VietNamNet Bridge - Toyota Vietnam may stop producing cars in Vietnam and instead import cars into the country to benefit from the tax cut roadmap from ASEAN, said Director General of Toyota Vietnam Joint Venture (TMV) Yoshihisa Maruta at TMV’s recent meeting on the business plan for 2015. He said on average it takes three years to launch a new car model while the tax rate on cars imported from ASEAN will fall to zero percent in 2018. Maruta said that if the Vietnamese government does not have a specific support policy, based on the overall strategic development of the auto industry in 2020 with a vision to 2030 that was published this year, car manufacturers will move to import finished cars instead of importing parts for assembly. In March 2015, Toyota Vietnam dropped to second position for auto sales after Thaco with only about 2,680 units sold , holding 29% market share. Na Son … [Read more...] about Toyota considers stopping car manufacturing in VN
The two Department of Industry of Dong Nai province and Ho Chi Minh City met with car manufacturers and car assembling enterprises in the two localities for the first time on March 19th in an effort to promote car industry in the area. Car industry in Vietnam in general is still in its primary stage of development. Thousands of small parts are needed for the assembly for a complete car. For that reason, a synchronized development of various area of mechanics, metallurgy, electricity, electronic and chemistry is required before the take off of the car industry. … [Read more...] about Department of Industry of Dong Nai province and Ho Chi Minh City discussed with car manufacturers and car assembling enterprises about plans to promote car industry.
The initiative is the result of an agreement between the governments of the two countries under which Belarus will assist Vietnam in the manufacturing of motor vehicles. The protocol was signed by Vietnamese Minister of Industry and Trade Vu Huy Hoang and Belarusian Minister of Industry Vitali Mikhailovich Vovk, the Department of European Markets announced on March 24. The Belarussian side pledged that automobiles manufactured by the joint ventures will have domestic content rates of 40% in 2020 and 60% in 2026. Their licences will be provoked if they fail to meet these set targets. Aside from the Vietnamese market, the joint ventures will also make vehicles for export available to a third country, with countries in Southeast Asia as the first preference. In order to achieve these targets, Vietnam will allow the joint ventures to import a number of completely assembled cars free of duties in order to further explore the market. Vietnam will also grant duty-free import of … [Read more...] about Vietnam and Belarus to set up car manufacturing joint ventures
VietNamNet Bridge - Luxury manufacturers have reported fully satisfactory business results in Vietnam for 2015. Vietnamese, who have an annual income per capita of nearly $2,000, are willing to spend billions of dong to buy luxury products. Xe Hoi The Thao Uy Tin, the importer and official distributor of Porsche products in Vietnam, reported 235 products were sold in 2015, nearly double that in 2014. With the high selling prices of VND3-10 billion, the sales are described as ‘beyond the manufacturer’s expectations’. The growth rate of nearly 100 percent Porsche gained in Vietnam was more impressive than any other market: it sold 5,583 cars in Asia Pacific in 2015, but this represented a only a 15 percent growth rate in comparison with 2014. Luxury manufacturers have reported fully satisfactory business results in Vietnam for 2015. Vietnamese, who have an annual income per capita of nearly $2,000, are willing to spend billions of dong to buy luxury products. … [Read more...] about Luxury car manufacturers earn big money in Vietnam
VietNamNet Bridge – The majority of car manufacturers have decided to label their products with yellow tags instead of green ones, according to the Vietnam Register (VR). Manufacturers and importers have begun the energy labeling for vehicles with less than 7 seaters, as requested by new regulation. The new regulation stipulates that from January 1, 2015, brand-new domestically assembled and imported cars must be labelled with energy labels before selling to consumers. Two kinds of energy labels – green and yellow – are used to show the fuel consumption level of the cars. The green one shows the fuel consumption index certified by Vietnamese watchdog agencies that test the vehicles. The fuel consumption testing is performed independently or simultaneously with the technical safety and environmental-protection certification. The yellow label shows the energy consumption index, provided by car manufacturers and importers, without certification by watchdog … [Read more...] about Energy labeling: car manufacturers “prefer” yellow labels