In mid-February 2024, Honda announced a significant price reduction for its flagship sedan, the City. Specifically, customers buying the Honda City G and L variants will receive a 100% registration fee waiver, equivalent to 55.9-58.9 million VND (about $2,449-$2,577), and a cashback of 30 million VND (about $1,316). This results in a total discount of 85.9-88.9 million VND (about $3,774-$3,907). Meanwhile, the RS variant will receive a 50% registration fee waiver and a complimentary one-year body insurance.
According to dealerships in Hanoi, the Honda City G and L variants will be discounted by 90 million VND (about $3,958) in cash, while the RS variant will receive a 50 million VND (about $2,197) discount.
Consequently, this is considered the largest cash discount since the facelifted Honda City was introduced in the Vietnamese market in the middle of last year.
With this reduction, the post-discount prices for the Honda City are as follows: 469 million, 499 million, and 559 million VND (about $20,574, $21,983, and $24,530) for the G, L, and RS variants, respectively. These prices include all taxes and fees. If purchasing the car outside of Hanoi, the on-road prices will range from 529 million VND (about $23,208) to a maximum of 624 million VND (about $27,377) for the RS variant.
Meanwhile, at the same time, Honda’s rivals in the sedan segment, the Toyota Vios and Hyundai Accent, are both offering around a 50% registration fee waiver, equivalent to a price reduction of 25-30 million VND (about $1,099-$1,318). This means that the on-road price of the Honda City is even lower than that of the Toyota Vios CVT and on par with the Hyundai Accent 1.4 AT.
In the B-segment sedan category, the Honda City is highly regarded for its youthful design, numerous safety features, powerful engine, and good driving experience. However, its price has typically been higher compared to its competitors. However, after Honda’s significant price reduction, the price disadvantage of this model is expected to be mitigated, improving its competitiveness and boosting sales.
In 2023, the Hyundai Accent was the best-selling car in the B-segment sedan category with 17,452 units sold, followed by the Toyota Vios with 13,521 units. The Honda City ranked third with 9,894 units sold. With this strong price reduction at the beginning of the year, Honda seems determined to compete on an equal footing with the aforementioned competitors.
The facelifted Honda City is equipped with a 1.5L engine producing 119 horsepower and 145 Nm of torque, paired with a CVT transmission. One of the notable upgrades in this version is the Honda Sensing safety package, which includes features such as collision mitigation braking, adaptive headlights, intelligent cruise control, lane departure mitigation, lane keeping assist, and forward collision warning.
The RS variant also features Honda Connect, which allows for monitoring, storing, and transmitting the vehicle’s data via mobile networks.
