Over the past week, the domestic car market has witnessed a wave of significant price reductions and promotions from various car manufacturers and dealerships, amidst weak consumer demand and rising inventory levels.
Most brands have launched year-end promotional programs, including cash discounts, registration fee support, free maintenance packages, insurance, or accessories to stimulate consumer spending.
According to retail systems, current inventory levels are approximately 200,000 units, while manufacturers continue to import new vehicles, intensifying the pressure to reduce prices to attract customers.
Stargazer priced 50 million VND less
Mr. Do Thanh Minh, a sales manager at a car showroom in An Dong Ward (Ho Chi Minh City), noted that consumer demand remains sluggish due to economic uncertainties, high-interest rates, and expectations of deeper discounts later in the year. “Many dealerships are forced to accept substantial price cuts, even sacrificing profits to clear inventory and maintain cash flow,” Mr. Minh shared.
Hyundai is offering significant discounts on multiple models: Palisade reduced by 215 million VND to over 1.2 billion VND, Santa Fe by 145 million VND, Tucson by 55 million VND to around 700 million VND, Stargazer by 50 million VND to 440 million VND, Accent by 55 million VND to 395 million VND, and Elantra by 28 million VND.
Palisade model reduced by over 200 million VND
At Mitsubishi dealerships, the newly launched 2025 Xpander Cross, available for less than a month, has been discounted by 70 million VND to 630 million VND, along with a 10 million VND insurance gift.
Kia offers a 45 million VND discount on the Seltos and a 20 million VND discount on the Sonet, plus a 10 million VND voucher and one year of physical insurance.
Not only mainstream models but also many luxury vehicles have seen deep price adjustments. The Honda CR-V e:HEV RS is reduced by 150 million VND to 1.1 billion VND; Subaru Outback by 400 million VND to 1.7 billion VND; Volkswagen Teramont Limited by 350 million VND to 1.79 billion VND; and the Mercedes-Benz E300 AMG by up to 700 million VND, now just over 2 billion VND.
Many newly launched models have had to significantly reduce prices
