The Great Price War: Vietnam’s Auto Industry Revs Up for a Fight

From segment A cars to large SUVs, almost every category is witnessing attractive incentives, with the participation of most brands operating in Vietnam.

Hyundai offers celebratory discounts for the reunification holiday

Hyundai Thanh Cong, a joint venture, recently announced a promotional program to commemorate the 50th anniversary of National Reunification Day (April 30) and International Workers’ Day (May 1). The offer applies to seven models: Grand i10, Accent, Stargazer X, Creta, Elantra, Custin, and Santa Fe.

Buyers will receive a discount equivalent to 70% of the registration fee, saving them tens of millions of dong, depending on the model and registration location. Notably, the Santa Fe 2.5 Turbo Calligraphy offers the highest discount, amounting to approximately VND 100 million in localities with a 12% registration fee.

Kia and Mazda join with significant incentives

Truong Hai Auto Corporation (THACO) has also launched widespread promotions for both Kia and Mazda brands.

For Kia, the discounts range from VND 10 million to VND 50 million. The Carnival hybrid version receives the highest incentive of VND 50 million, while the diesel versions are offered a one-year physical insurance package. Key models such as the Sportage, Carens, Seltos, and Sonet also benefit from incentives ranging from VND 11 million to VND 20 million, along with additional insurance for select versions.

Meanwhile, Mazda is offering incentives on the CX-5, CX-30, CX-3, CX-8, Mazda2, and Mazda3. The Mazda CX-5 is discounted by VND 35 million, bringing the price down to VND 714 million, the lowest since its launch in Vietnam. Other models, including the Mazda CX-30, CX-3, CX-8, Mazda2, and Mazda3, are also discounted by VND 20 million, VND 12 million, VND 14 million, VND 15 million, and VND 13 million, respectively.

Toyota and Ford join the fray

Toyota Vietnam continues its stimulus policy with incentives ranging from VND 23 million to VND 38 million for the Vios, Veloz Cross, Avanza Premio, and Yaris Cross. Specifically, the Toyota Vios offers discounts from VND 23 million to VND 27 million. The Toyota Veloz Cross has incentives from VND 23 million to VND 33 million. The Toyota Avanza is discounted by VND 28 million to VND 30 million. And the Toyota Yaris Cross sees a reduction of VND 33 million to VND 38 million.

Ford Vietnam is also stepping up its promotions. The Ford Territory offers direct discounts from VND 20 million to VND 30 million. The Ranger Sport and Wildtrak versions receive support for 50% of the registration fee, equivalent to almost VND 30 million. The Explorer continues to be discounted by nearly VND 100 million, deducted directly from the listed retail price.

Promotions spread across the market

In addition to the above brands, numerous other brands, such as Mitsubishi, Honda, Nissan, MG, Omoda & Jaecoo, have launched promotional programs. Even popular models like the Mitsubishi Xpander, Mitsubishi Xforce, Mazda CX-5, Ford Territory, and Toyota Yaris Cross are included in the incentives.

This “price war” can be attributed to various factors, including abundant supply, high inventory levels, and a slowdown in market demand. Additionally, the continuous launch of new models prompts automakers to implement stimulus policies to maintain sales volume and market share.

According to experts, the trend of price reductions and incentives is likely to persist in the coming period, especially with intensifying competition among brands. Consumers now have more choices in terms of products and pricing, further fueling the need for attractive offers.

TH (Tuoitrethudo)