return icon Vietnamnet.vn

The wealthy continue to spend big money on cars despite Covid-19

While Covid-19 has had a big impact on the economy and most people, it has not hurt the rich. They are stil spending big money on luxury car models.

Some buyers in Hanoi said they had signed contracts to buy a Mercedes car in October but would get delivery in December. As the supply is low, they have to buy cars at the quoted prices, with no discounts.

 

 

{keywords}

 

 

For a GLC 200 4Matic in July and August, clients got a discount of VND60 million. But it is now VND2.4 billion, the quoted price, and buyers have to wait one month for delivery.

Mercedes Benz Vietnam said as domestically assembled cars now enjoy a preferential luxury tax, the number of orders has increased since July. Meanwhile, its production plan has been affected by Covid-19. Those who order cars in November will get delivery in January 2021.

With the 50 percent registration tax reduction, buyers of Mercedes C-Class, E-Class, S-Class and GLC can save tens to hundreds of million dong.

A car dealer said the buyers of Mercedes S 450 L Luxury, priced at VND4.969 billion, have seen the biggest benefits from the luxury tax policy. In Hanoi, buyers pay nearly VND300 million in tax (12 percent of car value) instead of VND600 million.

Mercedes Benz Vietnam hopes that it can sell 8,800 cars this year, the same as the previous year.

Lexus, another luxury brand, has seen sales increasing sharply in the last months of the year, with more than 1,000 products sold as of the end of October.

As for BMW, more than 600 products were sold in the first 10 months of the year. It was the third bestseller, after Mercedes and Lexus.

Imported cars do not enjoy the preferential luxury tax. However, Truong Hai Automobile has slashed prices by hundreds of million of dong for some models to boost sales of BMW cars.

Volvo products are also in short supply. A representative of Volvo Vietnam said S60 R-Design and XC90 T8 Recharge are the top choices. S60 R-Design, priced at VND1.7 billion, is favored by women.

Analysts say that the purchasing power of luxury goods has returned to normal. Automobile manufacturers hope their sales this year will not be lower than the previous year, despite Covid-19.

The luxury car market is still bustling. Nearly 30 new models and new versions have been launched on the market so far this year with prices of between VND1 billion and tens of billions.

Mercedes alone has marketed 10 new models and versions, including seven domestically assembled and three imported models. And Truong Hai launched 10 models in April. 

Tran Thuy

Car dealers sprint in last months of year, car prices plummet

Car dealers sprint in last months of year, car prices plummet

A number of large manufacturers slashed car prices in early October, signaling a fierce race in the Vietnamese auto market.

Car prices expected to drop in August

Car prices expected to drop in August

More people could afford imported cars from the EU when the EU-Vietnam Free Trade Agreement (EVFTA) takes effect from August 1.

MORE NEWS

Ngoc Linh ginseng helps Central Highlands locals out of poverty

Growers in the Central Highlands provinces dreamed of escaping poverty when they planted Ngoc Linh ginseng which has made an economic contribution to improving local farmers’ living conditions.

Soc Trang’s Khmer pagoda features giant Buddha statue

With the long-standing bonds of the Kinh, Khmer, and Hoa ethnic groups, Soc Trang boasts a special cultural identity that makes it an outstanding spiritual destination for tourists and Buddhist followers from far and wide.

Smart-homes getting cheaper in Vietnam

In Vietnam, a smart-home installation package costs VND14-25 million.

Vietnamese nationals account largest proportion of Japan’s foreign worker population

Vietnamese nationals account for 25.4% of the total 1.82 million foreign workers who were working in Japan as of the end of October last year, according to the Japanese Ministry of Health, Labour and Welfare (MHLW).

Mekong Delta develops more OCOP products

The Cuu Long (Mekong) Delta’s 12 provinces and the city of Can Tho are developing more products under the country’s “One Commune-One Product” programme.

Major Vietnamese paintings worth millions of dollars at global auctions

2022 represented a successful year for the Vietnamese painting market as three more pieces were auctioned at more than US$1 million each, bringing the total number of valuable paintings to 19. Let’s take a closer look at some of them.

Vietnamese American singer brings Tet Holiday joy to disadvantaged children

In hope to bring the children who lost their parents because of Covid-19 a warm spring holiday, Vietnamese American singer Ha Phuong spent a day to enjoy Tet with them.

How will the economy fare in 2023?

Vietnam’s economy had a prosperous year in 2022 with GDP growth rate of 8.02 percent, a one-decade high.

Female Vietnamese badminton star Thuy Linh placed 50th in world rankings

Vietnamese badminton star Nguyen Thuy Linh has risen to 50th position in the world’s latest singles women rankings, according to the Badminton World Federation (BWF).

Phin Ho ‘shan tuyet’ tea –specialty of Ha Giang

Apart from stilt houses and seemingly endless terraced paddy fields, “shan tuyet” tea, a famous specialty of Phin Ho village, is one of the special things visitors cannot forget once setting foot in Tay Con Linh Mountain in Ha Giang.

Discovering art of making vegetarian dishes in Tay Ninh

Religions and beliefs have made considerable contributions to the culinary culture of Tay Ninh.

Hoi An, HCM City among world's top 25 trending destinations in 2023: TripAdvisor

Germany’s famous travel site reisereporter.de has run an article highlighting the world’s top 25 trending destinations for 2023, including Vietnam’s Hoi An ancient city and Ho Chi Minh City, recently voted by readers of TripAdvisor.

Make-in-Vietnam sleeping machine developed by professor

FRENZ Brainband helps users have faster, tighter and deeper sleep. It can also be used for relaxing and enhancing concentration when working.

Paris Agreement: Lessons on independence, self-reliance, int’l solidarity

The signing of the Paris Agreement on ending the war and restoring peace in Vietnam on January 27, 1973, was a resounding victory of Vietnam’s revolutionary diplomacy in the Ho Chi Minh era.

PM: Lunar New Year comes with new energy

Prime Minister Pham Minh Chinh chaired a meeting of permanent Cabinet members in Hanoi on January 27, speaking of new energy of the nation following Tet (Lunar New Year), the biggest festival in Vietnam.
back_to_top