Dealers struggle to find customers, car prices drop by more than 400 million VND
With just over a month left until 2023 ends, purchasing power in the market remains very gloomy, forcing dealers to sharply reduce car prices to attract customers. Many car models manufactured in 2022 are still in stock and deeply discounted.
The auto market is in the final sprint phase of the year. However, according to the reporter's records, since the beginning of November, many car models have been offered incentives and discounts by manufacturers and dealers. Some cars manufactured since 2022 are still in stock, forcing them to lower their prices to the "floor".
Subaru Outback 2022 reduced by 440 million VND
Most recently, dealers are offering Subaru Outbacks manufactured from 2022 with remaining inventory at a discount of up to 440 million VND. The Subaru Outback currently distributed in Vietnam is a slightly upgraded model of the 6th generation (launched worldwide in 2019). The car has only 1 version using a 2.5L engine and is imported completely from Japan.
Subaru Outback originally had a listed price of 1.969 billion VND. Thus, with this price reduction, the price of the 2022 Subaru Outback is now only 1.529 billion VND. This is considered a bargain for those who love Subaru cars.
For Subaru Outback cars with VIN 2023 (manufactured in 2023), the price is also quite high, up to 312 million VND, helping the car price to only 1.787 billion VND.
In addition to the Outback, the Subaru BRZ and WRX VIN 2022 are also discounted up to VND 307 million. The discounted selling prices of these two models are VND 1,592 billion and VND 1,742 billion, respectively.
Old Honda CR-V reduced by more than 200 million VND
The 2024 Honda CR-V has been launched, so the inventory of 2023 old cars at dealers is currently being sold at an unprecedented low price. Accordingly, at some dealers, the 2023 Honda CR-V is discounted from 145-165 million VND depending on the version and color. Customers who buy a car also receive a promotional accessory package worth 40-60 million VND.
Specifically, a dealer posted an ad to sell a 2023 Honda CR-V L version in red paint for 953 million VND, a reduction of 165 million VND compared to the listed price (1.118 billion VND), the remaining paint colors are only reduced by 140 million VND.
With the Government's 50% support for registration fees for domestically manufactured and assembled vehicles, the Honda CR-V 2023 currently has a total incentive of about more than 200 million VND.
The 2024 Honda CR-V has 4 versions, including G, L, L AWD and e:HEV RS, with prices ranging from 1.109 - 1.31 billion VND. Thus, if you accept to buy an old car, you will save a significant amount of money.
Volvo luxury cars with discounts up to over 300 million VND
In November, Volvo launched incentives for all products including XC40, XC60, XC90, V60 Cross Country and S90. Notably, Volvo V60 Cross Country received incentives of up to 100% of registration fees, equivalent to VND 322.8 million. Customers who buy Volvo XC60 and Volvo S90 Ultimate also received 100% of registration fees, equivalent to cash amounts of VND 290 million and VND 230 million, respectively.
The Volvo XC90 luxury SUV is offered a 50% discount on registration fees, helping customers save up to VND279 million with the Recharge Ultimate version and VND243 million with the Ultimate version. Similarly, the Volvo XC40 Ultimate also receives a 50% discount on registration fees, equivalent to VND107.4 million.
Volvo models sold in Vietnam are currently imported as complete units, so they do not enjoy the 50% reduction in registration fees from the Government. Therefore, this program will partly help the car company compete for market share with its rivals.
Honda City reduces 100% registration fee
Honda Vietnam continues to offer 50% of registration fees to customers who buy the City compact sedan in November. Accordingly, along with the Government's support policy for domestically produced and assembled vehicles, Honda City will have a total incentive of up to 100% of registration fees.
Honda's promotion program applies from November 6-30, 2023. Honda City in Vietnam has 3 versions and the selling price ranges from 559 - 609 million VND. With a 100% reduction in registration fees, customers will save from 56 - 61 million VND, depending on the version and province or city of registration.
Honda City 2023 is equipped with a 1.5L, DOHC, 4-cylinder i-VTEC gasoline engine, producing a maximum capacity of 119 horsepower at 6,600 rpm and maximum torque of 145 Nm at 4,300 rpm. The engine comes with a CVT continuously variable transmission.
Honda BR-V discount 66 million VND
Honda BR-V is a completely imported vehicle, so it does not enjoy the 50% registration fee incentive from the Government. In November 2023, the standard Honda BR-V G version will receive a 100% registration fee incentive, while the corresponding rate for the high-end L version is 50%.
Currently, Honda BR-V costs 661 million VND for the G version and 705 million VND for the L version. With the company's incentive program, customers can save about 66 million VND for the G version and 35 million VND for the L version.
The 2023 Honda BR-V is equipped with a 1.5L, DOHC, 4-cylinder i-VTEC gasoline engine, producing a maximum capacity of 119 horsepower at 6,600 rpm and a maximum torque of 145 Nm at 4,300 rpm. Connected to it is a CVT automatic transmission and front-wheel drive.
Nissan car series reduces 100% registration fee
In November, Nissan Vietnam continues to implement a 100% registration fee incentive program for all car models distributed in the domestic market, and at the same time, offers a trip to Japan and Thailand to customers who win the lottery.
Accordingly, for the registration fee incentive program, the Nissan Kicks model is the model that receives the highest incentive, up to more than 100 million VND. Specifically, customers who buy a Nissan Kicks e-Power will save 79 - 103 million VND (depending on the version and province/city of registration).
The Nissan model receiving the second highest incentive in November is the Nissan Almera. For the Nissan Almera, the incentive program applies to both CVT and Premium CVT versions. The selling prices of the two versions are VND539 million and VND595 million, respectively. The promotional value of this sedan ranges from VND54 to VND71 million.
Similarly, the Nissan Navara pickup truck has 3 versions: EL 2WD, VL 4WD and PRO-4X with corresponding selling prices of 699 million, 945 million and 970 million VND, also enjoy 100% preferential registration fee in November. Thus, customers buying a car this month can save from 70 - 116 million VND.