Hyundai is offering significant discounts on a range of their vehicles, including the Santa Fe, Tucson, and Palisade, with price cuts ranging from tens to over a hundred million Dong. In addition to cash discounts, some dealerships are also offering free accessories with purchases.
For the large SUV Palisade, dealerships are offering a discount of approximately 30 million Dong for all 2024 models, bringing the price down to between 1.442 and 1.559 billion Dong. However, the most notable offer is for the 2023 Palisade, where dealerships are providing an incentive equivalent to a 100% registration fee waiver. This equates to a savings of between 148 and 160 million Dong for customers.
Dealerships are offering a 100% registration fee waiver for the 2023 Hyundai Palisade
According to Mr. Tuan Anh, a sales representative at a Hyundai dealership in Hanoi, the number of Palisade 2023 models eligible for this discount is limited, mainly consisting of the Exclusive 6-seater (1.479 billion Dong), Prestige 7-seater (1.559 billion Dong), and Prestige 6-seater (1.589 billion Dong) variants. The standard Exclusive 7-seater variant is no longer available, and the 100% registration fee waiver varies depending on the model and the customer’s registration location.
In Vietnam, the Hyundai Palisade competes in the SUV segment with the Ford Explorer (priced at 2.099 billion Dong) and the Volkswagen Teramont/Teramont X, which range from 1.998 to 2.499 billion Dong.
Similarly, the Hyundai Santa Fe SUV is also being offered with discounts on all variants except for the Hybrid model (priced at 1.269 billion Dong). The standard gasoline and diesel Santa Fe models are being discounted by 40 million Dong, while the premium gasoline model receives a 60 million Dong discount (varying across dealerships). After the discounts, the Santa Fe’s price ranges from 939 million to 1.179 billion Dong.
Santa Fe is being offered at discounted prices ahead of the launch of its new version
In addition to the price reduction, dealerships are also offering free genuine accessory packages to enhance the appeal of the Santa Fe. According to industry insiders, this is a very attractive price for a 7-seater SUV like the Santa Fe. However, the significant discounts could also be a strategy to clear inventory in anticipation of the upcoming launch of the new Santa Fe model, which is expected to arrive in September or October 2024. Dealerships have already started taking bookings for the new model, despite limited information being available at this time.
In Vietnam, the Hyundai Santa Fe competes in the mid-size SUV segment against rivals such as the Kia Sorento, Toyota Fortuner, Ford Everest, Isuzu mu-X, and Mazda CX-8.
Another Hyundai SUV, the Tucson, is also being offered with discounts, although not as substantial. The Tucson Turbo, priced at 919 million Dong, has been reduced by 4 million to 915 million. The special diesel variant, originally priced at 909 million, is now offered at 875 million, a discount of 34 million Dong.
The Hyundai Tucson is being offered with minor discounts
According to sources, these discounts are likely a strategy to clear inventory in preparation for the upcoming launch of the Tucson’s mid-life facelift in Vietnam. Dealerships have shared that Tucson stocks are limited, with only the special diesel and turbo variants remaining, as the standard gasoline and special gasoline models are sold out.
In the Vietnamese market, the Hyundai Tucson competes in the compact SUV segment against rivals such as the Mazda CX-5, Honda CR-V, Mitsubishi Outlander, Kia Sportage, and Peugeot 3008.
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