Update news vama
VietNamNet Bridge - Brand new cars are being sold at hundreds of millions of dong lower than initial prices, while used cars remain unsold.
VietNamNet Bridge - As CBU (complete built unit) car imports have become cheaper than ever and regulations have been loosened on import control, Vietnam could turn into a dumping ground for low-tech, low-quality cars.
VietNamNet Bridge – The Ministry of Industry and Trade (MOIT) has proposed an original idea – manufacturing car models that other regional production bases do not make.
VietNamNet Bridge - Though demand for low-cost cars in Vietnam is high, low-cost car manufacturers have failed to enter the market.
Car prices in Vietnam are nearly two times higher than in other countries in the region such as Thailand and Indonesia, and much higher than in countries with developed automobile industries such as the US and Japan.
VietNamNet Bridge - The tariff cut to zero percent will pave the way for imports from ASEAN to flood Vietnam, but analysts do not think low-cost cars will be available by 2018.
VietNamNet Bridge - Thanh Cong and Truong Hai are determined to export cars, despite a cut in import tariffs on cars scheduled to take effect in 2018.
VietNamNet Bridge - Though appreciating Japanese support to Vietnam’s industries, economists say that Japanese automobile manufacturers’ claims for investment incentives are unreasonable.
VietNamNet Bridge - Japanese investors attach high importance to expanding their investments in Vietnam. However, the localization ratio of their products remains modest, at 34 percent, much lower than that in other regional countries.
VietNamNet Bridge - Economists and representatives of Vietnamese automobile enterprises believe the threatened departure of foreign automobile manufacturers would not be a problem for Vietnam.
VietNamNet Bridge - The Hanoi authorities are trying to recall 2.5 million old motorbikes which discharge harmful substances to the environment. However, observers don’t think the solution is feasible.
VietNamNet Bridge - Japanese automobile manufacturers have discussed the possibility of relocating their factories to regional countries because of Vietnam’s weak supporting industries.
VietNamNet Bridge - So many big seafood companies have met with misfortune that some analysts have predicted the decline of the industry.
VietNamNet Bridge - Despite tariff cuts and low import prices, Vietnamese still have to pay high prices to buy cars because of high taxes and fees.
VietNamNet Bridge - While Indian cars are cheap with the average import price of VND84 million, French autos are the most expensive with the average import price of VND1.3 billion.
VietNamNet Bridge - Vietnamese enterprises are working hard to become suppliers of parts and accessories for foreign electronics manufacturers.