Suzuki Clearance Sale: Massive Discounts on a Range of Models!

Suzuki’s passenger car models have been facing stagnant sales and a decline in popularity, resulting in excess inventory and difficulty in selling their vehicles. To stimulate consumer demand, especially during the inauspicious Ghost Month, Suzuki Vietnam, like most other car brands, offered promotional campaigns and significant discounts in the third quarter of 2024.

In the MPV segment, Suzuki once attracted significant attention with the introduction of the XL7 and Ertiga Hybrid. However, with increasing market competition and the emergence of new models offering aggressive pricing, Suzuki’s duo has gradually lost their appeal.

During August 2024, Suzuki offered discounts of 30-90 million VND on 2023 models of the Ertiga and XL7, depending on the version. Notably, the Ertiga and Ciaz are no longer part of Suzuki’s business plan in Vietnam, and the Swift model has not been available for consumption since the beginning of the year.

The 2023 Suzuki XL7 models have limited stock at dealerships as the new version has already been launched and will be delivered to customers starting in September. Suzuki is offering discounts of around 30 million VND for the 2023 XL7 models.

The Suzuki Ertiga, on the other hand, offers discounts of 80-90 million VND for both the MT and AT versions. This incentive is a combination of factory and dealer discounts. Some dealerships eager to clear stock may offer discounts of up to 100 million VND.

For the Suzuki Swift, there is no new 2024 model yet. The 2023 models are being discounted by approximately 25-30 million VND. Following the closure of the Thailand factory, the Swift is likely to be imported from Japan and will only be available in the mild-hybrid version, similar to the new XL7.

The Suzuki Jimny is the only model in the lineup that hasn’t received significant discounts. Due to its initial popularity, dealerships often sold it at a premium, but now the prices have stabilized at the manufacturer’s suggested retail price without any markup.

When compared to similarly priced high-riding vehicles in the market, such as the Mazda CX-5, Kia Sportage, Hyundai Tucson, and Toyota Corolla Cross, the Jimny falls short in terms of amenities, safety features, cargo space, and rear seat comfort.

Despite the price cuts, Suzuki cars are struggling to convince Vietnamese car buyers, who now have a wide range of options to choose from. Suzuki’s Ciaz sedan, positioned in the B-segment, is almost sold out at dealerships.

Suzuki’s significant price reductions aim not only to clear inventory but also to follow the market trend during Ghost Month, the slowest sales period in Vietnam. Most other car brands, including assemblers and importers like Honda, Toyota, Subaru, and Mitsubishi, are offering cash discounts or supporting 50-100% of the registration fee.

In November 2023, Suzuki Vietnam also offered massive discounts to clear inventory, but sales remained limited. Suzuki dealerships in Vietnam are making efforts to sell off their stock, but it isn’t easy as Suzuki cars in Vietnam have limited competitive advantages, and the market conditions are becoming increasingly challenging.

As of August 2024, Suzuki’s cumulative sales reached 6,736 units, a 26% decrease compared to the same period in 2023. The phasing out of the Ertiga and the reduction in supply of the XL7, Suzuki’s key models, have significantly impacted the brand’s overall sales performance.