Top ten auto events in 2013 in rear-view mirror

From top luxury car manufacturer coming to Vietnam to the first Vietnam Motorcycle Festival in passing through new incentives, a glance at the 10 auto events in 2013. Illustrative image (Photo: VNA) 1. World's top luxury car manufacturer comes to Vietnam British luxury car maker Rolls Royce appointed Regal Motor Cars as its first dealer in Vietnam, giving the company a foothold in one of the region's emerging auto markets. As many as 70 Rolls Royce cars are running in Vietnam, four of them Phantom Dragons - a limited edition that costs 1.2 million USD. 2. Vietnam Motorcycle Festival 2013 revs up Ho Chi Minh City The Vietnam Motorcycle Festival 2013, the first of its kind in Vietnam, was held in Ho Chi Minh City from July 27 to 28 and was attended by more than 1,200 high-end motorbikes from clubs nationwide. The event showcased the latest motorcycles from a wide range of international brands, including Harley-Davidson, Benelli, BMW, Kawasaki, KTM, Pilsa, Suzuki, Triumph and … [Read more...]

Top ten auto events 2013

1. World's top luxury car manufacturer comes to Viet Nam British luxury car maker Rolls Royce appointed Regal Motor Cars as its first dealer in Viet Nam, giving the company a foothold in one of the region's emerging auto markets. As many as 70 Rolls Royce cars are running in Viet Nam, four of them Phantom Dragons - a limited edition that costs US$1.2 million. 2. Vietnam Motorcycle Festival 2013 revs up HCM City The Vietnam Motorcycle Festival 2013, the first of its kind in Viet Nam, was held in HCM City from July 27 to 28 and was attended by more than 1,200 high-end motorbikes from clubs nationwide. The event showcased the latest motorcycles from a wide range of international brands, including Harley-Davidson, Benelli, BMW, Kawasaki, KTM, Pilsa, Suzuki, Triumph and Victory. 3. Automobile firms want import tax payment deadline extended Many automobile businesses have asked the Government to extend its deadline for import tax payments because they need to concentrate on the … [Read more...]

Vinaxuki wants tax reduction and bank loan

One of two largest Vietnamese auto brands, Xuan Kien Automobile Joint Stock Company (Vinaxuki) has asked the Government to reduce the 70 percent consumption tax on its locally made cars from January 2014. Vinaxuki said this would help expand the manufacturing of eight-seat vehicles, popular in rural areas, taxi business as well as push up its localisation process. The company also wants to borrow VND250 billion (US$11.9 million) from Viet Nam Development Bank over seven years under the national mechanical engineering plan. Besides it wants to borrow long-term funds or delay paying tax from October this year so that it can invest in research, design, technology transfer and make its own engines.   Vinaxuki has been manufacturing and distributing models of buses and trucks. Its factories have a total capacity of 60,000 units per year. Its move follows the Government’s acceptance of a request from the Truong Hai Automobile company (Thaco) to extend its deadline for paying … [Read more...]

Car makers plead for Gov’t help

HA Noi (VNS) — Xuan Kien Automobile Joint Stock Company (Vinaxuki) has asked the Government to reduce the 70 per cent consumption tax on its locally made cars from January. Vinaxuki said this would help expand the manufacturing of eight-seat vehicles, popular in rural areas and as taxis - as well as push up its localisation process. The company also wants to borrow VND250 billion (US$11.9 million) from Viet Nam Development Bank over seven years under the national mechanical engineering plan. It also wants to borrow long-term funds or delay paying tax from October this year so that it can invest in research, design, technology transfer and make its own engines.. Vinaxuki has been manufacturing and distributing models of buses and trucks. Its factories have a total capacity of 60,000 units per year. Its move follows the Government's acceptance of a request from the Truong Hai Automobile company (Thaco) to extend its deadline for paying import tax. Many other automobile businesses have … [Read more...]

SPCT aims high for car imports

The Saigon Times Daily Nguyen Le Chon Tam, deputy general director of SPCT, was quoted by Vietnam News Agency as saying that to realize the target SPCT would be expanded by 10 hectares and have more piers to handle more imported cars. Tam said the expanded area would help house more cars imported into Vietnam via the terminal from ASEAN markets, Europe and America as well as vehicles shipped from northern localities. Tam said the volume of autos imported via SPCT in the first six months of this year surged 60% year-on-year on average with the figure in March climbing 314% to 1,442 units. Nguyen To An, head of the vehicle quality management department at Vietnam Register, said over 7,300 out of the total vehicles imported into Vietnam in the first half went through SPCT. SPCT in Hiep Phuoc Industrial Park in the outlying district of Nha Be aims to handle 18,000-20,000 imported vehicles this year and 40,000-60,000 units in 2018. Vietnam Register inaugurated the testing center … [Read more...]

