Ford Vietnam has recently announced its business and production results in 2009 with a record sales turnover of 8,286 vehicles, increasing by 28% over the previous year’s figure.
The total turnover of all the 16 members of the Vietnam Automobile Manufacturers’ Association (VAMA) in 2009 showed a shared growth rate of seven percent in comparison with 2008.
The Vietnam Automobile Manufactures’ Association (VAMA) said that its total sales of vehicles in 2009 reached 119,000 units, a year-on-year increase of 7 percent.
Automobile sales, including domestic-manufactured and imported autos, last year set a new record of nearly 200,000 units on the domestic market despite the global economic slump, giving a strong boost to automakers in Vietnam.
Auto sales in Vietnam surged 59 percent last month from a year earlier to 15,065 units, slowing from an annual rise of 132 percent in November, an industry report said.
Ford Viet Nam announced on Monday a price increase of 4.7–6.1 per cent for all of its models, due to an adjustment of its VAT rate from 5 to 10 per cent.
As forecasted, between January and February 2010, the domestic car market will enjoy 50 percent reduction of VAT and Vehicle Registration Recovery Fee (VRRF).
Car retail prices in Viet Nam have increased by from 4.5 to 5 per cent to cope with the higher value-added tax (VAT) on the product that became effective at the beginning of the year.
The Ministry of Finance is planning to allow tax agencies nationwide to adjust retail prices of cars and motorbikes when the products are offered at lower prices than they should for tax evasion purposes.