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The Mazda CX-5 made waves when it launched its new model in early July 2023, with a starting price of 749 million VND that quickly accelerated its sales performance.
One of the main reasons for the strong sales growth of the Mazda CX-5 in the latter part of the year is believed to be its competitive pricing. At the time, the Mazda SUV was one of the most affordable options in the market.
The Leader Ignites a Price War
Prior to the launch of the new model, the cumulative sales of the Mazda CX-5 for the first six months of the year were 5,423 units, not far off from the Ford Territory’s sales performance of 3,473 units.
In July 2023 alone, the Mazda CX-5 sold 1,665 units, and this high sales volume was maintained in the following months, even helping the SUV become the best-selling car in the entire Vietnamese market consecutively from August to November 2023.
With a total of 16,808 units sold in 2023, the Mazda CX-5 left its competitors behind: the Ford Territory sold 8,096 units, the Hyundai Tucson sold 6,164 units, and the Honda CR-V recorded sales of 5,758 units.
The significant gap in sales figures likely prompted the Ford Territory, Honda CR-V, and Hyundai Tucson to step up their game.
In late October of last year, Honda introduced an upgraded CR-V, alongside the launch of the e:HEV RS version, featuring a hybrid engine, a rare offering in this segment. This version is imported from Thailand, unlike the purely gasoline-powered versions of the Honda CR-V, which are assembled locally.
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Entering 2024, both Hyundai Tucson and Ford Territory made their respective moves to shift the landscape of the C-segment SUV market.
Hyundai unveiled a facelifted Tucson with minor exterior changes, an upgraded cabin, and new pricing, starting at 769 million VND. Compared to the 825 million to 1.02 billion VND price range when it was first launched in 2022, the facelifted Tucson now offers a more affordable option with a reduction of 41-66 million VND depending on the version.
More recently, Ford also announced new pricing for the Territory, now starting at 759 million VND and peaking at 889 million VND. As a result, all versions of the Ford Territory in Vietnam are now 40 million VND cheaper than before.
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Honda CR-V, after launching its upgraded version last year, has also adjusted the pricing of its locally assembled versions.
With a reduction of 60-80 million VND, the Honda CR-V ‘G’ version is now priced at 1.029 billion VND, still a bit higher than the Mazda CX-5, Hyundai Tucson, and Ford Territory, but overall more accessible.
When They All Become Affordable
Following the latest moves by its competitors, the Mazda CX-5 remains the most accessible SUV in the C-segment, with a starting price of 749 million VND and a top price of 979 million VND.
With a new starting price of 759 million VND, the Ford Territory is now the closest in price to the Mazda CX-5. The Hyundai Tucson, with a starting price of 769 million VND, is also not far off from its American and Japanese rivals.
The Kia Sportage, known for its diverse range of versions, starts at 779 million VND and goes up to 999 million VND. The Mitsubishi Outlander has a starting price of 825 million VND, while the most affordable option for the Honda CR-V is now the ‘G’ version, priced at 1.029 billion VND.
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Hyundai Sells 67,168 Cars in 2024 in Vietnam
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The Ultimate Honda Experience: Now with an Unmissable 50% Discount on Registration Fees, Making the CR-V Yours for Just Over 900 Million VND.
Honda is offering an incredible deal this January 2025, with a 50% discount on registration fees for popular models such as the CR-V, City, HR-V, and BR-V. This is a fantastic opportunity for customers to get behind the wheel of these sought-after vehicles and experience the renowned Honda quality and performance. With this offer, Honda is making a bold statement, showcasing their commitment to making their vehicles accessible and affordable without compromising on the features and capabilities that their brand is known for. So whether you’re in the market for a sleek and versatile SUV like the CR-V, the compact and efficient City, the stylish HR-V, or the spacious BR-V, now is the perfect time to take advantage of this exceptional offer from Honda.
