Toyota Yaris Cross reduced by nearly 90 million VND

In early November, Toyota Vietnam increased the promotion for Yaris Cross, from 50% to 100% of the registration fee. Before its launch (September 19), the company announced incentives for this car model in the form of supporting 50% of the registration fee, applicable to customers who buy the car before the end of 2023.

The Japanese company applies a promotion of no more than 73 million VND for the standard version and 86 million VND for the hybrid engine version (HEV). Combined with the dealer's own sales policy, the promotion for Toyota Yaris Cross is about 80-90 million VND.

Registration fee support does not affect the listed price but reduces the rolling cost. Considering the general interests of customers when buying and rolling a car, this promotion is similar to a discount.

The Yaris Cross has a big price reduction because it is an imported car from Indonesia and is not eligible for the 50% reduction in registration fees from the Government (Decree 41) which is only applicable to domestically assembled cars. Similarly, the Mazda CX-3 is also being discounted by 80-100 million VND by dealers. Honda's HR-V model is discounted by 35-52 million VND.

Domestically assembled competitors such as Kia Seltos and Hyundai Creta, in addition to the incentives from Decree 41, which reduces registration fees by 50%, have their car prices at dealerships reduced by an additional 40-50 million VND depending on the version. In general, imported car models are being discounted at the same level as domestically assembled cars.

In November, in addition to the Yaris Cross, Toyota also offered a 50% discount on registration fees for three models: Vios, Avanza and Veloz. All of these cars are assembled domestically. The company also limited the discount for Vios and Avanza to no more than VND30 million, and for Veloz to no more than VND35 million.

After 9 months of 2023, Toyota continues to be the leader in car sales in the entire market when selling 38,490 vehicles, down 40% compared to the same period in 2022. Rival Hyundai ranked behind with 33,890 vehicles sold, down 27%.