As the year draws to a close, automakers in Vietnam are offering significant discounts, some reaching nearly half a billion VND, to boost sales in the final month of 2024. Both locally assembled and imported vehicles are part of the promotional frenzy.

The Vietnamese car market has become increasingly vibrant in December 2024 with a slew of new models and diverse promotional programs. Automakers are slashing prices, waiving registration fees, and including accessories to attract buyers. This aggressive pricing comes amidst waning consumer demand following the expiration of the government’s 50% registration fee support policy.

BMW has announced one of the most aggressive discount policies, offering a 10% price reduction for its iX3 and i4 models. This translates to savings of approximately 350-380 million VND, along with a complimentary Wallbox fast charger. For loyal customers, BMW adds an extra 50 million VND discount, bringing the total benefits close to half a billion VND for select models.

Other BMW models are also seeing attractive incentives, including price cuts equivalent to 50-100% of registration fees, accessories, and official maintenance packages.

Toyota is offering significant registration fee support, covering 50-100% for popular models. The Yaris Cross and Corolla Cross come with reductions ranging from 33-38 million VND, while the Vios is discounted by 23 million VND. MPV models like the Veloz Cross and Avanza Premio receive full registration fee waivers, equivalent to savings of 56-66 million VND depending on the model.

Honda Vietnam has slashed up to 250 million VND off the Accord sedan, bringing its price down to 1.069 billion VND. Other models, such as the Honda City, benefit from registration fee reductions of 25-28 million VND, while the CR-V is now priced over 100 million VND less, starting at just above 900 million VND.

Ford is also stepping into the race, offering 50% registration fee support for its best-selling Ranger and Everest models. Additional cash discounts for the Everest range from 15-22 million VND, while the Ford Territory SUV sees its list price cut by 40 million VND.

KIA and Mazda have introduced substantial discounts across their lineups. The KIA Sorento now comes with reductions of up to 110 million VND, depending on the version. Models like the KIA Seltos offer savings between 30-40 million VND. Mazda is discounting the Mazda6 sedan by 85 million VND and including accessories, while the CX-5 gets a smaller reduction of around 20 million VND.

Mitsubishi is rolling out model-specific promotions, with top savings reaching nearly 60 million VND when converted into cash. All Mitsubishi models are eligible for 50% registration fee support, fuel vouchers worth 8-25 million VND, and various accessories depending on the model and version.

Hyundai is offering maximum discounts of up to 90 million VND, depending on the model and version. Customers can also receive complimentary accessories, material damage insurance, and preferential loan interest rates for installment purchases. Notably, the Hyundai Creta is being sold with a full registration fee waiver.

Meanwhile, Skoda has reduced prices for its imported Kodiaq and Karoq SUVs, waiving 100% of registration fees and including a 30 million VND voucher for new buyers. Depending on the model, total savings range from 144-166 million VND.

Automakers and dealerships hope these aggressive promotions will provide the momentum needed to close out 2024 with strong sales figures. They aim to match or come close to the record-breaking sales achieved in October and November, despite challenges in the broader market.

Nguyen Tien Dung