Car dealers are about to stop reducing prices
2 mins read

Car dealers are about to stop reducing prices

Reducing car registration fees by 50% has only been approved by the Prime Minister in terms of policy, and there are no specific instructions on the time of application.

Many dealers began to `threaten` to cut incentives to urge customers to close their cars, after many buyers postponed taking their cars, waiting for a reduction in registration.

A locally assembled Honda City model on display at a dealership in Ho Chi Minh City.

`To optimize profits, it is normal for dealers to cut promotions. When customers buy a lot of cars, the number of cars is no longer abundant, and the supply is less, the car prices will no longer be as good as they are now,` said the representative.

The locally assembled Top version of the City costs 599 million, the dealer offers a discount of 40 million in May and customers save this amount.

At a Toyota dealership in Binh Thanh district, the number of customers coming to see cars has increased since the beginning of last week.

In both Hanoi and Ho Chi Minh City, dealers have adjusted the prices of some car models, cutting incentives by about 10-30 million for key models such as Vios and Fortuner due to increased customer demand but limited supply.

Some Hyundai dealers in Hanoi also moved to reduce incentives by VND 5-10 million on many car models, others returned to listed prices like Hyundai Accent.

Car dealers are about to stop reducing prices

A Vios with manual transmission at a dealership in Binh Thanh District, Ho Chi Minh City.

Not only the dealership staff, the media representative of a Korean car company also said that the factory is lacking components because of covid-19, so the supply may not be abundant in the near future.

According to sales consultants, the actual decision to buy a car depends on the customer’s need for a car, because the registration fee reduction is unknown when it will be applied.

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