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Pay packets to drive car ownership growth

Vietnamese people are expected to loosen their purse strings and buy more cars as their incomes rise. The Institute for Industry Policy and Strategy has just submitted the auto industry development planning scheme to 2020 with a vision towards 2030 to the Ministry of Industry and Trade’s appraising council and their document reveals local...

Posted date: Thu, 24 Nov 2011 - From: Automotive News

Toyota Vietnam to recall 320 Camry 3.0 cars to check defect

Toyota Vietnam announced November 21 that it will recall 320 Toyota Camry 3.0 cars, for free checking and replacement of crankshaft pulleys that were found to create problems like noise and have steering defects. The company wants to recall 320 Toyota Camry 3.0 cars produced from July 8, 2004 to April 7, 2005. Toyota said the recall was due...

Posted date: Thu, 24 Nov 2011 - From: Automotive News

Vietnam auto companies to face tough race against imports: official

The Vietnamese auto industry still has a chance to grow, an official says Falling import tariffs on cars will give local automakers a tough time in the next few years, and some may have to quit the business, said Le Duong Quang, deputy minister of trade and industry. “The car market has and will see harsh competition,” Quang said in an...

Posted date: Thu, 24 Nov 2011 - From: Automotive News

Vietnam strives to enlarge the automobile “coverage”

The report made under the framework of the plan to program the development of the automobile industry in Vietnam by 2020 by the Institute for Industrial Strategies and Policies, which has been submitted to the Ministry of Industry and Trade, shows that cars have still been highly appreciated by consumers in terms of convenience, independence and...

Posted date: Thu, 24 Nov 2011 - From: Automotive News

Vietnam prepares to welcome investment wave from Japan

Japanese businesses are flocking to Vietnam to seek investment opportunities in the wave of relocating production bases to other countries to avoid high labor cost and natural calamities. The earthquake in March 2011 in Japan and the current serious floods in Thailand have forced Japanese manufacturers to reconsider their investment strategies....

Posted date: Thu, 24 Nov 2011 - From: Automotive News

Bridgestone to build US$460mln car tyre plant in Haiphong

The Japanese group Bridgestone has unveiled its plan to build a new JPY35.5 billion (US$460 million) plant in the Dinh Vu industrial zone in the port city of Haiphong. The plant is expected to be operational in the first half of 2014 and reach full production capacity of around 24,700 tyres per day in 2016. This is the 50th plant in...

Posted date: Mon, 21 Nov 2011 - From: Automotive News

Auto sales fall 11 per cent in October

The total sales volume of the Vietnam Automobile Manufacturers Association (VAMA) reached more than 9,250 units in October, the association said. “This figure decreased by 11 per cent against the same month last year and dropped 8 per cent on September,” it added. Experts said the drop was a surprise as auto sales often rise at the end...

Posted date: Sun, 20 Nov 2011 - From: Automotive News

HCM City hosts Motor Show 2011

The Vietnam Motor Show 2011 opened at Saigon Exhibition and Convention Centre in Ho Chi Minh City on November 16. At the opening ceremony, Deputy Minister of Industry and Trade Le Duong Quang acknowledged Vietnamese automobile businesses’ contributions to national economic development. He expressed the belief that the businesses will adopt...

Posted date: Sun, 20 Nov 2011 - From: Automotive News

Auto sector runs into brick wall

To sustain tough market conditions when car import tariffs keep falling under Vietnam’s commitments to the world community, car manufacturers must drive down production costs through hiking localisation rates which cannot be achieved without government support. Vietnam Automobile Manufacturers Association (VAMA) chairman Akito Tachibana gives...

Posted date: Sun, 20 Nov 2011 - From: Automotive News

The most advanced Mercedes-Benz showcases at auto show

In a grand-style booth, Mercedes-Benz is celebrating numerous Vietnam premieres at the Vietnam Motor Show at the Saigon Exhibition and Convention Center (SECC) in District 7, HCMC, which is taking place from November 16 to 20. From hi-tech booth with “Augmented Reality” Mercedes-Benz Vietnam has set up a new high level in booth design at...

Posted date: Sun, 20 Nov 2011 - From: Automotive News

Automakers compete in small-car segment

Automakers in the country are competing harshly with each other on the small-car market as this segment is contributing a large portion to their sales volumes given the rising trend in compact vehicle consumption in big cities. Ford Vietnam, for instance, has sold nearly 1,300 units of the global small car line Fiesta debuting this May on the...

Posted date: Fri, 11 Nov 2011 - From: Automotive News

Local car sector in slow lane

It is hard for local car industry to attract more foreign investment even when Asia’s major car manufacturing base Thailand is hardly hit by ongoing drastic floods. On October 31, 2011 Honda Japan plans to curtail half of automobile production in the US and Canada, while halting production at its Philippines-based plant in the aftermath of...

Posted date: Thu, 10 Nov 2011 - From: Automotive News

Mercedes-Benz reports 3 per cent sales rise in October

German carmaker Daimler said on Friday its Mercedes-Benz unit saw worldwide sales rise in October, powered by strong demand in the United States and China. Daimler said in a statement it sold a total 111,683 of its Mercedes-Benz and Smart cars worldwide last month, an increase of 3.1 per cent year-on-year. Mercedes’ US sales rose by 23 per...

Posted date: Tue, 08 Nov 2011 - From: Automotive News

Vietnam imports 48,000 cars so far this year

The General Statistics Office has estimated that Vietnam imported about 48,000 autos in the first 10 months of this year worth US$895 million. These figures represented a 15.1 per cent increase in volume and 16.5 per cent increase in value in comparison with the same period last year, the office said. October estimates show that 3,000 autos...

Posted date: Wed, 02 Nov 2011 - From: Automotive News

Auto import estimated to be 3,000 units in Oct

HA NOI – The General Statistics Office has estimated that Viet Nam imported about 3,000 autos in October worth a total US$46 million. If this figure was correct, the country imported significantly fewer vehicles this month than in September, the office said. Car dealers affirmed that the decline in import value was difficult, particularly...

Posted date: Fri, 28 Oct 2011 - From: Automotive News