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The MPV segment enters the last week of June with many deals. Photo: Bối Hạ. |
Before the Vietnamese car market welcomes the first-time registration fee incentives for locally assembled cars, the small MPV segment has already implemented a high-value promotional program worth tens of millions of VND.
Slow-selling cars with large promotions
Suzuki Ertiga Hybrid, launched in the Vietnamese car market since September 2022, still cannot become the new growth engine for Suzuki in Vietnam and shows the potential to replace the position left by the previous generation.
After 5 months of the year, Suzuki Ertiga Hybrid is the slowest-selling model in the budget MPV segment if we ignore the sales figures of the only variant using conventional engines.
The accumulated sales of Suzuki Ertiga Hybrid from the beginning of the year until now are 211 units, with the peak sales figure of 52 units established in February.
Therefore, Vietnam Suzuki has launched incentives for both manual and automatic transmission versions of the Suzuki Ertiga Hybrid to stimulate demand and boost sales.
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Suzuki Ertiga Hybrid still cannot sell well in the Vietnamese market. Photo: Vĩnh Phúc. |
Specifically, the manual transmission version of the Suzuki Ertiga Hybrid produced in 2022 is supported with a 50% registration fee exemption, equivalent to a value of 26 million VND. The automatic transmission version of this model is offered a 50% registration fee exemption along with a 2-year comprehensive insurance package, bringing the total value of incentives in June to 50 million VND.
Notably, some Suzuki dealerships also offer a cash discount of up to 70 million VND for the automatic transmission Ertiga Hybrid. Therefore, the selling price of this model after incentives is only 538 million VND, lower than the manual transmission version of the Mitsubishi Xpander.
In June, customers buying Suzuki XL7 also enjoy promotional programs. The best-selling passenger car model from Suzuki in Vietnam is implemented with a 50% registration fee exemption along with a one-year comprehensive insurance package worth 40 million VND.
Japanese, Korean cars compete in price reduction
Although being a newcomer in the segment when it was just launched in the Vietnamese car market in the late 2022, Hyundai Stargazer to date has temporarily surpassed the Suzuki XL7 to become the third best-selling budget MPV model in the Vietnamese car market, after the Mitsubishi Xpander and Toyota Veloz Cross.
The good sales of Hyundai Stargazer mostly come from promotional programs through registration fee support provided by dealerships throughout the early months of the year.
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Sales of Hyundai Stargazer temporarily surpass Suzuki XL7. Photo: Bối Hạ. |
Currently, the selling price of the Hyundai Stargazer Standard version is at 498 million VND, the Special version is priced at 541 million VND, while the Premium version is offered at 587 million VND.
Therefore, Hyundai Stargazer is the MPV model with the best promotional program in the Vietnamese market. However, this discount of nearly 90 million VND is only applicable to Stargazer Premium models produced in 2022.
Another newcomer in this segment is the Kia Carens, which also has attractive discounted prices compared to the previous suggested retail prices. Currently, gasoline engine versions of the Kia Carens are reduced by 30-60 million VND and range from 589-659 million VND.
The turbocharged gasoline engine versions of the Kia Carens are priced at 725-769 million VND, while the diesel engine-equipped versions are priced at 829 million VND and 859 million VND respectively.
By the end of May, the Mitsubishi Xpander is the best-selling budget MPV in the segment and also the car with the best sales figures in the entire Vietnamese car market. This small-sized MPV achieved accumulated sales of 6,699 units from the beginning of the year, equivalent to nearly 1,340 units per month.
In June, customers buying the Xpander will receive a 100% registration fee exemption, a one-year comprehensive insurance, and a discounted interest rate loan package. In addition, the company also offers customers a 360-degree camera worth 20 million VND if they choose to buy the Mitsubishi Xpander in June.
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Mitsubishi Xpander shows strong sales performance in the small-sized MPV segment. Photo: Vĩnh Phúc. |
For Toyota Veloz Cross and Avanza Premio, the promotional program for customers buying cars in June has a maximum value of 32 million VND, including one year of insurance and a gift package worth 15 million VND.
Currently, the Toyota Veloz Cross is the second best-selling MPV in Vietnam with sales of 3,640 units after 5 months. Hyundai Stargazer ranks third with 1,727 units sold since the beginning of the year, slightly more than the 1,239 units achieved by the Suzuki XL7.
In the budget MPV segment, only the manual transmission Mitsubishi Xpander, Kia Carens variants, and Toyota Veloz Cross/Avanza Premio are assembled locally. The rest of the models in the segment are imported directly from Indonesia.
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