The Korean car distributor continues to shock the market by reducing the prices of two crossover models of segments C and D.

After the reduction, Hyundai Tucson has a retail price from 769 million VND, while Santa Fe is only from 969 million VND. The specific reductions are as follows:

(Unit: million VND)

The company’s spokesperson has indicated that in light of the persistently challenging economic conditions, the government’s 50% reduction in registration fees for domestically assembled vehicles is insufficient to stimulate the market. Therefore, the company intends to extend further support through recommended retail discounts. Additionally, it’s anticipated that there might be supplementary incentives when the cars are sold to dealers.

Among the models, the Tucson variant experiencing the most substantial reduction is the specialized 2.0 diesel, with a decrease of 191 million VND. Consequently, the highest price for the Tucson now falls below 900 million VND. Presently, the Tucson’s pricing aligns closely with its competitor in the same segment, the Mazda CX-5.

In the case of the Santa Fe, the most significant decrease is observed in the high-end 2.2 diesel version, which has seen a reduction of 176 million VND, while the standard 2.5 gasoline version has been lowered by 86 million VND. Following this adjustment, the D-size SUV now boasts a suggested price of less than one billion VND, with the highest priced variant standing at 1,299 billion VND, down from the previous 1.45 billion VND.

In the new pricing landscape, Hyundai’s vehicle models are positioned competitively against rivals such as the Toyota Fortuner and Ford Everest. Previously, Hyundai held a middle ground in terms of pricing. With the Fortuner starting from 1,026 billion VND and the Everest from 1,099 billion VND, the Santa Fe now has a new proposed price of less than one billion VND, specifically 969 million VND.

Hyundai Thanh Cong has demonstrated significant resolve in prioritizing high-clearance products. Last month, the Palisade’s introduction into the Vietnamese market in the E segment marked its entry with the lowest price. The shock pricing strategy that was once Thaco’s signature approach is no longer as prominent.

Despite competing in the E-size SUV segment with formidable rivals like the Ford Explorer and Volkswagen Teramont, the Palisade’s pricing is approximately 800 million VND lower. The Palisade’s starting price is only about 19 million VND higher than the highest-priced version of the Santa Fe before the reduction.

Industry experts suggest that without these reductions, different car models would be vying for the same market share. For example, if the Palisade’s price was on par with the Santa Fe’s, the Santa Fe would need to reduce its price to maintain a competitive edge. In turn, if the Santa Fe’s price drops, the Tucson would likely need to adjust its pricing accordingly. These dynamic underscores the competitive nature of the automotive market.

Source: vnexpress.net