Car prices plummet at the end of the year.

December became the peak month for price reductions as automakers and dealerships simultaneously launched unprecedented deals in the past three years to boost sales and drive car prices down to their lowest levels in years.

Illustrative photo: AFP/TTXVN

The deepest drop in three years.

Surveys at major distribution systems in Hanoi show that most segments are experiencing significant price reductions, with many models seeing drops of tens to hundreds of millions of VND. Many dealerships believe this year's discounts are "the deepest in three years," creating an unprecedentedly low price level across the entire market.

Most notably, dealerships are offering a 100% registration fee waiver – a direct discount that saves customers 50-150 million VND depending on the model. In addition, they are adding gifts such as accessories, comprehensive insurance, travel vouchers, or lucky draws to increase competitiveness during the fierce year-end sales season.

In the mainstream car segment, Toyota continues to lead in incentives, offering a 100% reduction in registration fees for the Vios, Veloz Cross, Avanza Premio, and Camry models. The Camry, which has a listed price of 1.22 - 1.53 billion VND/car, is currently discounted by 122 - 153 million VND – the largest discount for this D-segment sedan in the past 5 years. The Vios also sees a discount of 46 - 54 million VND, bringing the price down to 402 - 491 million VND/car, creating a significant advantage for both family buyers and those using the vehicle for commercial purposes.

Meanwhile, fellow Japanese brand Honda has opted for a strategy focusing on two flagship products: the City and the Civic e:HEV RS (VIN 2024), with a 100% registration fee waiver. The Honda City currently has a price reduction of approximately 50-57 million VND, increasing its competitiveness in the highly competitive B-segment sedan market. The Civic e:HEV RS has a price reduction of up to 100 million VND, demonstrating Honda's efforts to maintain market share amidst growing customer interest in hybrid technology.

The pickup truck segment also saw unprecedented price reductions. The Ford Ranger – Vietnam's best-selling pickup truck – continues to receive 100% support for registration fees, equivalent to 59-78 million VND. Not only the Ranger, Ford is also offering significant discounts on the Everest, Territory, Transit, and Mustang Mach-E in its "Merry Christmas, Happy New Year" program, including valuable gifts and a chance to win a trip to Northern Europe worth 250 million VND.

Hyundai entered the fray aggressively with significant price reductions for the Accent (up to 64 million VND), Stargazer (86 million VND), Santa Fe (180 million VND), and Palisade (200 million VND). This is considered one of Hyundai's biggest direct price cuts this year, contributing to stimulating demand in the increasingly competitive SUV segment.

Mr. Hoang Tran, residing in Hai Ba Trung ward, Hanoi, who recently placed a deposit for a Hyundai Palisade SUV, shared: “I’ve been monitoring car prices for almost a year and haven’t seen such deep discounts as now. The car is discounted by up to 200 million VND, so I decided to buy it immediately instead of waiting until next year.”

Mitsubishi continues to maintain its momentum by offering a 100% registration fee waiver across its entire product range, from Attrage to Xforce and Xpander. Xpander and Xforce models, in particular, have seen price reductions of 60-70 million VND, helping Mitsubishi maintain stable sales despite pressure from Toyota and Hyundai.

According to Mitsubishi representatives, in 2025, purchasing power will weaken, inventory will increase, while the boom in electric vehicles will put significant pressure on gasoline-powered cars. Therefore, December becomes the most opportune time for manufacturers to clear their inventory, especially as year-end sales targets force them to use incentives as leverage. The current price reductions are the deepest adjustments in the past three years. In this context, December is not only the most favorable time of year to buy a car but also a "golden opportunity" for those considering upgrading their vehicle before the Lunar New Year and before the launch of 2026 models.

Electric vehicles join the incentive race.

Kia's EV6 electric car model. Photo: Yonhap/VNA

Not only gasoline cars, the electric vehicle segment in December 2025 witnessed an unprecedentedly fierce competition in promotions, especially when BYD launched its biggest promotion of the year, "Get a great car - Celebrate Christmas," for all 8 of its current models.

Most BYD models, such as the Seal, Atto 2, Atto 3, Seal 5, Han, and Sealion 6, are included in a comprehensive promotional offer: support for registration fees, a free BYD App, a free 7 kW wall charger, floor mats, comprehensive insurance, and a charging voucher or V2L device. The highest discount, exceeding 80 million VND, is offered for the Sealion 6 Dynamic when combining the registration fee support and additional gifts. This is considered one of the most valuable electric vehicle promotional packages on the market at the moment.

According to BYD Vietnam, this year's promotional program is designed to make it easier for consumers to access new energy vehicle models amidst the surge in demand for electric vehicles at the end of the year. With a product range spanning from small electric cars to luxury sedans and SUVs, and significant discounts, BYD aims to serve diverse needs from families and urban commuting to business services, helping the company expand its customer base, especially in the service business sector.

Meanwhile, imported electric vehicle models such as Volvo, Mercedes-Benz EQ, Hyundai Ioniq, and Kia EV6 are also being offered with discounts of 50-120 million VND by dealerships, mainly to compete with the booming domestic market of BYD and VinFast . Many dealerships report that inventory levels of imported vehicles are higher than expected, forcing them to use incentives to clear stock before 2026.

In the Chinese car segment, Omoda & Jaecoo continues to maintain its price advantage by offering 100% registration fee support for the Omoda C5. This discount of 54 million VND brings the selling price down to just 485 million VND, even lower than many A-segment models, creating a worthwhile option for tech-savvy young customers.

According to industry experts, the surge in incentives in the electric vehicle segment not only reflects intense competition but also shows a clear shift in consumer trends. 2025 is a year of significant differentiation in the automotive market, with electric vehicles increasingly dominating the market, forcing traditional gasoline-powered car manufacturers to intensify promotions to maintain market share.

With prices at their lowest levels in years, December 2025 will become a "golden" time for consumers to buy cars, and will also be a crucial boost to help the automotive market recover and create momentum for a new product cycle in 2026.

Source: https://baotintuc.vn/thi-truong-tien-te/gia-xe-o-to-lao-docdip-cuoi-nam-20251214131314579.htm