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Automobile industry braced for integration

The impacts of Vietnam’s integration with regional and world economies may vary for the automobile industry. According to Pham Anh Tuan, a expert from Vietnam Automobile Manufacturers Association’s Secretariat, local manufacturers still have advantages, if the import duty of completely-built-unit (CBU) cars is above 60 per cent. If the tax...

Posted date: Tue, 25 Oct 2011 - From: Automotive News

Vina-Mazda automobile factory opens

The Vina-Mazda Company officially opened its factory for manufacturing and assembling Mazda cars on October 21 at the Chu Lai Open Economic Zone in Quang Ngai province. It also launched its newly assembled Mazda 2CKD automobiles, which have won more than 50 international awards. The Vina-Mazda factory, which has been under construction for...

Posted date: Sun, 23 Oct 2011 - From: Automotive News

Tax reductions may lead to car price decreases

The Ministry of Finance (MOF) is consulting with relevant ministries and branches and enterprises about the draft new tax policies on car and car part imports, under which the import tariffs would see sharp decreases from the current levels. If everything goes smoothly as planned, the new tax rates will become effective as of January 1,...

Posted date: Wed, 19 Oct 2011 - From: Automotive News

Ford Vietnam continues to hit top gear

“But the opportunities are huge here because the industry is forecasted to grow three folds of its current size within the next five to six years” Vietnam’s automobile sales in September were reported to rise 10 per cent year-on-year with stronger predictions that the market will continue a pick-up in the final months of the year. In this...

Posted date: Tue, 18 Oct 2011 - From: Automotive News

New Chevrolet Spark launched in Vietnam

GM Vietnam today launched the new Chevrolet Spark and the all-new global mini-car will go on sale from October 14. “We are offering in Vietnam the same high-quality products that we offer in other places such as the US and Europe to satisfy our customers in one of the most high-potential markets,” said Mike Arcamone, President and CEO of GM...

Posted date: Sat, 15 Oct 2011 - From: Automotive News

Sedan sales on the rise

Sales of sedans by members of the Vietnam Automobile Manufacturers Association (VAMA) continued to go up in September following the strong rise in two previous months. VAMA’s members sold over 10,030 vehicles of all types in September, a year-on-year rise of 10%, in which sedans accounted for 4,145 units, up 51%, according to the...

Posted date: Tue, 11 Oct 2011 - From: Automotive News

Smooth driving for car-makers

Foreign-backed auto manufacturers with due tax arrears bills have been given the kiss of life. On October 4, 2011 the Ministry of Finance (MoF) sent a document to local customs departments showing ways to tackle troubles relative to imported auto components’ tax arrear collections, which have affected Vietnam-based auto joint ventures such as...

Posted date: Fri, 07 Oct 2011 - From: Automotive News

MOF doesn’t agree to offer tax incentives to auto industry

In its official reply to the Ministry of Industry and Trade’s (MOIT) drafted automobile industry development program by 2020, the Ministry of Finance (MOF) states that there will be no tax incentives to the strategic car line. The “encouraged” or “important” industry? MOF believes that it would be better to consider automobiles as...

Posted date: Mon, 03 Oct 2011 - From: Automotive News

Vietnamese businesses run a race for the right to distribute super-cars

The result of the race for the right to distribute Toyota’s Lexus brand cars proves to be the most awaiting now in Vietnam. Though the door is opened widely to all Toyota Vietnam’s existing agents, it is not easy to catch the eye of the brand’s owner. According to a car dealer, in order to become an official distributor for famous brands,...

Posted date: Fri, 30 Sep 2011 - From: Automotive News

Research and markets: Vietnam’s automotive update out now

Research and markets: Vietnam’s automotive update out now Research and Markets (http://www.researchandmarkets.com/research/ca344c/vietnams_automoti) has announced the addition of the “Vietnam’s Automotive Update” report to their offering. In Q1 2011, Vietnam experienced increasing imports of complete built units (CBUs) as well as...

Posted date: Mon, 26 Sep 2011 - From: Automotive News

Toyota Vietnam responds to whistle-blower proceedings

In an interview with DTiNews, Akito Tachibana, General Director of Toyota Vietnam, shares his perspective on legal proceedings against the company. Tach exposed some of Toyota Vietnam’s technical flaws, in the Innova model, to the media, which led to recall of nearly 9,000 vehicles. Toyota Vietnam subsequently decided to suspend Tach for...

Posted date: Mon, 26 Sep 2011 - From: Automotive News

Increase in small cars, MPVs sales in August

The Vietnam Automobile Manufacturers’ Association (VAMA) reported a year-on-year rise of 10 percent in automobile sales with over 9,500 cars sold by VAMA’s members in August, mostly in small and multi-purpose vehicles. There was a drop of 24 percent in commercial vehicles compared to the same period last year, with 3,164 cars sold in August....

Posted date: Wed, 21 Sep 2011 - From: Automotive News

Taxes dampen used car imports in Vietnam

Used-car imports plummeted up to 70 per cent in August due to taxes being increased to $3,000-$17,000 per vehicle, depending on the size. Only 199 secondhand cars were imported in the period, a fall of more than 70 per cent over the same month last year. Of the total figure, around 170 units were low-end vehicles, selling at $3,600 –...

Posted date: Wed, 21 Sep 2011 - From: Automotive News

Engineering a breakthrough

An engineer at Toyota Motor Vietnam Company is refusing to back down in his fight against the company he feels has besmirched him. Le Van Tach, who in May stepped forward to expose technical flaws in all Toyota Motor Vietnam (TMV) models, told VIR he had evidence showing TMV had tried to “cheat” customers and make his life...

Posted date: Mon, 19 Sep 2011 - From: Automotive News

Auto tax debate continues, business suffer

Customs agencies deliberately put difficulties in enterprises’ way The Hanoi branch of the Tay Bac Automobile Company has lodged a complaint to the General Department of Customs, saying that its import consignment still has not got customs clearance due to the difficulties raised by the customs agencies. Tay Bac signed a contract with...

Posted date: Sat, 17 Sep 2011 - From: Automotive News