Mercedes, BMW, Audi, and Volvo have been slashing their prices by hundreds of millions of dong (VND100 million = US$4,200) in October.
Audi is offering discounts on its A4, A6, A8L, Q2, Q3, Q5, Q5 Sportback, Q7, A7 Sportback, and Q8 models of up to VND300 million.
Mercedes is offering discounts of 6-10% on some locally assembled models such as the C-class and E-class, and 3% on imports like the GLB and GLS.
The C-class, which has a price tag of VND1.599-2.099 billion, is getting discounts of 6%, equivalent to VND95-125 million.
Mercedes is subsidizing registration, which costs 10% in HCMC and 12% in the north, by half for locally made vehicles. The registration fees are calculated based on car prices in each locality. The rates are 12% in Hanoi and northern Hai Phong City, and 10% in Ho Chi Minh City.
Volvo also bears half the registration cost for all models except the V60 Cross Country line for which it pays the full fee.
Truong Hai, a BMW distributor, is offering big discounts.
The prices of the X5, Series 5, Series X3, and Series 3 have been cut by VND160 million, VND80 million, VND70 million, and VND50 million.
Some luxury car distributors said demand is up in October, though still lower than a year ago.
Analysts do not expect vehicle sales to reach last year’s figure of 500,000.