Import car prices remain unstable

Predictions about import car prices change regularly. At first, analysts predicted that the prices would soar to satisfy the requirements. In the second half of 2018, enterprises had overcome difficulties and many imports were expected to arrive. However, the prices remained unpredictable.

In late 2017, the first consignment of Honda CR-Vs arrived in Vietnam from Thailand, bearing the tax rate of 30 percent. The selling prices of the cars were between VND1.136 billion and VND1.256 billion.

Honda was the first automobile manufacturer which received VTA (Vehicle Type Approval). In early 2018, when the consignment of cars with import tax exemption arrived, the selling prices fell to VND958 million-VND1.068 billion, or VND200 million lower.

After some price adjustment campaigns, Honda CR-V now has the quoted price of VND983 million-VND1.093 billion.

In Vietnam, the Ford Everest 2018 price fell sharply compared with last year. 

Ford Vietnam has announced retail prices for Ford Everest Trend 2.0L AT, Ford Everest Titanium 2.0 AT and Titanium 2.0 AT at VND1.112 billion, VND1.77 billion and VND1.399 billion, respectively.

As for Mitsubishi, import Outlander under the CBU (complete built unit) mode was priced at VND975 million – 1.275 billion. Since the beginning of 2018, the model has been assembled in Vietnam, and the prices have fallen to VND808 million – VND1.1 billion.

In May 2018, the price was raised to VND823 million for standard version. But later, it fell down again to VND807-1.048 billion.

Nissan’s products have seen prices fall first and escalate later. X-Trail price fell to VND852-986 million in the first months of 2018, then soared to VND878 million-VND1.013 billion in April. 

Later, X-Trail price continued rising with the availability of V-Series version.  The crossover model price is VND976-VND1.083 billion.

Unlike models which see prices fluctuate due to changes in tax policy and exchange rates, Nissan Teana prices change because the manufacturer wants to boost sales to clear stock. 

Experts said many car models fell in price because of the tax cut from 30 percent to zero percent on ASEAN-sourced products. In addition, other models have become cheaper as they now can be assembled in Vietnam. 

Other models have seen prices rise from the dong/dollar exchange rate fluctuations. The more expensive dollar has increased prices of imports and import car parts. 

US$1=VND22,000

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