vietnam auto industry
The Ministry of Finance (MoF) has proposed the Government continue extending the deadline for excise tax payment for domestically-manufactured and assembled cars.
In Vietnam, the Government and National Assembly have issued preferential policies for electric vehicles.
A report on the competitiveness of the Vietnamese automotive industry released in late 2021 shows that in the 2017-2019 period, the top manufacturers of cars with less than 9 seats were foreign brands.
A number of electric car manufacturers in Vietnam plan to launch electric vehicle models accompanied by preferential policies for users this year. Experts predict that 2022 will see a boom in the Vietnamese electric car market.
Vietnam’s plan to slash luxury tax and registration fees for electric cars is expected to push the development of the domestic electric vehicle market, which is currently at the starting line.
The Vietnam Automobile Manufacturers’ Association (VAMA) said the fourth outbreak of the Covid-19 epidemic that began in late April 2021 has forced many automobile manufacturers to reduce capacity or even suspend production.
Developing electric vehicles is a "golden opportunity" that comes once every hundred years and a chance for Vietnam to rewrite the development scenario for the auto industry.
Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).
The two important FTAs – CPTPP and EVFTA – all have strong commitments on tariff cuts, with the tariffs expected to be completely removed in 7-13 years.
Truong Hai Auto Corporation (THACO), a leading automaker in Vietnam, has sold 80 Kia Grand Carnival cars to Thailand.
Automobile importers in Vietnam will no longer have to obtain a Vehicle Type Approval (VTA) certificate from authorities in exporting countries, making it easier for them to import cars into the country.
The Ministry of Industry and Trade will propose to build a credit package of 100 trillion VND (4.4 billion USD) for developing the support industry for industrial sectors, especially automobile production.