Latest News about automobile
The Ministry of Finance has just responded to the petition of the Vietnam Automobile Manufacturers Association (VAMA) on additional support policies for businesses facing difficulties caused by the Covid-19 pandemic.
Automobile companies are accelerating fast to reach their annual targets after facing difficulties in the first half of the year.
The outbreak of the coronavirus has had negative effects on global supply chains in the world’s automobile industry.
Prime Minister Nguyen Xuan Phuc has just signed Decree 70 allowing the cut of 50% of the registration fee for customers who buy locally-produced and assembled automobiles, effective June 28.
The sales of automobile surged 62 percent month-on-month in May following the end of social distancing measures, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
Vietnam imported up to 140,000 cars in 2019 worth a total USD3.16 billion, up 84% on-year, with the majority from Indonesia and Thailand.
Foreign investment in six priority industries under the industrialization strategy accounted for 27% of total registered capital in Vietnam from 2013 to March 2019, focusing on electronics, automobiles and energy saving.
The positive results posted by Vietnamese manufacturers in support industries over the last 20 years have come mostly on the back of the development of the local motorcycle industry.
The move is aimed to help develop the automotive supporting industries, particularly as Vietnam still has to import massive basic materials for domestic car production.
Car dealers at many firms in Vietnam are complaining about slow sales as it approaches the end of 2019.
Vietnam Supporting Industries Forum 2019 held on November 28 in Hanoi.