Trailers are manufactured at Truong Hai Automobile Company in Quảng Nam Province. VNS Photo Công Thành HCM CITY — Trường Hải Auto Corporation (Thaco) is set to become Thaco Group, a holding company with stakes in five member companies operating in a wide range of sectors, after shareholders approved the proposal at its annual general meeting held recently in HCM City. One corporation is in machinery and automobile production, two in agriculture and forestry, transport infrastructure, industrial parks and urban areas and two others in commerce and logistics. Thaco chairman Trần Bá Dương said the automobile corporation would manufacture a range of vehicles including passenger cars, buses, trucks, and specialised vehicles in a range of price segments and have a presence in the entire value chain from research and development and manufacturing to distribution and retail. In the mechanical … [Read more...] about Thaco to become holding company, diversify into various sectors
Exporting new cars to china
Despite dropping revenue in China, Honda remains strong in Vietnam
Despite a huge reduction in revenue in China due to engine errors affecting CR-V and Civic vehicles, Honda is still doing well in Vietnam based on its market shares in the motorbike and car segments, with a new record in car sales. Frustrating lack of control over price Honda occupies the share equaling the cumulative of its four competitor Photo: baomoi.com In the 2018 fiscal year (April 1, 2017-March 31, 2018), the total number of motorbikes sold by the five foreign-invested firms (Honda Vietnam, Yamaha Vietnam, Suzuki Vietnam, Piaggio Vietnam and SYM) reached 3.28 million, including 2.38 million by Honda Vietnam, equaling 72.5 per cent of the total and exceeding the 69.3 per cent in the 2017 fiscal year. However, despite taking up 70 per cent of the motorbike market, Honda Vietnam has to admit that its Honda Ending Authorised Dealers (HEAD) have been selling its motorbikes above the price set by Honda Vietnam for many years, an issue which is difficult to resolve. A … [Read more...] about Despite dropping revenue in China, Honda remains strong in Vietnam
China to cut auto tariffs on Jul 1 as trade tensions ease
BEIJING: China announced on Tuesday (May 22) that it would cut tariffs on auto imports from Jul 1, the latest sign of a thaw in trade frictions with the United States. The tariffs cut comes after China earlier this year also announced plans to liberalise foreign ownership limits in the auto sector. (Photo: AFP/STR) Beijing has announced a flurry of liberalisations and reforms since coming under fire from the Trump administration and some European politicians for its protectionist policies. The planned reduction in import duties from 25 per cent to 15 per cent is a boon for international carmakers keen to grow sales in the world's largest auto market but may fall short of fulfilling US President Donald Trump's expectations that Beijing match US tariffs of 2.5 per cent. Demands reportedly put to Beijing by Washington at the start of trade talks called on China to lower all tariffs to at least match those of the US. Trump has been following the issue closely and on Monday … [Read more...] about China to cut auto tariffs on Jul 1 as trade tensions ease
Trump proposes $100 billion more in new tariffs on China
By Reuters  April 6, 2018 | 08:18 am GMT+7 Members of border security forces stand in front of a docking cargo ship at Qingdao port in Shandong province, China March 8, 2018. Photo by China Daily via Reuters The tariffs have stirred fears that the two countries will spiral into a trade war that will crush global growth. President Donald Trump said on Thursday he had instructed U.S. trade officials to consider $100 billion in additional tariffs on China, fueling an already heated trade dispute between the world’s two biggest economies. Trump said in a statement the further tariffs were being considered “in light of China’s unfair retaliation” against earlier U.S. trade actions that included $50 billion of tariffs on Chinese goods. He added that the U.S. Trade Representative had determined that China “has repeatedly engaged in practices to unfairly obtain America’s intellectual property.” U.S. stock index futures … [Read more...] about Trump proposes $100 billion more in new tariffs on China
‘Not in a trade war with China’ says Trump
President Donald Trump on Wednesday (Apr 4) said the United States is not in a trade war with China, as both sides shake global markets with tit-for-tat actions. US President Donald Trump. (Photo: AFP/Olivier Douliery) "We are not in a trade war with China, that war was lost many years ago by the foolish, or incompetent, people who represented the U.S.," Trump said in a morning tweet. "Now we have a Trade Deficit of $500 Billion a year, with Intellectual Property Theft of another $300 Billion. We cannot let this continue!" The comments come after China unveiled plans to slap major US exports worth US$50 billion - including soybeans, cars and small airplanes - with retaliatory tariffs. The Chinese action was, in turn, in response to the Trump administration's own US$50-billion list of Chinese products that face US tariffs over Beijing's alleged theft of intellectual property and technology. The last month has seen the mercurial Republican leader rattle markets in announcing … [Read more...] about ‘Not in a trade war with China’ says Trump