The high production costs, taxes and fees all make automobile prices in Vietnam much higher than in other countries in the region.
At the government's November regular press conference, the local press raised questions about the tax and fee policies, saying that automobile manufacturers complain about current policies put difficulties for them to compete with imports and increase the localization ratio.
|Deputy Minister of Industry and Trade Do Thang Hai said the car prices in Vietnam are higher than inother countries because the domestic production cost is higher. The high taxes and fees also push the prices up.|
VinFast, a 100 percent Vietnamese owned automobile manufacturer, days ago announced the automobile price structure. A VinFast Lux A2.0 standard version has the cost price of VND980.6 million, including VND640 million worth of materials, VND59.2 million worth of shipping fee and import tax, VND54 million worth of manufacturing cost, VND5.9 million worth of warranty cost, and VND24.6 million worth of production management cost. The remaining is the storage fee, domestic transportation fee, and sale and business management cost.
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