vietnam's automobile market

Update news vietnam's automobile market

Car imports skyrocket throughout October

Vietnam spent approximately US$255 million on importing over 9,600 completely built unit (CBU) cars in October, marking an increase of nearly 30% in volume compared to the previous month, according to the General Department of Customs.

Vietnam's year-end auto market still sluggish

The automobile market at the end of this year is not looking very bright as people’s purchasing power has shrunk.

Car market encounters stagnation despite strong discounts

After sales grew 13 per cent in September, the car market in Viet Nam was stagnant in October even when producers offered discounts and promotions to stimulate demand.

Despite weak demand, car dealers still make tie-in sales

While car dealers have to lower the prices of previous-generation car models to boost sales amid weak demand, they have applied the tie-in sale policy for newly marketed models.

VN car market encounters stagnation despite strong discounts

After sales grew 13% in September, the car market in Vietnam was stagnant in October even when producers offered discounts and promotions to stimulate demand.

Vietnam automobile market slides to fìfth in Southeast Asia

The recent decline in Vietnam’s automobile consumption and its drop to the fifth place in Southeast Asia can be attributed to both external and internal factors, car experts said.

Vietnam to meet its commitments in automobile import sector

Vietnam, as an open economy with multiple Free Trade Agreements (FTAs) in place, is committed to fulfilling its obligations in the automobile import sector.

Chinese vehicles seeks to make mark in VN’s auto market

The entry of Chinese automakers into the Vietnamese auto market presents both opportunities and challenges for consumers and competitors in Việt Nam, according to local car experts.

Vietnam develops smokeless vehicles, considers hydrogen fuel cell cars

Vietnam has vowed to develop green transport and reduce net greenhouse gas emissions to zero by 2050. In addition to shifting from internal combustion engine to electric vehicles, hydrogen cars are also an option for consideration.

Vietnam's CBU car imports in Jan-Aug dip 10%

Vietnam’s completely-built-up (CBU) car imports from January to August dropped by 9.8% compared to the same period last year, reports the General Department of Vietnam Customs.

Vietnam imports 71,000 autos in H1/2023

Businesses in Vietnam imported 70,915 completely built-up (CBU) vehicles worth US$1.65 billion between January and June, up 11.4% in volume and 5.2% in value, according to the General Department of Vietnam Customs.

Used car market under pressure from cheaper new cars

Many car manufacturers have applied a 50 per cent cut in registration fees for buyers, depending on car models.

Vietnam’s automobile market grows 15% in H1/2023

Members of the Vietnam Automobile Manufacturers Association (VAMA) sold 23,800 vehicles in June, up 15% from the previous month, VAMA announced on July 12.

Chinese micro electric cars enter Vietnamese market

Vietnamese like the convenience and practicality of micro electric cars which allow them to travel within the city, but the high prices and the lack of smart technologies may keep them from buying, analysts say.

50% cut in automobile registration fees to be effective from July 1

Cars will enjoy a 50 per cent cut in registration fees from July 1 after Deputy Prime Minister Le Minh Khai on June 28 signed a decree on registration fee reduction for domestically manufactured and assembled automobiles.

Sales of car imports still slow, but expected to pick up in July

The automobile market continues to be gloomy with weak demand. Sales of imported cars are even worse as only domestically assembled cars can enjoy the 50 percent vehicle registration tax cut per a government decision.

Thailand becomes Vietnam’s largest automobile supplier in five months

Thailand has surpassed the likes of Indonesia and China to become Vietnam’s largest automobile supplier during the opening five months of the year, according to the General Department of Vietnam Customs.

Car sales may remain lackluster despite fee cut: Finance Ministry

The Government has approved a proposal to reduce the registration fee for domestically manufactured automobiles by 50%. However, the Ministry of Finance has predicted that the fee cut may not have the desired impact.

Domestic cars to have registration fees cut by half from July 1

Domestically produced and assembled cars are to have their registration fees slashed by half during the last six months of 2023, according to the Government Office.

Car sales sluggish, dealers incur big losses

Many car dealers have complained that the market is sluggish and the inventory level is alarming. The long-lasting losses have forced them to cut their workforce or even consider shutting down.