Hyundai Thanh Cong announced a promotional program for the i10, Accent, Stargazer, Creta, Tucson, and Santa Fe models for July. The Santa Fe receives the highest incentive, totaling 220 million VND. Other models also benefit, with the Stargazer offering 117 million VND, the Accent 89 million VND, the Tucson 85 million VND, the Creta 79 million VND, and the Grand i10 50 million VND.

Factoring in these incentives, the approximate prices for the models are: Santa Fe, 849 million-1.149 billion VND; Stargazer, 452-498 million VND; Accent, 350-480 million VND; Tucson, 684-904 million VND; Creta, 520-636 million VND; and i10, 310-405 million VND.

Hyundai clarified that the announced incentives represent the total value of benefits, not solely direct price reductions. For the i10, Accent, Stargazer, and Santa Fe, the offers include both price cuts and after-sales benefits like extended warranties. However, for the Creta and Tucson, the incentives are solely in the form of price reductions.

Hyundai Santa Fe, the model with the highest discount in July. Photo: Luong Dung

This July promotion marks the fourth consecutive month Hyundai has implemented large-scale incentives, offering up to 220 million VND. The company previously ran similar discount programs in April, May, and June to boost consumer purchasing power.

These continued price reductions reflect the increasingly intense competition in the automotive market. Over recent months, numerous brands have introduced various demand-stimulating programs. For example, Mitsubishi offers full registration fee support or cash incentives for its Xforce, Xpander, and Triton models. Toyota provides registration fee support for certain locally assembled vehicles, and Subaru continues significant price cuts for the 2024 Forester. Additionally, many Ford, Mazda, and Honda dealerships maintain their own unique promotions.

Despite the competitive landscape, Hyundai remains a top-selling brand in the market. In the first five months of the year, Hyundai Thanh Cong sold 21,323 vehicles, including commercial models, averaging over 4,200 units monthly. The Creta led the brand's sales with 3,884 units, followed by the Tucson (3,796 units), Accent (1,980 units), and Stargazer (1,850 units). The Santa Fe, however, sold only 949 units, placing it significantly behind competitors in the D-segment SUV category.

Data from the Vietnam Automobile Manufacturers' Association (VAMA), Hyundai Thanh Cong, and VinFast indicates that Hyundai currently competes with Toyota for second place in the overall internal combustion engine vehicle market. VinFast, meanwhile, maintains its lead through its all-electric product lineup.

Pham Hai