Ford dealers said the price of Everest Titanium version increased by 12-16 million, Territory increased by 10-19 million, and Explorer increased by 40 million from April 1^st.

Many salespeople from dealers of Ford Vietnam said that the price of the US automaker will be adjusted simultaneously from upcoming April, except for pickup model Ranger. The expected change is as follows:

* Units: million VND; snow white, red orange… color is slightly more expensive, about 7-14 million VND higher.

Dealers said it was unclear why the company had raised prices, while the U.S. joint venture provided no additional information.

This is the second price increase for Ford Explorer, which is their largest SUV model in Vietnam. Explorer’s new price of VND 2,349 billion is equal to the price of its competitor Volkswagen Teramont at launch. Teramont from the beginning of 2023 increased by 150 million in price, to 2,499 billion.

With the C-size CUV series, about Territory, only the Trend standard version (822 million VND) has the price unchanged. The other two versions, Titanium and Titanium X, increased by 10 million and 19 million VND respectively, to 909 million and 954 million VND. The new price of the Ford Territory is quite close to its competitor Mitsubishi Outlander (825 – 950 million) and lower than several models such as Mazda CX-5 (839 – 1,059 million VND) or Honda CR-V (998 – 1,138 million VND).

Except for the standard version, Ford Everest from Sport and other versions above, all have the price increased by 12-16 million VND. The new price is 1,099 – 1,468 billion VND, nearly equal to Toyota Fortuner (1,026 – 1,470 billion VND).

In the context of quieter purchasing power compared to the same period in 2022, most brands discounts and promotions continuously, meanwhile Ford has done the opposite. However, Ford isn’t the only one. At the end of 2022, brands such as Mercedes, Toyota, Volkswagen, Ram, Jeep announced to increase car prices from the beginning of 2023 despite predicting a decrease in purchasing power in the market. The interpretion for the price increase given by the automakers is due to exchange rate changes, inflation, fluctuations in production costs or equipment upgrades.

In Ford’s circumstance, models that are about to increase in price are also being heavily promoted at dealerships. Currently, Everest is reduced by 30 million VND accompanies with accessories, Territory is reduced by 30-40 million VND, Explorer is still strongly offered, a rate of 100 million VND reduction accompanies with accessories.

Automakers are proposing that the government reduce registration fees like in the covid-19 years, in order to lift the market up. However, for customers, reduction amount does not increase significantly, since in previous times, when registration fees are reduced, promotions from automakers will be significantly reduced.

Source: vnexpress.net