display units, and the quantity is limited to 1-2 units. Notably, a customer quickly placed a deposit on the Innova HEV in white while the salesperson was introducing the vehicle.

Toyota Innova Cross is out of stock at many dealerships.

Regarding the pure gasoline-powered Innova Cross, most dealerships are out of stock. Customers can place a deposit and wait until the end of December. As there are quite a few buyers for this version, vehicle delivery will be based on the order sequence, likely extending the waiting time until January 2025.

“The gasoline version is sold out until the end of December, and the factory will deliver a limited number of vehicles to dealerships,” added Mr. Tuan A.

Short Supply but Fair Prices

Unlike previous years, despite the shortage, customers do not have to pay a premium to receive their vehicles early. This is because the popular imported car models in Vietnam cannot guarantee supply, so whether there are additional incentives or not, both the consultants and dealerships find it challenging to confirm an accurate delivery date to customers.

Assembled vehicles in Vietnam rarely face shortages, as the factories can control the production process. However, due to various factors, some dealerships still have empty showrooms during this promotional period.

For instance, the C-segment SUV Kia Sportage is experiencing a “surplus in some places and shortage in others” situation, where some dealerships have no vehicles available, while others have excess stock but lack customers.

Kia Sportage is out of stock at some dealerships.

Mr. Phan P. (Hai Phong) shared that his family wanted to purchase the Kia Sportage 1.6 Signature but could not find their preferred color at the local dealership. However, he was unable to order the vehicle from another dealership.

“I wanted to buy the Sportage 1.6 Signature in Jug Green, but the dealership in Hai Phong doesn’t have it in stock, and the price at other dealerships in Hanoi or neighboring provinces would not be as competitive due to Kia’s regional sales policy,” said Mr. P.

A sales consultant at a Kia dealership in Ho Chi Minh City explained that the end of the year is when the demand for car purchases increases, coinciding with the conclusion of the government’s promotional registration fee program. As a result, customers are eager to take advantage of the promotions, leading to shortages at some dealerships.

The salesperson assured that the factory is actively producing vehicles, and the stock in the warehouses is sufficient to meet customer demand. Due to the increased demand, dealerships need more time to arrange the order sequence and verify vehicle availability.

In Vietnam, the Kia Sportage is not a prominent name in the C-segment SUV market, as its sales figures often fall into the slower-selling category. In the first ten months of the year, Thaco Vietnam sold a total of 2,373 Kia Sportage units. The vehicle is offered in eight versions, with prices ranging from VND 799 million to VND 999 million.

With the shortage of some car models, it is likely that dealerships will offer accessories and add-ons during the final months of 2024 and the beginning of 2025 to generate additional revenue during this peak season.

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