Auto manufacturers from ASEAN member countries are extremely interested in the use of bio-fuel as an alternative to petrol in a bid to reduce environmental pollution.
Sales of automobiles manufactured or assembled in Vietnam fell 6 percent last year to 112,224 units, the Vietnam Automobile Manufacturers Association said.
Car sales this month have already tripled those in November last year, with customers looking to avoid a new registration fee that becomes effective later this year.
Automakers in Vietnam are now rushing to import cars from ASEAN member countries as import tariffs on automobiles have just been slashed to 70 percent from the previous 82 percent rate.
The latest report of the Vietnam Automobile Manufacturers Association (VAMA), the dominant automobile assembler in the market, shows that more than 112,000 cars sold by VAMA members in 2010, less than the results of 2009.