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Vama bemoans poor sales

The Vietnam Automobile Manufacturers Association (Vama) on Thursday called a live web news conference in both Hanoi and HCMC to decry the poor sales automakers are facing in the country. Vama chairman Laurent Charpentier said producers and assemblers were struggling with increasingly big backlogs of automobiles given worryingly poor...

Posted date: Wed, 23 May 2012 - From: Automotive News

Toyota turns corner to production

Many car-makers in Vietnam are turned off by the market downturn and government’s inconsistent policies, but Toyota Motor Vietnam’s new president Yoshihisa Maruta told VIR’s Mai Linh that his company would continue prioritising production, but not distribution. You have become president of Toyota Motor Vietnam amid Vietnam’s automotive...

Posted date: Wed, 23 May 2012 - From: Automotive News

Rolls-Royce to drive luxury market

Rolls-Royce is looking for dealers to drive the distribution of its luxurious Phantom and Ghost models in Vietnam. Herfried Hasenoehrl, the general manager of Rolls-Royce in emerging markets of Asia, visited Vietnam last week to find local dealers in Hanoi and Ho Chi Minh City and said the growth of luxurious car sales, in line with the rapid...

Posted date: Wed, 23 May 2012 - From: Automotive News

Gloomy future for spearhead industry

Auto traders said the industry could not prosper when taxes and fees stay high, whereas Vietnam has determined the automotive industry as one of the spearhead industries to develop until 2020. Given the high inventories of local automakers, Laurent Charpentier, chairman of the Vietnam Auto Manufacturers Association (VAMA), raised his voice:...

Posted date: Wed, 23 May 2012 - From: Automotive News

Fearful of bankruptcy, auto manufacturers insist on tax, fee reductions

The car sales dropped dramatically in the first four months of the year, which, according to the Vietnam Automobile Manufacturers’ Association VAMA, should not be blamed on the economic downturn, but on the unreasonable policies. High taxes, fees force sales down VAMA has reported that the number of cars sold by its 18 members in...

Posted date: Tue, 22 May 2012 - From: Automotive News

Auto sales plunge in April

HA NOI — Total car sales dropped sharply last month, beating industry expectations about imminent market recovery following satisfactory results in March. April sales reached nearly 7,000 units, declining 24 per cent over March and 46 per cent over the same period last year, reported the Viet Nam Automobile Manufacturers' Association...

Posted date: Sat, 19 May 2012 - From: Automotive News

Auto sales declined

HA NOI – Car sales have fallen to an alarming level so far this year, says the Viet Nam Automobile Manufacturers' Association. In the first quarter, association members sold 24,100 cars, a drop of 36 per cent compared with the same period last year. Multi-purpose vehicles slid 48 per cent and commercial cars fell 29 per cent. At the...

Posted date: Thu, 17 May 2012 - From: Automotive News

1,200 diplomatic cars to pay tax arrears

The Ministry of Finance said it has completed collecting feedback from relevant ministries and agencies on its proposal to collect taxes in arrears from cars bearing diplomatic plates owned by non-diplomats in the country. Under the proposal, which will be submitted to the government for final approval, the ministry rules that a tax of 5 – 90...

Posted date: Fri, 11 May 2012 - From: Automotive News

State budget loses VND4.36 tril. on car import drop

A 51% decline in import value of completely built-up (CBU) cars has brought a total revenue loss of VND4.36 trillion to the State budget in the first four months of the year, said a report announced by the Ministry of Finance. According to the report on the State budget revenue and spending in April and the first four months of 2012, the...

Posted date: Thu, 10 May 2012 - From: Automotive News

Toyota’s fiscal-year net profit plunges 30.5 pct

Japanese automaker Toyota’s group net profit contracted 30.5 percent to hit 283.5 billion yen (about 3. 56 billion U.S. dollars) in the fiscal year ending in March, the company said Wednesday. Vehicle sales totaled 2,071,000 units in Japan, an increase of 158,000 units compared to the same period last fiscal year, while the figure for North...

Posted date: Thu, 10 May 2012 - From: Automotive News

Expensive cars dislodged from Vietnam, low-cost cars flood the market

The Vietnamese automobile market, which once cooled down after the news about the tax and fee increases, has warmed up again with the appearance of small size cars, brand new and very cheap. Since early May 2012, the images of Zotye Z100, the Chinese latest small car model, which is forecast to be the redoubtable rival of the current cheapest...

Posted date: Wed, 09 May 2012 - From: Automotive News

Motorbike, car imports decrease in April

Vietnam imported 1,000 Complete Built Unit (CBU) motorbikes worth US$2 million in April, according to the General Statistics Office (GSO). The figure showed a sharp decrease in volume and value, by 80 percent and 75 percent respectively compared to March. The GSO estimated Vietnam’s total import value of automobiles in April at US$172...

Posted date: Thu, 03 May 2012 - From: Automotive News

Auto sales down, auto production suspended

Consumers have never before witnessed so many automobile sales promotion campaigns like these days. Sharp price reductions of 30-100 million dong have been offered to car buyers. Sharp price falls cannot stimulate demand In early April 2012, Honda Vietnam announced the decision to “give presents” of 40-55 million dong to the clients...

Posted date: Wed, 02 May 2012 - From: Automotive News

Mercedes-Benz on the market expansion path

Despite the persistent woes faced by the domestic economy and the sluggish auto market, Mercedes-Benz Vietnam and its partners remain keen on their long-term commitment to open more dealers and at the same time launch new luxury car models to meet demand of those who want to own premium cars. Expanding dealer network In line with the biggest...

Posted date: Fri, 27 Apr 2012 - From: Automotive News

Suzuki starts building new auto factory

Vietnam Suzuki Corporation began work on Wednesday on a new automobile plant in the southern province of Dong Nai with an investment of US$13 million. The new project in Long Binh Industrial Park, Bien Hoa City has sent Japan’s Suzuki Motor Corporation’s total investment capital in the country rising to US$57.9 million. With the new...

Posted date: Fri, 27 Apr 2012 - From: Automotive News