In early 2024, with the general market price reduction trend, a series of 7-seater SUVs also reduced their prices to increase attractiveness.
Large 7-seater SUVs
Ford Explorer
Ford Explorer is the 7-seater SUV model with the highest price reduction at the beginning of 2024. The price of this model on Ford Vietnam’s website is now only 1.999 billion VND, a sharp decrease of 440 million VND compared to the old price (2.439 billion VND).
Ford Vietnam’s homepage has updated the new price for Explorer. Photo: Ford dealership
This price is considered as a response to Teramont with the actual selling price at the dealership being 2.099 billion VND. However, the reduction in listed prices helps reduce the registration fee for the Explorer. Meanwhile, Teramont buyers only receive cash incentives.
Hyundai Palisade
The case of Hyundai Palisade is quite special. Although it belongs to the same segment of large 7-seater SUVs as the Explorer, Palisade is currently being distributed in the market and all are 6-seater versions, as the 7-seater version is still under production and has not been delivered to customers yet.
The current Palisade models being offered by dealers are 6-seater versions. Photo: Hyundai dealership
Midsize 7-seater SUVs
Toyota Fortuner
In early 2024, Toyota Vietnam has made two price adjustments for models in various segments. Among them, Fortuner is the model with the highest reduction, from 64-120 million VND. The new listed prices are now 1.055-1.35 billion VND.
Despite this adjustment, Toyota Fortuner still has difficulty surprising Ford Everest, as the gap that needs to be filled is very large (63 units compared to Everest’s 785 units in January 2024). The goal of getting closer to Fortuner is probably to at least regain the 3rd position in the segment.
Toyota Fortuner is the first upgraded and price-adjusted D-segment SUV in 2024. Photo: Toyota dealership
Mitsubishi Pajero Sport
If Fortuner has reduced the listed price, then the model currently at the 3rd position in the segment (based on January 2024 sales) has chosen to offer a 50% reduction in registration fees worth from 56.5 to 68.5 million VND, along with 1 year of physical insurance (valued at nearly 20 million VND). This offer applies to customers buying diesel, automatic versions of Pajero Sport.
Mitsubishi Pajero Sport surprised with 136 units sold in January 2024. Although still far behind the best-selling model in the segment, but has increased significantly compared to a year ago (8 units). Photo: Mitsubishi dealership
Kia Sorento
Kia Sorento is a competitor that Fortuner also needs to be cautious of in the segment and has also made a move to reduce the listed prices for 8 out of 12 versions distributed in Vietnam.
Kia Sorento slightly reduced the listed prices. Photo: Kia dealership
