A series of SUVs reduce price competing with the CX-5: A model is discounted up to 250 million, CR-V offers promotions of over 100 million

The expected price reductions are anticipated to narrow the gap with the "segment sales king" Mazda CX-5.

Since its launch in 2023 with a starting price of 749 million VND, the Mazda CX-5 has become a phenomenon, consistently leading the segment's sales every month. Although it is no longer the cheapest model in its segment, the CX-5 is still often cited as a benchmark to assess whether a car is worth buying.

For this reason, amidst a declining market, other C-segment SUVs are also continuously adjusting their pricing and incentives to change the landscape.

Hyundai Tucson 

Starting from April 1st, Hyundai Tucson has reduced its listed prices by 30-50 million VND depending on the version. Although the company has not explicitly stated the reason for this price reduction, it is said to be aimed at "expanding opportunities for customers to own a car."

Compared to the Mazda CX-5 (759-999 million VND), this Hyundai Tucson is slightly higher in the standard version but lower in the higher versions.

The adjustment of the listed prices will also help reduce the vehicle registration tax. However, updating this price will take some time.

Ford Territory

Also reducing its listed prices, the reduction for the Ford Territory is only 20-25 million VND with the reason being "to enhance competitiveness and continue pursuing the goal of increasing market share in the C-segment SUV."

With the latest listed price starting from 799 million VND, the Ford Territory is 40 million VND higher than the standard Mazda CX-5.

Therefore, after adjustment, the prices of the Tucson and Territory are still higher than that of the CX-5, but now they are more accessible, promising to improve sales.

Kia Sportage

At the end of March, the distributor Thaco adjusted the selling price of the Korean model, reducing the price for only one version, the 2.0G Premium, by 23 million VND.

Currently, the Kia Sportage has a starting price of 799 million VND, and the 2.0G Premium version is priced at 829 million VND. Other versions retain their original prices.

Subaru Forester

The Subaru Forester is currently undergoing a large discount program of hundreds of million VND to clear the backlog of inventory. Specifically, in April 2024, customers buying VIN 2023 cars will receive cash incentives ranging from 120 to 250 million VND depending on the version and color, along with an unlimited kilometer warranty for 5 years.

Additionally, for the 2.0 iL EyeSight version, customers will receive a 360-degree camera accessory worth 3.5 million VND, but it cannot be converted into cash.

Honda CR-V

In the C-segment SUV segment, in addition to models with reduced listed prices, some also choose a monthly incentive strategy. For example, with the Honda CR-V, customers buying cars in April can receive a total incentive value of up to 140 million VND.

Specifically, except for the e:HEV RS version imported completely from Thailand without incentives, all three domestically assembled versions will enjoy a 100% exemption from registration fees based on a 10% registration fee. The L version will also receive an additional year of body insurance, while the standard G version will be supported with an additional 30 million VND in cash. This promotion applies to VIN 2023 vehicles.

Skoda Karoq

In April, the Skoda Karoq has been exempted from 100% registration fees for both the Ambition 1.4 and Style 1.4 versions. With the latest pre-tax prices, the cash conversion value of incentives reaches over 124 million VND (based on the highest 12% registration fee rate). After deducting the incentive, the actual price of the car is only from over 880 million VND.

With the price after the incentive, the selling price of the Karoq is now equivalent to the mid-range version of the CX-5. Before the price reduction, the difference between the Karoq and CX-5 was up to 240 million VND. This amount is enough to buy many used cars depending on factors such as mileage and year of manufacture.

Mitsubishi Outlander

While competitors in the segment may offer discounts or 100% registration fee exemptions, the Mitsubishi Outlander only offers a 50% registration fee exemption along with gifts.

Both the 2.0 CVT and 2.0 CVT Premium versions of the 2023 Outlander are supported with a 50% registration fee exemption (equivalent to 42 to 47.5 million VND depending on the version), along with a complimentary 360-degree camera worth 20 million VND and 1 year of body insurance worth 10 million VND. The total value of incentives is nearly 80 million VND.

However, the batch of 2024 VIN cars will receive fewer incentives, only receiving a complimentary 360-degree camera without a registration fee exemption.

Since Mazda CX-5 established its "destructive pricing" when launched in 2023, this C-segment SUV has consistently topped the segment's sales charts, even ranking first in the overall market in some months. After the first two months of 2024, the Mazda CX-5 continues to lead the C-segment SUV segment with cumulative sales reaching 1,407 units, double that of the second-placed Ford Territory with 610 units. The expected price reductions and incentives are expected to help narrow this gap. However, with such a large difference, it seems that shaking the position of Mazda's "segment sales king" will still be a challenging task.

Original article and pictures by AutoPro