The Subaru Forester is among the models offering hundreds of millions of VND in discounts this May. Photo by: Bối Hạ.

The Vietnamese automobile market ended the first quarter with a booming sales report, with a 135% growth in consumption compared to the previous month. Information about an upcoming reduction in registration fees for domestically produced and assembled cars is also expected to boost the market’s recovery in the remaining months of 2024.

As early as May, several car brands in Vietnam launched promotional programs and discounts to boost sales and stimulate the market just before the expected approval of preferential policies for domestically assembled vehicles.

SUV by Subaru

In May, Subaru extended its promotional program for the Subaru Forester SUV in the Vietnamese market.

Specifically, all three versions of the Subaru Forester are being offered with cash discounts, along with a 5-year warranty or a 3.5 million VND mirror folding accessory package.

The Subaru Forester continues to be offered with promotions in Vietnam. Photo by: Vĩnh Phúc.

The highest discount of 250 million VND is for the i-S EyeSight version, applicable only to vehicles in a limited quantity with a crystal moss green paint job. The Forester 2.0 i-L EyeSight version is offered with a cash discount of 210 million VND plus a mirror folding accessory, while the 2.0 i-L version has a cash discount of 120 million VND for customers buying the car this month.

After the discount, the Subaru i-S EyeSight version is priced at 949 million VND, while the i-L EyeSight version costs 889 million VND for customers buying in May. As for the Forester 2.0 i-L, the price after the discount is 849 million VND.

According to Subaru, this promotional program only applies to Forester cars manufactured in 2023. Vietnamese customers who choose to purchase any version of the Subaru Forester in May will receive an additional 5-year warranty with unlimited mileage.

Honda Lineup

Similarly, Honda is extending its promotions for its entire range of automobiles in the Vietnamese market until the end of May.

Honda is offering a cash gift of 220 million VND for customers who purchase the Honda Accord this month, while other models in the Honda automobile range are supported with a maximum of 100% registration fee.

The L and G versions of the 2023 Honda CR-V come with a 100% registration fee promotion in May, along with a 30 million VND cash support or one-year hull insurance package.

The Honda CR-V continues to be offered with a 100% registration fee discount in May. Photo by: Honda.

With a listed price ranging from 1.109 billion to 1.159 billion VND, customers who purchase the Honda CR-V G and L versions in May can enjoy a maximum discount of 141 million VND.

For the Honda City, all three versions are offered with a 50% registration fee discount, along with one year of hull insurance. The Honda HR-V is offered with a 50% registration fee discount, while the Honda Civic is promoted with an equivalent of a 100% registration fee discount for customers buying in May.

In the first three months, Honda sold 6,119 automobiles in the Vietnamese market. The Honda City is currently the best-selling model of the brand, while the Honda HR-V has had a relatively impressive start, surpassing the Honda CR-V to become the second-best-selling model of Honda in Vietnam.

Affordable Japanese MPVs

In May, Toyota is offering a 0% interest rate loan package for the first 12 months or free one-year hull insurance for customers purchasing the Toyota Veloz Cross and Toyota Avanza Premio.

Previously, in March, Toyota also adjusted the listed price of the Toyota Veloz Cross versions, with the highest reduction being 38 million VND. Currently, this small MPV from Toyota is priced at 638-660 million VND, while its “sibling” model, the Toyota Avanza Premio, is listed at 558-598 million VND.

Toyota’s duo of small MPVs are offered with promotions in May. Photo by: TMV.

Also in May, Vietnam Suzuki is offering a 100% registration fee discount, a 0% interest rate loan package, and a fuel voucher for customers purchasing the Suzuki Ertiga Hybrid. The maximum discount for this unique hybrid MPV in its segment is 89 million VND and can be converted to cash.

Meanwhile, the Suzuki XL7 – the brand’s flagship recreational vehicle in the Vietnamese market – is also offered with a 50% registration fee discount. The discount value for the Suzuki XL7 in May is 30 million VND and can be converted to cash.

In the Vietnamese market, the affordable MPV segment is dominated by the Mitsubishi Xpander. This small MPV from Mitsubishi has sold a cumulative total of 3,508 units since the beginning of the year, leading the segment and temporarily ranking as the second best-selling model in the entire market.

The Suzuki XL7 made it to the top 10 best-selling models in the first quarter with sales of 1,346 units, while the Toyota Veloz Cross sold 968 units in the same period. As for the Suzuki Ertiga Hybrid, after a booming sales report at the beginning of the year, it is now facing some challenges. At the end of the first quarter, this small MPV, the only model in its segment with a hybrid engine, sold 632 units, equivalent to an average monthly sales of over 210 units.

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