Honda reduces prices of imported cars, highest 220 million VND

In the last month of the preferential registration fee policy for domestically assembled vehicles (Decree 109) being applied, Honda reduced prices for imported vehicles to increase competitiveness. The small MPV Honda BR-V reduced prices by offering a 50% preferential registration fee.

BR-V priced at 661-710 million VND has a rolling cost reduction of about 33-35 million VND. Honda applies a 10% registration fee incentive, so even if the registration location is different, the rolling cost reduction is the same.

Honda BR-V's competitors such as Mitsubishi Xpander and Suzuki XL7 also offer a 50% discount on registration fees. Currently, there are only three domestically assembled models in the segment that are enjoying government incentives under Decree 109: Toyota Veloz, Avanza and Kia Carens.

Having similar incentives as the BR-V is the Honda HR-V, a B-size CUV imported from Thailand. The HR-V costs 699-876 million VND, equivalent to a reduction in rolling costs of 35-43 million VND.

With the D-size sedan, Accord, Honda still has 2023 models at dealerships, although the quantity is not much. The pressure to sell off as 2024 comes to a close has caused Honda to continue to heavily discount the Accord by 220 million VND.

The Honda Accord is currently trading at 1.099 billion VND at dealerships. The Accord's rival, the Toyota Camry, has just had a new generation in Vietnam, priced at 1.22-1.53 ​​billion VND.

In Vietnam, Honda currently assembles two lines, the CR-V and City, while the rest are imported from Thailand and Indonesia. After three quarters of 2024, Honda sold 17,654 vehicles, up 17% over the same period last year. This sales volume ranked 7th in the market after Toyota, Hyundai, Mitsubishi, Ford, Kia and Mazda.