Ford Territory Reduces Price by 25 Million VND, Challenging Mazda CX-5 for Customers
Ford Territory Reduces Prices in Vietnam
On April 3rd, Ford Vietnam announced new prices for the Territory, with the aim of improving competitiveness and increasing market share in the compact SUV segment. The new prices for the Ford Territory are 799 million VND for the Trend version, 889 million VND for the Titanium version, and 929 million VND for the Titanium X version. This means a reduction of 23 million VND, 20 million VND, and 25 million VND respectively for each version.
In theory, the adjustment in prices will also lead to a reduction in registration fees. However, the exact implementation date of the new prices is still unclear, as it requires time for the tax authorities to process.
This is the second price adjustment for the Ford Territory since its launch in Vietnam in October 2022. Previously, the American joint venture had increased prices by nearly 20 million VND in April 2023.
After this adjustment, the Ford Territory becomes the fourth cheapest model in its segment, following the MG HS (starting from 699 million VND), Mazda CX-5 (starting from 759 million VND), and Hyundai Tucson (starting from 769 million VND).
Ford Territory Aims to Improve Sales in the Coming Months
The price reduction of the Ford Territory is seen as necessary to attract buyers during the peak shopping season and increase competitiveness against its Korean and Japanese counterparts. In addition to price reductions from the manufacturer, dealerships are also offering special incentives for this compact SUV.
In the Vietnamese market, the Ford Territory is the second best-selling compact SUV, ranking only behind the Mazda CX-5. In 2023, the Ford Territory sold 8,096 units, surpassing its two major rivals, the Hyundai Tucson (6,164 units) and the Honda CR-V (5,758 units).
In the first two months of 2024, the Territory sold 610 units, continuing to maintain a comfortable lead over the Hyundai Tucson (431 units) and the Honda CR-V (326 units). However, this number still falls behind the Mazda CX-5, which sold 1,407 units.
With the new price advantage and the incentives offered by dealerships, experts believe that the Ford Territory will close the gap with the CX-5 in the near future.
What Makes the Ford Territory Stand Out?
The Ford Territory stands out in its segment for its lower price compared to its competitors (except for the recently launched CX-5) and its advanced technologies. Some notable features of this SUV include a pair of 12-inch screens, push-button start, dual-zone automatic climate control, rotary gear shift knob, wireless charging, electronic parking brake, auto-dimming rearview mirror, and panoramic sunroof.
The Ford Territory also offers many advanced safety features such as emergency brake assist, blind-spot warning, lane departure warning, lane-keeping assist, adaptive cruise control, and automatic headlights. Additionally, the vehicle includes tire pressure monitoring, automatic parking assistance, a 360-degree camera, and six airbags.
The engine for the Territory is produced by Ford’s joint venture in China. It is a 1.5-liter turbocharged engine with 160 horsepower and 248 Nm of torque, paired with a 7-speed automatic transmission and front-wheel drive. These specifications place it between the 2.0-liter CX-5 and the 1.5-liter turbocharged CR-V.
With its attractive price and a range of features, the Ford Territory is a strong contender in the compact SUV market. Its recent price reduction will likely further boost sales and make it a more formidable rival to the Mazda CX-5.