Its five-seat sedan Lux A2.0 and seven-seat SUV Lux SA 2.0, which had already been revealed to the public for the first time at the Paris Motor Show last month, cost VND800 million ($34,305) and VND1.136 billion ($48,709) respectively. The smaller hatchback Fadil, presented for the very first time, costs VND336 million ($14,410). These prices are exclusive of a 10 percent value added tax. The company said it was announcing favorable prices for the "initial phase." The original prices of the hatchback, the sedan and the SUV are VND423 million ($18,140), VND1.336 billion ($57,300) and VND1.818 billion ($78,000) respectively, it said. VinFast's SUV Lux SA2.0 But VinFast did not say for how long the promotional prices will last or how many cars will be produced in the initial phase. VinFast surprised industry insiders by completing its first two units, the SUV and the Sedan, within one year. Its first two models are built on frames from BMW. Their components have been engineered by … [Read more...] about Vietnam’s first car maker presents models, prices
Car makers by country
Quang Nam. Buses have the highest rate of using locally made components and accessories. — VNS Photo Cong Thanh Local car maker Truong Hai Automobile company (Thaco) has increased the proportion of components it sources from local suppliers in order to reduce sale prices and improve competitiveness, as tariffs on cars have fallen to zero throughout the ASEAN region. General director of Thaco Pham Van Tai said Thaco had developed five automobile plants and a supportive industry zone with 15 plants producing spare parts and accessories for local use and export as well as boosting made-in-Viet Nam cars under the ASEAN Trade in Goods Agreement (ATIGA). He said commercial car production had seen using locally made goods for 15 to 20 per cent of its components, while trucks used 30 to 45 per cent of localised accessories and spare parts produced by supportive plants in the Chu Lai-Truong Hai Industrial Complex in Quang Nam Province. Tai said buses have seen as the highest rate of … [Read more...] about Local car maker increases localisation rate
Vietnam’s policy on tightening car import regulations under Decree 116 may be the main reason behind foreign car makers' decision to expand production in Vietnam. The Toyota automotive plant in Vinh Phuc province. Source: toyotavinhphuc.info Most recently, Toyota Vietnam proposed the Vinh Phuc People’s Committee to rent 9.1ha of land in Phuc Yen city to expand its automobile manufacturing plant, raising its annual capacity from the current 50,000 to 90,000 units by 2023. Accordingly, the total capital for this expansion is about $40 million. Toyota’s move is supposed to be the result of Decree No.116/2017/ND-CP, which introduced many strict conditions and regulations about importing cars, which came into effect early this year. Not only Toyota, but Ford and Hyundai are also planning to expand production scale in Vietnam due to the decree. According to the Vietnamese government, Decree 116 aims to boost the development of the country’s automobile … [Read more...] about Decree 116 moves foreign car makers to expand production in Vietnam?
South Korea has delayed a proposed tax on vehicle carbon emissions by over five years to the end of 2020, amid pressure from domestic and U.S. car makers who fear the levy would curb sales. … [Read more...] about South Korea delays smog tax amid pressure from car makers
Chinese electric car producer BYD, which is partly backed by US investment titan Warren Buffett, said its net profit plunged more than 94 percent year-on-year in 2012, hit by slowing growth in the country. The company, based in the southern boomtown of Shenzhen, said in a statement Sunday that net profit came in at 81.38 million yuan (US$12.92 million) last year, down from 1.38 billion yuan in 2011. A subsidiary of Buffett's Berkshire Hathaway owns 9.56 percent of BYD. "Under the impact of slower economic growth, the automobile industry in the PRC (People's Republic of China) remains weak," the statement said. China is the world's biggest auto market, with total sales rising 4.3 percent year-on-year in 2012 to 19.31 million vehicles. But slowing domestic economic growth, limits on car numbers by some cities and a political row between China and Japan that hurt sales of Japanese-brand cars weighed on the market last year. China's economy expanded 7.8 percent in 2012, its … [Read more...] about China car maker BYD reports profit plunge