December has turned into a buyer’s market in Vietnam, as automakers roll out record-breaking discounts and fee waivers in a bid to boost year-end sales.
Vietnam’s car market is experiencing an unprecedented wave of discounts this December, with prices dropping to record lows as automakers scramble to attract buyers. The push includes not just price cuts, but also full coverage of registration fees - bringing significant savings for consumers during the peak pre-Tet shopping season.
A visit to car dealerships in Hanoi reveals dozens of models are now on offer with promotions covering up to 100% of the registration fee.
Big-name models, big-time deals
Camry is currently the model with the highest discount in Toyota’s lineup. Photo: Ngo Minh
Among joint-venture brands, Toyota leads the way in incentives. Four of its models - Vios, Avanza Premio, Veloz Cross, and Camry - come with 100% registration fee coverage.
The D-segment sedan Toyota Camry, priced between USD 49,000 and USD 61,500, now comes with a reduction of USD 4,900–6,150 in registration-related costs, marking its steepest drop in years.
The small MPV segment, including Avanza Premio and Veloz Cross, sees discounts of USD 2,600–3,000, bringing effective prices down to USD 19,800–23,500 - making them direct competitors to the Mitsubishi Xpander, the current segment leader.
The bestselling B-segment sedan, Toyota Vios - with 9,898 units sold in the first ten months of 2025 - is also being offered with USD 1,850–2,150 in discounts, reducing the actual price to USD 16,100–19,600 and solidifying its market dominance.
Unlike Toyota’s broad rollout, Honda is offering full registration fee coverage only for its City model and the Civic e:HEV RS (VIN 2024), excluding the BR-V L.
Honda City remains Honda’s best-selling model in Vietnam for 2025. Photo: Ngo Minh
Honda City, the company’s top seller in Vietnam with 7,664 units sold through October, now offers savings of USD 2,000–2,300 on a list price of USD 20,100–22,900. The Civic e:HEV RS gets a flat USD 4,100 discount.
Honda’s cumulative sales to October stood at 15,059 units, slightly down 0.5% year-over-year.
Ford remains focused on its flagship pickup, the Ranger, offering 100% registration fee coverage for most variants (excluding XL), equating to savings of USD 2,400–3,200. With 14,453 units sold in the first ten months of 2025, the Ranger maintains its top position in the segment.
Hyundai, instead of waiving fees, is directly slashing prices: USD 2,600 off the Accent, USD 3,500 off the Stargazer, USD 7,200 off the Santa Fe, and up to USD 8,000 off the Palisade. These cash discounts far exceed the value of typical registration fees, positioning Hyundai as the most aggressive discounter this month.
Imported models are joining the fray. Mitsubishi is offering fee waivers across all models: USD 1,500–1,900 off the Attrage, USD 2,400–2,800 off the Xpander/Xpander Cross and Xforce, and USD 1,600–1,900 off the Triton.
Ranger is the only Ford model receiving full registration fee support. Photo: Ford Vietnam
Even newly launched models now receive immediate discounts to attract customers. Photo: Ngo Minh
The recently launched Mitsubishi Destinator is now discounted by USD 1,650–1,900, bringing its actual price down to USD 29,600–32,400. With 15,087 Xpanders and 9,888 Xforces sold so far in 2025, Mitsubishi continues to ride a wave of growth.
Suzuki is also joining the competition, applying fee waivers to the XL7 Hybrid - equivalent to USD 2,900 in savings - bringing its price down to USD 22,000–22,300.
The new compact SUV Fronx, launched less than a month ago, now sees a USD 2,500 discount for its GLX version, reducing its price to USD 22,500 and positioning it competitively among Japanese and Korean rivals.
Meanwhile, Chinese automaker Omoda & Jaecoo is going all in with a 100% fee waiver for the Omoda C5, equating to USD 2,200 in savings. This brings its effective price down to USD 19,800 - on par with A-segment SUVs like the KIA Sonet, Toyota Raize, and Hyundai Venue.
Why the deep discounts?
Just launched, the Suzuki Fronx is already being discounted by up to USD 2,500. Photo: Ngo Minh
Behind these heavy discounts lies a growing concern: unsold inventory and sales pressure as the year closes.
A Toyota dealership employee in Hanoi explained that the sluggish market throughout 2025 has forced carmakers and dealers into a survival mode, slashing prices to clear inventory.
“If we don’t sell all the 2024 or early-2025 VIN vehicles this month, they’ll immediately become ‘aged stock’ in 2026, making them even harder to sell. That’s why we’re dropping prices to near cost - even for niche models or those about to receive an upgrade,” the employee said.
Even high-volume models like the Toyota Vios, Honda City, Ford Ranger, and Mitsubishi Xpander aren’t immune to the race to the bottom. This aggressive pricing is also a response to the rising interest in hybrid and electric vehicles, which are gaining both media attention and consumer interest.
From an expert’s perspective, Nguyen Anh Dung, an analyst with Oto.com.vn, said, “The car market this December heavily favors buyers. Dealerships are willing to take minimal profits - or even sell at cost - to meet factory quotas. This gives buyers more room to negotiate and demand extras like maintenance packages, insurance, or accessories.”
“But big discounts don’t automatically boost demand,” he added. “Consumers are still cautious, weighing not just the price tag but also running costs, depreciation, and resale value. Car brands are being forced to think beyond upfront discounts and focus on total cost of ownership.”
Vietnamnet.vn
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