Cars race to raise prices, Vietnamese customers buy more expensive cars by the hundreds of millions

Cars race to raise prices, Vietnamese customers buy more expensive cars by the hundreds of millions

Since the beginning of the year, Toyota, Kia, Peugeot or Mercedes-Benz… have repeatedly adjusted the prices of different models. Some products went up around 5 million VND, but there were also models that went up over 100 million VND.

Mercedes-Benz

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 1

C200 Avantgarde at the dealership (Photo: Xuan Nghiem).

The German automaker has taken the lead in raising prices, having adjusted prices four times since the start of the year. In particular, two major adjustments, increasing the price of many models from 10 to 120 million dong such as GLC, E-Class, S-Class or some performance branches such as GT-R, AMG…

According to the dealer, the increase in the price of Mercedes cars is due to the lack of chips and components that make up the car. For some imported models, the impact of increased prices also comes from higher transportation costs. Mercedes-Benz’s most recent price adjustment for the C-Class model, an increase from 10 to 125 million dong.

Toyota

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 2

Land Cruiser is offered for sale in a private store (Photo: Tong Do).

The most recent and strongest price increase is for the Land Cruiser, with a price tag of 96 million, bringing the car’s selling price to 4.1 billion. Indeed, this model is sold by a private reseller outside for nearly 2 billion VND for lack of stock.

Previously, in May, Vios, Yaris, Raize, Innova, Camry, Corolla Cross, Alphard, Land Cruiser Prado and even Land Cruiser models adjusted their selling prices, with an increase from VND 5 to 40 million. In this price adjustment, Land Cruiser is the highest tank, 40 million dong.

Toyota’s luxury brand Lexus also adjusted in May. Price increases include ES, RX 300, RX350, GX and LM, adjusted by 40 million to 70 million VND.

That

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 3

Kia Seltos at the launch event (Photo: Thaco).

The Korean automaker has adjusted prices twice this year. Many car models adjust the price up to several times. In May, Kia Sonet, Seltos and K3 raised their prices by VND 5-10 million. In September, Kia K3 continued to increase the price by VND 15-25 million.

Some other Kia models also increased in price in September, including Morning, K5 and Carnival with an increase of VND 10-40 million. Before that, the company also adjusted the prices of Kia Seltos several times with an increase of 5 to 10 million VND. According to the dealer, the price of the car has increased due to the change in the price of the input components.

Suzuki

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 4

The new Suzuki Ertiga model was launched in September (Photo: Suzuki).

Since June, most of Suzuki’s passenger cars have increased their list prices slightly. Ciaz increased by 6 million, Swift by 10 million, Ertiga by 9 million and the brand’s most popular model, XL7, also increased by 10 million.

Most of Suzuki’s models increase in price with the addition of minor upgrades such as screens or leather seats. Currently, Ertiga has a new hybrid version with the highest price of 678 million, one hundred million more expensive than the previous price.

Peugeot

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 5

Peugeot 5008 model at the dealership (Photo: Anh Duong).

The French car brand, distributed by Thaco, also raised car prices from September. .

According to the agent, the price increase stems from the impact on the cost of transporting components from Europe to Vietnam. Increase the listed selling price, but the French automaker still has a preferential policy of 10 to 30 million VND for certain products.

Mazda

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 6

The CX-8 is the most expensive model of this period (Photo: Thaco Mazda).

The Japanese automaker has adjusted the prices of certain products from September 25 with the reduction of certain versions of the Mazda2, Mazda3, CX-3 and CX-5 series. Add more versions for Mazda6.

The highest increase of the CX-8 Luxury model costs 110 million VND. The maximum discount for the CX-3 Premium model is VND 70 million. According to the dealer, the price increase and decrease for certain models began in July, but each time the company adjusted prices for certain models, the adjustment lasted until September.

MG

Cars race to raise prices, Vietnamese customers buy hundreds of millions more expensive cars - 7

MG5 model at the launch event (Photo: Anh Duong).

The British car brand, owned by a Chinese company, announced a price increase for two MG5 and MG ZS products in Vietnam, with an adjustment of 9 to 14 million dong. The biggest increase is the standard MG5 version, 14 million more expensive. The remaining car versions all increased by 9 million.

According to the dealer, the price adjustment is due to the fact that imported cars are affected by supply, which leads to increased costs. The price has increased, but MG5 and HS have not changed equipment. The dealership also said MG will temporarily suspend distribution of HS samples due to merchandise supply difficulties.

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