For instance, in March 2024, Toyota Vietnam announced new retail prices for some car models with a maximum reduction of up to VND47 million while the Hilux model was offered for sale at attractive prices. Accordingly, the price of the Japanese manufacturer Toyota-produced car model Toyota Vios was reduced from VND21 million-VND47 million depending on the version and Vios E-MT model had the lowest price with only VND458 million.
This is also a car model favored by transport businesses thanks to its reasonable price, durable operation and low maintenance costs.
Although the Toyota Veloz Cross is no longer as hot as it was in 2022, it is still in the top 3 best-selling car sales of Toyota in Vietnam after Vios and Corolla Cross. In March, this car model's price was sold from VND638 million to VND660 million or its price was reduced to VND20 million-VND38 million.
Mitsubishi Motors Vietnam dealers also maintained a 50 percent discount program on registration fees for car models including Attrage, Outlander, Pajero Sport, and Triton. At the same time, customers who buy these car models will also receive accessories such as a reversing camera, 360 camera, and shark fin antenna in March. Particularly, dealers also give a 360 camera for the Premium version of the best-selling car model in the market, Mitsubishi and buyers of the remaining 2 versions will be given gifts worth VND10 million-VND15 million.
In particular, the price of Mitsubishi Xforce car line suddenly dropped from VND19 million to VND21 million depending on the version right after its launch. The promotional program has been applicable for all customers who purchase or deposit a car from March 2024, or those who have made a deposit before.
Honda also reduced new car prices in March but did not apply to the listed price but deducted costs directly. Accordingly, those who buy all CR-V models released in 2023 will receive a cash discount of VND30 million, 100 percent registration fee support, along with a number of other incentives from Honda dealers. For their part, City RS, HR-V, Civic and Accord all receive a reduction equivalent to 50 percent in registration fees, insurance and several other incentives.
Luxury auto brand Mercedes-Benz has also just conducted a series of discounts on 2022 inventory models, including 15 car versions of the following lines such as C-Class, E-Class, GLA, GLB, GLE, and V-Class.
Dealers of Mercedes-AMG GT 53 4MATIC+ Couple FL model offered substantial discounts up to VND 719 million; hence, buyers only pay VND5.99 billion to own a car. Three other versions of the Mercedes-Benz GLE 450 also saw a discount of up to VND669 million bringing the price to VND3.89 billion - VND3.99 billion. Some other models have lower reductions from VND210 million to VND320 million.
Notably, prices of Mercedes-AMG high-performance car models this time also dropped dramatically for instance, Mercedes-AMG GLE 53 4MATIC+ Coupe was reduced by up to VND620 million and it fetches VND2.23 billion.
Generally, unlike in 2023, car manufacturers and distributors have begun to adjust their sales policies and incentive programs to sell all used cars while boosting sales of strategic car models and launching the latest products. They are also ready for all choices when the market recovers.
