Sales are sluggish, MG cars are discounted by hundreds of millions to clear inventory.

MG - a British car brand but owned by a Chinese company, entered the Vietnamese market in August 2020. Currently, this brand is distributing 5 models including MG HS, MG RX-5, MG ZS, MG5 and New MG5.

Currently, most MG cars are being heavily discounted by dealers to clear inventory.

Mr. Quang D, a salesman at an MG dealership in Ho Chi Minh City, shared: "There are still many VIN 2023 cars (produced in 2023) in the dealership's warehouse, and very few imported VIN 2024 cars. Customers who buy VIN 2023 cars will receive more price incentives than VIN 2024 cars."

Specifically, the MG RX-5 C-size SUV model is listed at 739-829 million VND, now reduced by up to 120 million VND. After the discount, the RX-5 STD version is only 619 million VND, the high-end RX-5 LUX version is only 709 million VND. This price is even cheaper than some models in the lower segment than B-size SUVs such as KIA Seltos (599-739 million VND), Honda HR-V (699-871 million VND),...

The listed price of the MG HS model is from 699-749 million VND, the cheapest in the C-segment, but facing sluggish sales, this brand also has to reduce prices to reach more customers. Accordingly, the MG HS VIN 2023 car is discounted by about 65 million VND, the VIN 2024 car is reduced by 45 million VND.

Although the MG ZS model does not receive a discount, the dealer is still supporting 100% of the registration fee, equivalent to a deduction of about 53-63 million VND.

Ms. Hoai L, a saleswoman at MG Binh Tan dealership, said: "If a customer decides to buy an MG ZS, the dealership can still reduce a little bit in addition to the registration fee support." This helps the rolling price of the MG ZS model become the lowest in the B-size SUV segment compared to competitors such as Hyundai Creta, Mitsubishi Xforce,...

The C-class sedan MG5 is currently discounted by up to 50 million VND, but Mr. Quang D. said that this price is still not good because there was a period when it was discounted by up to 80 million VND.

The listed price of MG5 ranges from 523-588 million VND. Currently, the price has been reduced to 473-538 million VND. In addition, the New MG5 has a listed price of 399-499 million VND, with support for the license plate fee in Ho Chi Minh City. This is a car model mainly serving the needs of service.

Since officially entering Vietnam, MG has not been as successful as expected. Although cheap, stylish, and equipped with many utilities, some models are inferior to competitors in terms of safety equipment, weak engines, and poor air conditioning.

At the end of 2023, the MG5 model imported from China to Australia was rated 0 stars for safety by ANCAP, raising a wave of doubts about the safety of the MG5 in Vietnam.

Previously, in 2021, two MG HS and ZS models were accused by customers of sensor errors and unusual noise. The car company later had to compensate customers.

Currently, MG Vietnam does not disclose its sales figures. However, given the general situation of the domestic automobile market being "unsightly", MG is no exception. The simultaneous price reduction of all car models partly shows that this car company is facing many difficulties.