Hang Xanh Auto Service Joint Stock Co (coded HAX) announced its business results in the first four months of this year with after tax profit of 4.2 billion dong, fulfilling 28 percent of the year plan.
On May 19th, the Hanoi Tax Bureau said it has not made any decision to raise auto pre-registered fees to 15%. The rumors that auto pre-registered fees would increase as of June 10th are not accurate.
The imported automobile market has been looking gloomy since early this year. As a result, car importers are struggling with the decline in sales and are suffering with lower benefits and losses.
Owners of auto showrooms in HCM City are jubilant with the expansion of sales over the last few days. In contrast, the northern auto market is still gloomy.
Prime minister has lately issued guidance about adjustment and supplements the industrial zones in Bac Giang province into the general development plan of industrial zones in Vietsnam up to 2020.
Car dealers have slashed prices repeatedly, but they still cannot find buyers. The dealers admit that they are facing their most difficult business period ever. Some speculate that up to fifty percent of dealerships may close by the next quarter.
Vietnam's automotive industry rode a rollercoaster in 2009 as increased taxes brought sales down earlier in the year, only for tax cuts on passenger cars to inflate segment sales in the latter months of the year.
The Ministry of Industry and Trade is joining forces with the State Bank of Vietnam (SBV) to control more tightly loans in foreign currencies that aim to fund imports of 1500 product items. Imported cars under the mode of complete built units (CBU) are among them.