Kia K3 Slashes Price by 21 Million VND to Boost Segment Competitiveness

According to VAMA in the first 2 months of 2024, Kia K3 maintains 2nd position in the C-class sedan segment in Vietnam.

Entering April 2024, Kia Vietnam simultaneously reduced prices of all automatic versions of Kia K3, of which, the K3 Luxury version reduced the most to 564 million VND. However, the standard version has not been reduced, so the starting price of K3 2024 remains at 549 million VND.

According to the VAMA report for the first 2 months of 2024, Kia K3 maintains the 2nd position in the C-class sedan segment in Vietnam. However, Kia K3's combined sales in the first 2 months of 2024 are only 280 cars, a sharp decline compared to sales of 529 cars in the same period in 2023.

According to the new price list, it can be seen that the starting price for the Kia K3 1.6 MT version remains at 549 million VND. However, automatic K3 versions have been reduced from 5-21 million VND. The sharpest reductions are the two versions 1.6 Luxury and 1.6 Premium with reductions of 21 and 20 million VND respectively.

While the two high-end versions 2.0 Premium and 1.6 Turbo GT have a slight decrease of 10 and 5 million VND, respectively. This is also the first time in 2024 that Kia K3 has adjusted its selling price. Previously, at the end of 2023, Kia Vietnam dealers simultaneously "discharged" Kia K3 1.6 MT VIN 2022 with a selling price of less than 500 million VND.

Although the market has ups and downs in sales, the Kia K3 is still one of the two leading car models in the C-class sedan segment thanks to factors that are highly appreciated by the market. Compared to competitors in the same segment, Kia K3 2024 has a much more attractive price.

Although it belongs to the C-segment sedan segment, the Kia K3's selling price is even lower than many cars in the B-segment car segment. In the first 2 months of 2023, along with the Kia K3, sales of all C-segment sedans in Vietnam all decreased sharply. Although Mazda3 is the best seller in the segment, it still decreased from 786 to 632 vehicles, Hyundai Elantra also decreased from 463 to 229 vehicles.

Toyota Corolla Altis sales plummeted from 302 to 85 cars, becoming the worst car in the segment. Meanwhile, Honda Civic sales surpassed Corolla Altis but still decreased from 255 to 171 cars. It can be seen that the C-class sedan segment is facing difficulties as the Vietnamese auto market is starting to change its tastes. Users began to favor high-riding cars, overlooking sedans in general and C-class sedans in particular.

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