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Imported bikes in the slow lane

Imported motorbikes are in the slow lane compared to domestically manufactured ones. Vietnam Customs reported that 1,614 completely-built motorbikes worth $2 million were imported into Vietnam last month, a 66 per cent drop in quantity and a 73 per cent fall in value. In 2012′s first four months, Vietnam imported 14,227 completely-built...

Posted date: Mon, 25 Jun 2012 - From: Automotive News

Thaco starts work on engine plant

Truong Hai Auto Joint Stock Co. (Thaco) will on Friday begin construction of the Chu Lai-Truong Hai engine plant in Chu Lai Open Economic Zone, Quang Nam Province, with the technology transferred from South Korea’s Hyundai Motor. The 11-hectare plant worth around US$200 million is one of the biggest projects in Tam Hiep Industrial Park in Chu...

Posted date: Mon, 25 Jun 2012 - From: Automotive News

Auto expo opens in slow market

HA NOI — A total of 118 domestic and overseas businesses are showcasing their products at the country's ninth Automobile and Supporting Industries Exhibition, "Viet Nam AutoExpo 2012", which opened in Ha Noi yesterday. On display at the 10,000sq.m site during the four-day exhibition are trucks, buses, luxury cars and vehicles used in the...

Posted date: Fri, 22 Jun 2012 - From: Automotive News

Interest rate reductions give auto manufacturers a lifebuoy

The bank loan interest rate reductions have made automobile manufacturers, who have been in distress because of slow sales, become as happy as a sandboy. In a letter sent to the press some days ago, the Vietnam Automobile Manufacturers’ Association VAMA acclaimed the new decision by the State Bank of Vietnam to slash the ceiling deposit...

Posted date: Fri, 22 Jun 2012 - From: Automotive News

Porsche pins hopes on northern market

Porsche is pinning high hopes on the Hanoi market as a major contribution to its sales growth in Vietnam this year after its launch of the second customer services center there, said an executive of the company. In 2011, Porsche sold over 100,000 units globally, with nearly 100 units bought by Vietnamese buyers, posting 100% growth from the...

Posted date: Wed, 20 Jun 2012 - From: Automotive News

VAMA wants car registration fees cut to 10% over poor sales

A drastic auto sales decline has led the Vietnam Automobile Manufacturers Association (VAMA) to request HCMC and Hanoi authorities to slash car registration fees to 10% from the respective 15% and 20% to prop up lackluster demand. The two cities are the nation’s biggest auto markets. According to VAMA, the fact that car registration fees were...

Posted date: Wed, 20 Jun 2012 - From: Automotive News

Vietnam car sales set to tumble in 2012: moit

Vietnam car sales is estimated to be 81,000 cars by the end of 2012 versus 138,000 ones sold in 2011, the Vietnam News Agency reported citing the Ministry of Industry and Trade (MoIT) data. The figure will send the country’s total car sales in 2012 to 2007’s level, the Ministry of Industry and Trade (MoIT) said, citing lower demand on...

Posted date: Wed, 20 Jun 2012 - From: Automotive News

Ford showrooms extend opening hours Friday to spur sales

Ford Vietnam has announced it will hold a midnight sales event this Friday to promote sales to customers nationwide. The event will be opened from 8 a.m. on June 22 to 12 a.m. the next day in the Golden Chance Promotion at all Ford dealers. Vietnamese customers will have the opportunity to take home valuable gifts, including iPad 2 16Gb,...

Posted date: Wed, 20 Jun 2012 - From: Automotive News

Transport fees freezing local automobile market: VAMA

Transport fee used to limit personal vehicles have frozen the local automobile market, said Vietnam Automobile Manufacturers’ Association (VAMA) in a recent document sent to Hanoi authorities. “Vietnam’s automotive industry has faced the most dramatic decline in sales ever with total sales dropping 40 per cent year on year in the first...

Posted date: Mon, 18 Jun 2012 - From: Automotive News

Auto sales decline by 40% in first five months of this year

Members of the Viet Nam Automobile Manufacturers’ Association sold 6,870 cars in May, down 2 per cent against total sales in April and slumping 32 per cent from the same month last year. The sale of cars in the first five months decreased 40 per cent against the same period last year. The association expected total car sales would hit 100,000...

Posted date: Thu, 14 Jun 2012 - From: Automotive News

Toyota launches Toyota 86

Toyota Motor Vietnam (TMV) has introduced the all-new sport car Toyota 86. It is an entirely driver-centric machine, designed to deliver the core qualities of a classic sports car experience, instantaneous throttle response, excellent steering precision, unrivalled handling and superb aerodynamic performance. The all-new Toyota 86 is...

Posted date: Thu, 14 Jun 2012 - From: Automotive News

2-door cars flowing into Vietnam, targeting rich buyers

It could be a surprise to many people that automobile manufacturers have imported 2-door cars recently for domestic sales, despite the domestic gloomy market. The car models recently appearing in Vietnam are not sedans, MPVs or SUVs, but the 2-door sports cars, reserved only for playboys and high income earners. Mazda MX-5, Nissan 370Z,...

Posted date: Wed, 13 Jun 2012 - From: Automotive News

Car sales down despite promotions

The local automobile industry continued to see a sharp decline in sales last month, even though automakers tried to lure buyers with many promotional and customer care programs. Last month, Mercedes-Benz Vietnam offered a huge discount program, with some luxury cars marked down by over VND1 billion a unit. However, the German automaker failed...

Posted date: Fri, 08 Jun 2012 - From: Automotive News

Porsche Vietnam heads for northern market

Porsche Vietnam has put into operation Porsche Service Center Hanoi at 562 Nguyen Van Cu, Long Bien District, its second in the country after the one in HCMC. According to Porsche Vietnam, the launching of the new center will help it meet the increasing demand of customers for luxury cars in the capital city and neighboring areas, marking a new...

Posted date: Tue, 29 May 2012 - From: Automotive News

VAMA proposes lower registration fee amid slow sales

The Vietnam Automobile Manufacturers’ Association (VAMA) has proposed a 5 per cent automobile registration fee applied nationwide. The proposal came out in the face of rising numbers of unsold stocks of local automobile assemblers amid the 20 per cent and 15 per cent registration fees recently applied in Hanoi and Ho Chi Minh...

Posted date: Mon, 28 May 2012 - From: Automotive News