Luxury cars are heavily discounted, but customers are still hesitant to pay

While the popular car segment is recovering, the luxury car market in Vietnam remains gloomy. Mercedes-Benz, BMW, Audi… have all reduced prices by hundreds of millions of dong, but purchasing power has not improved significantly.

Discounted by hundreds of millions of dong, luxury cars still have difficulty leaving showrooms - Photo: CONG TRUNG

Audi, Mercedes-Benz, BMW "race" to reduce prices

Although it has entered the second half of 2025, many luxury car models are still in stock from 2022 and 2023. According to records, to stimulate demand, luxury car brands have simultaneously entered the price reduction race with incentives of up to hundreds of millions of dong.

From July 23, Audi Vietnam will directly reduce 200 million VND for the Audi Q5 model, 160 million VND for the Audi A6, 130 million VND for the Audi Q7 and 60 million VND for the Audi Q3.

Mercedes-Benz is no exception to this trend. At the LiveRARE event in early July, the company announced exclusive incentives including 1-year physical insurance, 2-year maintenance vouchers at authorized service workshops, or direct discounts of up to 250 million VND for high-end cars such as AMG, Maybach, S-Class.

Some old car models are also heavily discounted such as C43, C63 VIN 2023 reduced by 70 - 90 million VND, old generation S450 4MATIC manufactured in 2022 - 2023 reduced by 110 - 120 million VND, GLA, GLE lines reduced by 60 - 90 million VND.

Not only gasoline cars, a series of Mercedes electric cars are also discounted such as EQS 450+ V1, EQS 580 4MATIC, Maybach EQS 680 SUV... with a direct discount package of 60 million VND or a free 2-year charging package at the EVOne network.

Many BMW car models have reduced prices - Photo: CONG TRUNG

Meanwhile, Thaco Auto, the BMW distributor in Vietnam, also reduced prices on a number of models. For example, the BMW 3-series was reduced by VND130 million, the X3 by VND136 million, the 5-series by VND337 million, and the Z4 by VND208 million.

Notably, the 2023 BMW X7 model is discounted by up to VND 818 million, equivalent to the price of a popular C-class car.

Volkswagen has been selling off its US-imported SUVs since mid-July. Some dealers said Volkswagen reduced the price by 300 - 350 million VND for the US-imported Teramont Limited, produced in 2022 - 2023. The price after the reduction is only 1.788 billion VND, the lowest in the full-size SUV segment over 1 billion VND.

In addition, the Teramont X Luxury version is supported with 50% of the registration fee (about 99 million VND), while the Viloran 2025 model is reduced to 2.088 billion VND (Premium version) and 2.288 billion VND (Luxury version).

Purchasing power has not improved, luxury cars continue to be "in storage"

Many car dealers in Ho Chi Minh City said that cash flow is still difficult to circulate, real estate has not improved, causing the luxury car market to be significantly affected. Purchasing power compared to last year has improved but not significantly.

Because luxury cars are products that are strongly influenced by the psychology and financial situation of the middle and upper classes. When the investment market is less active, buyers will prioritize keeping cash instead of spending billions of dong on assets that depreciate easily like cars.

Currently, many dealers still have VIN 2022 - 2023 cars in stock, forcing companies to continuously adjust prices, add gifts, and after-sales services to stimulate consumption. However, consumption is still slow and it is difficult to predict a short-term recovery trend.

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Source: https://tuoitre.vn/xe-sang-dai-ha-gia-khach-van-de-dat-xuong-tien-20250730150736698.htm