Malaysia's Tan Chong Motor Holdings Bhd has received Vietnam's go-ahead to set up a subsidiary that will manufacture and assemble buses, trucks and cars. The company's total investment is expected to be US$15 million (RM50.9 million).
Motor Image Vietnam general director Jonathan Tan tells Thanh Nien Weekly his firm’s introduction of Subaru in Vietnam will be supported by a middle class that has continued to buy up cars despite the economic crisis.
The Vietnamese government awarded Friday a state medal to GM Daewoo Auto & Technology Co., honoring its business achievements and contributions in the Southeast Asian country, the company said and Yonhap News reported.
Vietnam’s national car association has expressed its disapproval of a recent proposal by the Ministry of Industry and Trade to promote cars with 6-9 seats and small engines as the country’s strategic product line.
The Vietnam Automobile Manufacturers’ Association (VAMA) has proposed setting up a research team with the aim of setting the strategic car line for Vietnam.
Finance Ministry inspectors have wrapped up their work at the plants of six automobile assembly plants. They found that the localization strategy on which Vietnam has put high hopes has fallen far short of its goals.
The reasons lifting Vietnam's car prices to the highest level in the world are low domestication rate and high tariff, which has pushed the country's automobile domestication policy closer to the bankruptcy dilemma, Ministry of Finance's inspectors said.
Houses, automobiles, ships, motorcycles and other commodities will have a new registration fee, according to a draft circular on registration fee compiled by the Ministry of Finance.
Auto sales in Vietnam in November leapt 132 percent from a year earlier to 12,259 units after a jump of 103 percent in October, an industry report said on Tuesday.