vietnam's automobile market

Update news vietnam's automobile market

Vietnamese buyers favour 5-7 seater cars

Vietnamese consumers show an increasing preference for SUVs, CUVs, and MPVs over sedans due to their practicality, as observed on popular Vietnamese car listing websites.

Imported cars flood local market despite of poor purchasing power

Vietnamese firms spent over 903 million USD in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO).

Car imports from Thailand still hold largest market share in Vietnam

Thailand once again led the market in terms of value and the number of CBU (complete built unit) cars imported to Vietnam in February 2023.

Brand-new automobiles to be exempt from first mechanical check

Brand-new automobiles will be exempt from the first mechanical check under a revised circular on technical safety and environmental protection promulgated by the Ministry of Transport.

Auto importers in Vietnam seek 50% cut in registration fee

The Vehicle Importers Vietnam Association (VIVA) has submitted a request to the Government seeking approval for a 50% reduction in registration fees for imported automobiles, matching the fee structure proposed for locally-made cars.

Cars in Vietnam not coming cheap

Vietnamese automobile prices are substantially higher than those in other regional countries because of high taxes and low output, according to the Ministry of Industry and Trade.

Vietnam becomes fourth largest car consumer in ASEAN

The nation has overtaken the Philippines to become the ASEAN region’s fourth largest automobile consumption market, behind only the Philippines, Thailand, Indonesia, and Malaysia, according to details given by the Ministry of Industry and Trade.

Associations propose halving car registration fee

Associations have proposed the central Government halve the registration fee for locally assembled or manufactured cars during the first half of the year to boost market demand.

Finance Ministry proposes lowering luxury tax for electric, hybrid vehicles

The Ministry of Finance (MOF) is working on an amendment to the Special Consumption Tax (luxury tax) Law to further slash tax rates on electric cars and hybrids.

Vietnam’s largest automobile distributor reports record high profit

Domestic auto distributors reported robust revenues and high profits in 2022 thanks to a significant increase in car sales.