vietnam's automobile industry

Update news vietnam's automobile industry

Transport Ministry proposes incentives for EVs producers, users

The Ministry of Transport has just submitted its proposal to Deputy Prime Minister Tran Hong Ha on incentives for electrical vehicle (EV) producers and users.

Automaker Thaco's value drops to US$3.8 billion

Thaco, the automobile manufacturer owned by billionaire Tran Ba Duong, has seen fluctuations in valuation with the difference of up to several billion, according to transactions in recent years.

Auto stocks expect good prospects on supportive policies

Despite poor results in the first quarter of 2023, auto stocks are still expected to perform well on supportive policies, including interest rate cuts and a 50% reduction in automobile registration fees.

Domestic automakers increase output in anticipation of 50% registration tax cut

While car imports have slowed down, domestically assembled output has increased sharply. Manufacturers are preparing for the year-end sale season, when domestically made cars will enjoy a 50 percent vehicle registration tax cut.

VN has one more EV startup, teams up with German manufacturer

The newest electric vehicle manufacturer in Vietnam, with technology transferred from Germany, will set up a factory in Thai Binh that will make small-size city vehicles.

Thaco Auto valued at $5 billion, president to sell 10% of shares

Thaco Group owned by billionaire Tran Ba Duong is planning to sell 10 percent of shares in Thaco Auto, one of its subsidiaries, in 2023. The automobile manufacturer is expected to be valued at $5 billion.

Car manufacturers get tax extension

The Government just issued Decree No. 36 extending the time limit for paying excise tax on domestically manufactured or assembled cars.

Cut on automobile registration fees to facilitate auto industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.

Is a small-size BYD EV a threat to VinFast’s VF 5?

On the first day of the Shanghai Exhibition, BYD’s small-size electric vehicle (EV) sold out which led many people to believe that the model would have an advantage over the Vietnam-made VinFast VF 5.

Ministry supports 50 percent cut on auto registration fees

In the first three months this year, Vietnam Automobile Manufacturers Association (VAMA) members sold a total of nearly 77,090 units, down 31 per cent compared to the same period last year.

Trade Ministry backs 50% car registration fee cut

The Ministry of Industry and Trade has thrown its weight behind a proposal for a 50% registration fee cut and an extension of special consumption tax payments for domestically made and assembled cars to boost consumption.

Difficulties encircle the Vietnamese automobile industry

Automobile manufacturers have once again proposed an extension of the luxury tax payment deadline and 50 percent vehicle registration tax cut for domestically assembled cars.

Hybrid vehicle sales boom amid fuel shortage

Though technical barriers exist and there is a shortage of charging stations, hybrid Electric Vehicles are a good choice for markets like Vietnam.

Vietnam auto makers project bumpy years ahead

Car manufacturers are calling for the reinstatement of measures used during the pandemic in order to help boost flagging vehicle sales.

Low localisation rate hindering progress

A stronger supporting industry and focus on boosting localisation rates is deemed a prerequisite to help brands increase production and also reduce costs.

Government asked to devise 50 per cent cut on auto registration fee

The Government has asked the Ministry of Finance and other relevant ministries to devise a 50 per cent cut on auto registration fees for locally...

Automakers react to statement that 'VN can only make screws for vehicle number plates'

Vietnamese automobile manufacturers have had strong reactions to the comment by an analyst that the country's automobile industry is nothing more than the production of screws for vehicle number plates.

'Vietnam can only produce screws for car license plates': professor

A speech by Assoc. Prof. Dr. Phan Dang Tuat, Chairman of the Vietnam Association for Supporting Industries (VASI), has raised controversy after he reportedly stated that Vietnam can only make screws for car license plates.

VN auto sales growth may slow after record 2022: experts

Vietnam’s auto industry broke its sales record last year with its highest revenue and profit. This year, sales growth is expected to slow due to many negative issues, auto experts predict.

Nearly 200 businesses to join Autotech & Accessories show 2023

The 19th Vietnam International Autotech & Accessories Show will take place from May 18-21 in Ho Chi Minh City, expecting 300 booths organised by nearly 200 businesses.