Latest News about automobile industry
The import tariff on European car imports will be decreasing gradually by 7 percent per annum. It will take at least five years to see considerable price decreases.
The outbreak of the coronavirus has had negative effects on global supply chains in the world’s automobile industry.
Instead of reducing taxes and fees, the State needs to set reasonable policies to develop automobile supporting industries, experts say.
The Ministry of Finance has officially asked the Government to cut 50 percent of the registration fee for customers who buy locally-produced and assembled automobiles.
Vietnamese manufacturers are taking steps to become the ‘new Detroit of Asia’.
While automobile manufacturers in the world have laid off workers in large quantities to reduce operation costs during the Covid-19 crisis, automobile joint ventures in Vietnam have retained their workforce.
Car sales dropped sharply by 40 percent in Q1 2020 as several industries cannot reach agreement on solutions to develop the automobile industry.
As predicted by experts, the Vietnamese automobile market continues sliding as manufacturers cannot sell products and their production has arrived at a ‘new normal’.
The decision, set to valid until the end of 2020, would help customers save thousands of dollars.
Chinese cars will flood the Vietnamese market, both CBU and domestically assembled products, soon after the epidemic ends.
The inventory index of the automobile industry is 122.5 percent in Q1 compared to the same period last year, though the output has decreased by 10.4 percent.
The luxurious car market is expected to develop strongly this year, despite the automobile industry facing challenges due to the COVID-19 pandemic,...
If the government agrees to slash taxes and fees for domestically assembled cars, this will be a ‘doping dose’ for domestic automobile manufacturers and consumers.
Car sales have dropped to a 5-year low and may continue to slide if the pandemic persists.
Vietnamese automobile manufacturers are cherishing the dream of entering the world market.
The number of garment orders for the next two months has decreased by 70 percent, while wooden furniture enterprises have cut capacity by 70 percent for next week. Automobile manufacturers have closed factories.
Despite sharp price cuts of hundreds of million of dong, cars still cannot find buyers. The automobile market is predicted to see a minus 15 percent growth rate this year.
Toyota Motor Vietnam (TMV) suspended vehicle production on March 30.