This has been the biggest discount since January 1 this year when the 50% discount scheme on car registration fees finished.
At present, many Kia models such as Kia Cerato, Sorento and Sedona have seen discounts of up to VND50 million (USD2,173) each. The price fall of between VND30-120 million has also been applied for the Mazda CX5, CX6 and CX8 models.
The discount of up to VND50 million offered for Kia's Sorento model
Hyundai Thanh Cong have reduced the prices of Elantra and Kona models by VND15-40 million, especially as Kona is facing fierce competition from the Toyota Cross and Kia Seltos. Meanwhile, Elantra’s big rivals are the Kia Cerato and Mazda 3.
VinFast slashed the prices of its three car models in June, comprising Fadil, Lux A and Lux SA. Fadil model buyers this month enjoy a 100% discount on registration fees, while the discount on the Lux SA is VND60-80 million.
Toyota reduced the prices of VND35 million for its Vios; while Mitsubishi gives customers a fuel card valued at VND25-40 million when buying its cars.
For Ford and Suzuki-branded cars, the discounts are also up to VND45-90 million, depending on different models.
According to the latest report from the Vietnam Automobile Manufacturers’ Association, car sales of Kia, Mazda, Honda, Ford, Toyota, Mitsubishi and Hyundai all saw a drop against April.
Phan Dang Hung, owner of a car dealership in Hanoi, said that discounts were being offered in order to achieve the revenue target for the second quarter. Car sales would also be low in the coming lunar month of July, as Ghost Month is considered an inauspicious time of the year for buying valuable items such as cars as well as doing important things such as holding weddings or ground-breaking ceremonies for houses.
The Covid-19 pandemic has reduced car demand for those wanting to provide taxi services. The end of registration fees discounts had also slowed car sales, Hung said.
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