Traditional cars race to increase prices despite pressure from electric cars

In the first five months of 2022, brands from Ford, Kia, Toyota, Lexus, and Mercedes simultaneously increased their selling prices in Vietnam.

Only in the first quarter of 2022, there were 5 brands of Ford, Kia, Toyota, Lexus, Suzuki announced a price increase compared to 2021, citing the lack of supply of components for assembled vehicles as well as the supply of imported cars from ASEAN.

Ford announced new selling prices for its two main models, including locally assembled Ranger and imported Everest. Specifically, Ranger increased the price by 12 million dong in a series of versions, the imported Everest car line also increased by 12 million dong. The price of Ford Everest from 2022 is set at 1,193 – 1,412 billion VND.

Kia, a brand distributed by Thaco Auto, only increased prices on the three most popular models in Vietnam, including Sonet, Seltos and K3. Kia Sonet’s price increased by 10 million VND compared to before 2022. The Seltos model increased slightly by 5 million VND in all three versions, to 639 – 749 million VND.

Suzuki’s best-selling model is the XL7, which has increased in price since April

Suzuki has three models that increase the price from April, the Ciaz is 6 million dong, to 535 million dong. Swift new price 560 million dong, up 10 million dong compared to before. Suzuki XL7, Suzuki’s best-selling model, increased by 10 million, to 600 million.

Toyota Vietnam also confirmed the application of the new price list from the beginning of May. The billion-dollar imported cars such as Land Cruiser Prado, Land Cruiser, Alphard increased the most by 40 million VND/car.

The most “gentle” price increase is 5 million VND / unit with the Vios sedan. The price of Toyota Vios from May will apply a new level of 483 – 635 million VND.

In the luxury car segment, like the Lexus line, dealers have informed customers with an increase of 70 million dong for the two LM and GX models, 60 million for the RX 350, and 50 million for the RX 300.

Some brands do not officially raise prices, but there is a phenomenon of selling at dealers, such as the line Mercedes car GLC is interested, the dealer staff all complain about the car and customers spend an extra 30 – 50 million VND if they want to have the car delivered right away.

Hyundai’s first electric car launched to Vietnamese customers in April 2022

Also in the past two months, a series of electric vehicle brands have been launched in Vietnam, which is expected to put pressure on internal combustion engine vehicles, when all companies have good evaluation of the prospects. car market Vietnam in the near future.

Specifically, at the end of March, right after VinFast launched the VF8 mid-size electric car at the factory, it was Hyundai’s turn to launch the Ionig 5 electric car in a grand event at the factory in Ninh Binh.

Next, the leader of Mercedes-Benz Vietnam also revealed information and pictures about the popular EQS electric car of the three-pointed star brand, which is expected to return to Vietnam on the occasion of the October auto show.

Communications director of a car company with an assembly plant in Vietnam shared with PV Traffic Newspaper: “Electric vehicles are not heavy enough to overwhelm petrol and diesel cars in all aspects, so the price increase of traditional cars has increased. At this time, it simply reflects a marked increase in the demand for cars due to the tax policy that is beneficial to consumers, while the number of cars produced cannot be sold in time.