Latest News about automobile industry
CBU (complete built unit) imports from Thailand account for more than 50 percent of total car imports and turnover in the first eight months of the year, according to the General Department of Customs (GDC).
Instead of distributing Nissan products, Tan Chong Motor will assemble, import and distribute Chinese cars in the Vietnamese market.
Under the EVFTA, Vietnam will open its market to imports from EU with the preferential tariff of zero percent.
Asked about the import tariff on luxury cars from Europe after the EVFTA takes effect, the Ministry of Industry and Trade (MOIT) said the competitiveness of EU sourced cars would improve.
There are two clear investment tendencies in the automobile industry. First, becoming the leading assembling center in Southeast Asia, and second, buying technologies and making automobiles for export.
Twenty years ago, five large automobile manufacturers asked Vietnam to open the automobile market. But the proposal was refused.