After a sudden reduction in August, the CBU import last month surged again to 8,000 units worth $132 million and continued rising to 7,300 vehicles and $107 million sharply in October.
Foreigners from countries with left-hand traffic systems will be allowed to bring their right-hand drive vehicles into Vietnam with permission from the Ministry of Transport as from November 15, a new decree said.
The Ministry of Finance has rejected a request by local car makers to extend tax incentives until next year, local online newspaper VnExpress reported Wednesday.
The Government’s auto industry strategy remains on the right course but it needs to be tweaked to boost the industry’s development, Deputy Minister of Industry and Trade Le Duong Quang said.
Europe’s largest carmaker Volkswagen Group yesterday opened its first authorised showroom in Ha Noi’s Hai Ba Trung District. World Auto Co Ltd is the authorised importer. A second showroom will be opened in HCM City this year.
Impressed by the rapid growth rate, car manufacturers like Volkswagen and Audi have now entered the competition to “‘conquer”’ Vietnam’s market with luxury-priced automobiles, while Nissan has placed its bets on the domestic manufacture of a family sedan.
Carmakers in Vietnam are facing the big question that what they will do in 2018 when the countries signing Asean Free Trade Agreement (Afta) apply the tariff of 0 percent and car usage will be popular by that time.