(Dan Tri) – Despite the price increase again, the suggested retail price of Ford Explorer is still much lower than in 2023.

From May 1, Explorer’s suggested retail price increased by 100 million VND to 2,099 billion VND.

Previously, in mid-January, the price of Explorer was reduced by 440 million VND to 1,999 billion VND for 2023 VIN cars. Currently, the suffix `2023` no longer appears next to Explorer on the company’s price list, so there is

Some dealers still have VIN 2023 cars in stock but the quantity is not much, buyers still enjoy the price of 1,999 billion VND.

Ford Explorer is imported completely from the US (Photo: Giap Dinh).

A price increase of VND 100 million could create a disadvantage for Ford Explorer when competing with rivals.

Hyundai Palisade is assembled domestically, not only is it cheaper than imported competitors but also has abundant supply, creating conditions for promotional programs at dealers (Photo: Kim Kim).

In addition to the Palisade, the Explorer also faces pressure from the Volkswagen Teramont

Volkswagen Teramont

Ford Explorer used to be a product sought after by Vietnamese customers in 2022. However, the number of cars brought back from the US was not much, leading to a situation of `beer with peanuts` at the dealership, peaking at up to 350 million VND.

In 2023, the large SUV model from the American brand will begin to `cool down`, not only will it run out of `beer with peanuts` but will also receive a discount of 80-100 million VND depending on the dealer.

By September 2023, Hyundai Palisade was introduced, continuing to `deal` another blow to Explorer’s business situation.

Volkswagen Teramont imported complete units from the US, priced up to 2,499 billion VND.

By the end of the first quarter of 2024, Ford Explorer sold a total of 203 cars, losing to Hyundai Palisade (241 units).