Vietnam imported 11,150 cars in August, representing a record-high figure so far this year, according to the General Department of Customs. During the week of August 24-30 alone, Vietnam imported around 3,089 cars valued at USD59.27 million. Of the figure, cars from Thailand and Indonesia dominated. Vietnam imported 11,150 cars in August, representing a record-high figure so far this year Cars below nine seats accounted for 2,129 units, making up 69% of the country’s total imported cars in the week. Different truck models were second at 900 units. Meanwhile, during the week, only 31 vehicles of more than nine seats were imported into Vietnam. Although more cars from ASEAN countries have been imported into Vietnam after the import tax for cars imported from ASEAN was slashed to 0% from January 1, 2018, cars which have been used for 1-2 years have still sold well. Unlike luxury cars which have been used for many years, prices of second hand cars have fallen from between … [Read more...] about Car imports sharply increase
Used cars philippines
Philippines destroys dozens of luxury cars in anti-corruption campaign
According to the Philippines’ President Office, the vehicles, which were ruined on July 30 at Irene port of Santa Ana city, the northern province of Cagayan, included 68 cars with famous brands such as Lamborghinis, Mustangs, Porsches, and eight motorcycles. They were part of 800 vehicles illegally imported and seized by the country’s customs. Speaking before the event, President Duterte admitted that he cannot uproot corruption and smuggling within his office term, but the destruction of the vehicles is important in his plan to erase corruption that he vowed during his election campaign in 2016. In February this year, President Duterte also ordered the destruction of 30 sport cars and some other high-end cars, including Jaguars, BMV, Corvette Stingray, with total value of 850,000 EUR (about 990,000 USD) in Manila. This was a new feature of the President’s fight against corruption and smuggling compared to that of the previous presidents when smuggled … [Read more...] about Philippines destroys dozens of luxury cars in anti-corruption campaign
Zero tariffs fail to translate into cheaper cars
Last month, Toyota Viet Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect. — Photo kienthuc.vn Last month, Toyota Viet Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect. The imports include Fortuner, Hilux and Hiace. The lowest price for a Fortuner SUV is VND1.026 billion (US$44,609), VND45 million ($1,957) higher than the rate in late 2017. Three versions of the Hilux cost VND695 million, VND793 million, and VND878 million. Earlier, more than 2,000 Honda cars were imported from Thailand, the first batch to be subject to 0 per cent duty under the ASEAN Free Trade Agreement (AFTA) that took effect this year. The Jazz, Accord, CR-V and Civic models also saw prices higher than expected. From July 1, the … [Read more...] about Zero tariffs fail to translate into cheaper cars
For Vietnamese, zero tariff fails to translate into cheaper cars
Last month, Toyota Việt Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect. — Photo kienthuc.vn Compiled by Thiên Lý Last month, Toyota Việt Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect. The imports include Fortuner, Hilux and Hiace. The lowest price for a Fortuner SUV is VNĐ1.026 billion (US$44,609), VNĐ45 million ($1,957) higher than the rate in late 2017. Three versions of the Hilux cost VNĐ695 million, VNĐ793 million, and VNĐ878 million. Earlier, more than 2,000 Honda cars were imported from Thailand, the first batch to be subject to 0 per cent duty under the ASEAN Free Trade Agreement (AFTA) that took effect this year. The Jazz, Accord, … [Read more...] about For Vietnamese, zero tariff fails to translate into cheaper cars
Made in Vietnam cars geared for East European roads
VinFast, the auto making subsidiary of real estate conglomerate Vingroup, will make cars suited to the domestic market first and target East Europe next. Long lines of cars on Hanoi roads during rush hour are the new norm in the capital as more people ditch motorbikes for the four wheeler - Photo by VnExpress Built in automated facility that deploys more than a thousand robots, the cars will be of top quality, priced competitively and backed with attractive offers and good after sales service, group chairman Pham Nhat Vuong said at a recent shareholders meeting. Therefore, despite the presence of a number of big players in the domestic market, there was a good chance for cars produced by VinFast to succeed, he said. He noted that Hyundai, the South Korean carmaker, was able to gain 10 percent of the US market share in a very short period, and VinFast was well placed to emulate such a feat. Vuong stressed that the VinFast production line has a high degree of automation. … [Read more...] about Made in Vietnam cars geared for East European roads