Auto makers in rush to launch promotions

To survive the tough times given the stagnant market at home, several auto producers have entered the race to woo buyers by launching many promotional programs.

VinaMazda, the official maker and distributor of Mazda cars in the local market, this Monday said buyers of Mazda 2 and 3 within this month would be given discounts and one-year car insurance.

The company has decided to cut the price by up to VND45 million to between VND755 million and VND817 million for Mazda 3 1.6 liter engine of automatic and manual transmissions respectively. Also, the firm will reduce the price of the subcompact Mazda 2 by VND13 million for customers besides giving them accessories attached to the cars.

Truong Hai Auto JSC (Thaco), which specializes in Kia products, previously announced to pull down prices of some locally-assembled cars. Kia Sorento CKD’s prices at Thaco are slashed by VND15 million as the highest discount besides a combined VND45-million promotional programs.

The prices of other assembled CKD cars of Thaco like Carens and Forte are also revised down while buyers of Kia Morning receive gifts only.

Due to the poor sales performance over the last two months, Toyota Motor Vietnam (TMV), the leading auto firm on the local market, has come up with a special program for clients of Fortuner vehicles by offering buyers of Fortuner V, G and TRD Sportivo insurance for their cars.

Ford Vietnam has also launched promotions, with discount levels ranging between VND18.5 million and VND53 million from last month to this month.

At the same time, the company imposes a fixed rate of 14.2% a year for the first six months on those customers taking out loans via its sales agents nationwide. The program runs until late this month, applicable for Focus, Escape, Everest, and Transit.

Similarly, Mercedes-Benz Vietnam (MBV) and Euro Auto, the official distributor and importer of BMW cars in Vietnam, have just finished their promotions to support registration fees for consumers.

In fact, MBV agreed to pay 3% of registration fees for the buyers of C-Class and E-Class models.

Before last Thursday, customers of Euro Auto were also offered respective fee support worth VND158-168 million and VND190-200 million when buying BMW 325i and X1.

Regarding the move to launch promotions among industry players, local experts believed this is just an initial step to stimulate the domestic demand to improve the low sales.

A recent report by the Vietnam Automobile Manufacturers Association (VAMA) showed its members only had a total of 10,390 units consumed in the first two months of the year, dipping 44% year-on-year.