Update news vietnam's automobile industry
Proposals by Toyota and Ford about tax incentives have not received support from the Ministry of Finance (MOF) which says there are already many policies to support the domestic automobile assembling and manufacturing.
The Ministry of Finance has declined to support proposals put forth by Toyota and Ford to relax regulations and include certain auto parts in the list of items eligible for a 0% tax rate.
Facilitating the transition to electrified vehicles in VN, State management bodies must put forth preferential policies, development strategies and initiatives to encourage adoption by users, according to experts.
Vietnamese, when choosing electric vehicles (EV) as their next car purchase, will not choose based on climate change concerns or preferences offered by the government, a recent survey by Deloitte has found.
Vietnam’s electrical vehicle (EV) market is poised for strong growth over the next decade, according to the latest report by BMI Research.
Buyers of electric vehicles (EVs) could receive an incentive totalling 1,000 USD per purchase.
Vietnamese enterprises in the auto industry are not deeply involved in the global supply chain.
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.
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.
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.
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 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.
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.
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.
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.
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.