Vietnam car buyers charged thousands of dollars above sticker prices

Several Ford, Hyundai and Toyota dealers in Vietnam are shocking customers by charging them thousands of dollars more than the sticker price, citing cost of accessories.

The highly popular seven-seater SUV Ford Everest has a sticker price of VND1.452 billion ($61,200), but Ho Chi Minh City resident Phan Quoc Thang in Tan Phu district got the surprise of his life when a dealership informed him that he would have to pay almost VND2 billion (more than $84,000) to own one.

“When I asked them, they said I have to pay more for car accessories. Without them, it would not be a complete car,” he said.

A District 3 resident, who preferred to remain unnamed, said when he visited the Ford Cao Thang dealership in the same district to ask for the selling price of a Ford Everest Titanium, he learnt he had to pay VND200 million ($8,430) higher than the sticker price.

“I paid VND50 million [$2,100] as a deposit this May when Ford did not have the sticker price for this SUV. The dealership told me that buying accessories was a must, but did not say how much. When Ford announced the sticker price this July, the dealership told me I must pay another VND200 million for a set of accessories including heat reduction film, ceramic coating and underbody coating.”

He added he could take back his deposit and contact another dealership, but this would take more time because this product was not available for delivery.

On OFFB, a forum with nearly one million members who share a passion for cars, a series of posts have complained about the need to pay much higher than the sticker price for a Ford Everest.

Different dealerships in HCMC have different selling prices for the seven-seater. Nguyen Tuan, a salesman at a Ford showroom in Tan Binh district, said a Ford Everest Titanium in the highest class would cost VND172 million ($7,250) above the sticker price. And that was not all. It would take another VND150 million ($6,325) or so for a set of accessories for fast delivery.

“The set of accessories includes heat reduction films, maintenance services, ceramic coating, underbody coating, car insurance, floor mats and a trip camera.”

The salesman said the buyer could say no to the set of accessories under the condition that he/she deposited VND50 million ($2,106) for delivery in the first quarter of 2023, and the selling price plus registration fees and taxes would be about VND1.62 billion (around $68,300).

The Investor sent interview questions on this issue to Ford Vietnam's team in charge of media relations, but has not received any response.

At other car dealers, the five-seater Toyota Raize has a minimum gap of VND100 million ($4,215) between the sticker price and the actual one. Those who want to buy a Hyundai Tucson or Hyundai Santa Fe have to pay an additional VND150 million above their sticker prices.