Sales down, many cars have big price drops

Passenger car assembly line at the factory of Truong Hai Auto Corporation ( Thaco ) in Chu Lai Open Economic Zone, Nui Thanh district, Quang Nam province. Illustrative photo (document): VNA

In May 2025, the Vietnamese auto market witnessed an unprecedented price reduction race, opening up a "golden" opportunity for consumers to own new cars at a reasonable cost. This was a quick response from automakers after April's sales dropped, creating an important turning point for the market.

After a difficult April, May saw many car brands compete to reduce prices and launch attractive incentives. Toyota reduced registration fees by up to 50% for Vios, Veloz Cross, Avanza Premio, Yaris Cross and Corolla Cross models, equivalent to a reduction of 23 million to 46 million VND, and also offered a 3-year free maintenance package.

Similarly, Honda also reduced 50% of registration fees for many key models such as City, CR-V, Civic and BR-V with a reduction of 30 million to 70 million VND, depending on the version and model. Mazda, Kia and VinFast also joined the price reduction race, increasing the attractiveness of the market with diverse support programs...

In addition to discounts, dealers also apply many incentives on installment loans with low interest rates, support for trading in old cars for new ones, and free after-sales services to attract customers and create a healthy competitive environment.

Notably, among the segments, 5-seat and 7-seat SUVs are being prioritized for the biggest price reductions due to rapid growth in purchasing power and consumer trends favoring multi-purpose, convenient vehicles. Models with large promotions of hundreds of millions of VND are usually manufactured in 2024 or are about to have a new version.

Hyundai Santa Fe is considered the highlight of this price reduction with a reduction of up to nearly 200 million VND, bringing the actual selling price of the basic version down to about 1 billion VND - an "extremely attractive" price compared to when it was launched on the market. Kia Sorento is not far behind with a reduction of 55 to 80 million VND, making this SUV a formidable competitor in the segment with an unprecedentedly attractive price.

In addition, models such as the Mazda CX-5 and Ford Territory are also discounted from 35 to nearly 90 million VND, giving customers many choices in the mid-range to high-end price range. The Subaru Forester "shocked" with a discount of up to 230 million VND, expanding the opportunity to own a car for many customers with limited budgets.

In addition, 7-seat SUV models such as Isuzu mu-X, Mitsubishi Pajero Sport, and Ford Explorer also received deep incentives to prepare for the new version this year, contributing to creating fierce competition but with many benefits for consumers.

According to the Vietnam Automobile Manufacturers Association (VAMA), sales in April 2025 reached only about 24,800 units, down nearly 12% compared to the same period last year, marking the lowest level in many months. The main reason is that the economy is still unstable, consumers are tightening their spending, and the psychology of waiting for deep discount programs in May has delayed purchasing power.

In addition, tax and registration fee support policies that had boosted the market in previous years are no longer in place, increasing the cost of car ownership and reducing its appeal to customers. High interest rates on car loans are also a factor that limits consumers from spending money.

Faced with this situation, car manufacturers and dealers have quickly implemented many large-scale stimulus programs, focusing on direct discounts, financial support, free insurance and after-sales services to stimulate demand and maintain purchasing power in the coming time.

Prospects for growth momentum

According to industry experts, the price reduction and deep stimulus in May 2025 is an important step to help the Vietnamese automobile market overcome the difficult period and create growth momentum in the third quarter and the end of the year. If the Government continues to implement preferential registration fee policies as in previous years, car purchasing power is forecast to recover strongly, helping businesses in the industry stabilize and develop.

For consumers, this is a rare opportunity to own new cars at reasonable prices, especially focusing on the popular SUV and CUV segments, along with flexible loan conditions and attractive after-sales incentives from individual manufacturers and dealers.

Despite being affected by many difficult factors from the macro economy and tax policies, car manufacturers and dealers have taken quick and flexible steps to recover sales, while bringing practical benefits to consumers. Choosing the right time to buy a car not only helps save costs but also enhances the experience of using a modern, safe and more convenient car.

In addition, the trend of shifting to green and electric vehicles is gradually taking shape in the Vietnamese market, promising to create positive changes in the overall picture of the automobile industry in the coming years.

Experts expect the Vietnamese automobile market to recover steadily and develop sustainably in the last months of 2025, bringing more benefits to both businesses and consumers.

According to VNA

Source: https://baokhanhhoa.vn/khoa-hoc-cong-nghe/o-to-xe-may/202505/doanh-so-giam-hang-loat-o-to-giam-gia-manh-0e46538/