The domestic automobile market has had an impressive recovery with revenue increasing in recent months. Auto manufacturers have launched many new products and offered preferences to boost sales.

Subaru Forester has had the sharpest price decrease. The price of a 2.0i-L decreased by VND249 million from VND1.128 billion to VND879 million in the first week of October. 

A price reduction of VND200 million was applied to 2.0i-S EyeSight. The price is VND1.088 billion instead of VND1.288 billion, effective until October 31.

The D-segment sedan from the German manufacturer Volkswagen Passat has seen prices decreasing sharply by up to VND200 million. 

Volkswagen Passat entered the Vietnamese market in 2016 with prices of VND1.266-1.48 billion. It has had to compete with Toyota Camry, Honda Accord and Mazda6 cars in the same market segment. However, sales are still far below the  Japanese brands.

Volkswagen Passat has ceased distribution in the country. Because of high inventory, sales agents have had to lower prices to clear stock.

In the first week of October Honda CR-V saw a price reduction of VND40-70 million to the E-version, while a cut of VND70-90 million was applied to the L-version.

Meanwhile, other models are becoming more expensive because of a supply shortage.

Analysts believe that the supply of car parts for assembling and manufacturing will only become stable the following year. 

Currently, auto manufacturers are relying on Chinese supply sources, while China still has not fully reopened its door. 

Meanwhile, logistics costs have increased sharply, which has forced manufacturers to adjust selling prices. 

Toyota Vietnam has  increased the price by VND96 million for Land Cruiser LC300. The luxury full size SUV has the new selling price of VND4.196 billion, while the pearl white version is VND4.207 billion, applied since early October.

This is the second time the manufacturer has raised the price of Toyota Land Cruiser LC300. An increase of VND40 million was announced in May.

The prices of cars distributed by Thaco in Vietnam, such as Kia, Mazda and Peugeot, have also been raised. Kia Morning, Soluto, K3 and Carnival have seen prices increase by VND5-40 million. A modest increase of VND5 billion was also plied to the Kia K5 2.0 Luxury.

According to the Vietnam Automobile Manufacturer Association (VAMA), 30,846 cars were sold in August.

Y Nhuy