Car sales increase 58 percent over last year

Sales of automobiles rose in most segments during the first half of the year in comparison with the same period last year. In its latest report, the Vietnam Automobile Manufacturer' Association said that some 103,500 vehicles were sold in the Vietnamese market during the period, an increase of 58 percent period-on-period. Sales included 45 percent from small cars, 75 percent in commercial vehicles and 136 percent from special-purpose vehicles. In June, the sale of passenger cars reached the highest volume in every segment with 9,796 units, a growth rate of 9.2 percent compared with the previous month. Meanwhile, commercial car sales saw an increase of 0.5 percent to 7,834 units, while special-purpose autos lost 8.1 percent to 1,083 units. As the purchasing power of passenger cars depended upon VAMA members, that of commercial and special-purpose vehicles increased for car importers. The month also saw an unbalanced growth rate between locally-assembled complete knock down (CKD) … [Read more...]

Car sales increase 58% over last year

HA NOI (VNS) — Sales of automobiles rose in most segments during the first half of the year in comparison with the same period last year. In its latest report, the Vietnam Automobile Manufacturer' Association said that some 103,500 vehicles were sold in the Vietnamese market during the period, an increase of 58 per cent period-on-period. Sales included 45 per cent from small cars, 75 per cent in commercial vehicles and 136 per cent from special-purpose vehicles. In June, the sale of passenger cars reached the highest volume in every segment with 9,796 units, a growth rate of 9.2 per cent compared with the previous month. Meanwhile, commercial car sales saw an increase of 0.5 per cent to 7,834 units, while special-purpose autos lost 8.1 per cent to 1,083 units. As the purchasing power of passenger cars depended upon VAMA members, that of commercial and special-purpose vehicles increased for car importers. The month also saw an unbalanced growth rate between locally-assembled … [Read more...]

THACO leads local auto sellers

With 6,666 cars sold, the Truong Hai Auto Corporation (THACO) topped the list of Vietnamese auto makers in June. THACO’s sales accounted for 38.6 per cent of those made by members of the Vietnam Automobile Manufacturers Association (VAMA) during the month. In the first half of the year THACO also ranked first, with 34,593 cars sold, representing 37.7 per cent of total sales by VAMA members. Kia, with the Kia Morning, K3, New Sorento, and Kia Rio, remained its main sales line with 8,456 units sold, up 72 per cent compared to the same period last year, followed by Mazda, with 8,175 units sold, up 125 per cent. In the commercial segment, THACO Ollin trucks, THACO Frontiers, THACO Forlands and THACO Hyundai buses were among the most popular in the first six months, with 17,735 units sold. Based on its positive business results so far this year THACO targets selling 78,834 cars in 2015, accounting for 42 per cent of VAMA member’s sales and representing annual growth of 86 … [Read more...]

THACO leads auto sales in first half of 2015

With 6,666 cars sold, the Truong Hai Auto Corporation (THACO) topped the list of Vietnamese auto traders in June. Of the figure, THACO business accounted for 38.6 percent of the Vietnam Automobile Manufacturers Association (VAMA) sales in the month. In the first half of 2015, THACO also ranked first in the domestic market with 34,593 cars sold, equivalent to 37.7 percent of the total VAMA amount. Kia's trademark, including Kia Morning, K3, New Sorento and Kia Rio, remain the main sales line of the company with 8,456 units, up 72 percent compared to the same period last year, followed by Mazda with 8,175 units, up 125 percent. In the commercial automobile lines, THACO Ollin trucks, THACO Frontiers, THACO Forlands and THACO Hyundai buses are among the most requested in the first six months of this year with 17,735 units. Based on the positive business results so far this year, THACO targets selling 78,834 cars in 2015, accounting for 42 percent of VAMA’s share and … [Read more...]

International motor show in Hanoi for mid-October

An exhibition of imported motor vehicles will be held in mid-October in Hanoi, called the Vietnam International Motor Show (VIMS). This is the first exhibition by auto importers and distributors after officially parting company with the Vietnam Automobile Manufacturers’ Association (VAMA) to organize their own exhibition after three years of cooperation, from 2012 to 2014. VIMS 2015 will showcase imported vehicles from Audi, BMW, Jaguar, Land Rover, Luxgen, Mini, Porsche, Renault and BAIC. BAIC, one of the largest auto brands in China and owned by Beijing Automobile, is to be launched at the exhibition. While the appearance of BAIC is expected to attract much interest, other famous names such as Volkswagen and Subaru remain unpopular in Vietnam and will not be in attendance. Mr. Laurent Genet, a representative of the auto importers, said VIMS 2015 will not only showcase vehicles but also be a venue for importers to learn about support industries and related services such … [Read more...]

Over 100,000 autos sold in H1

Quoc Hung A model poses next to a car at an auto show in HCMC - PHOTO: QUOC HUNG A recent report of the Vietnam Automobile Manufacturers Association (VAMA) showed 18,686 autos found buyers last month, increasing by only 4% against May but 57% year-on-year. The sales volume of passenger cars was the highest last month with 9,769 units, a 9.2% rise against the previous month. Meanwhile, 7,834 commercial and 1,083 special-purpose vehicles were sold, up 0.5% and down 8.1% respectively. Consumption of domestically assembled autos in June grew 3% to 14,448 units over the previous month while sales of imported vehicles rose 9% to 4,238 units over May. In all, the country consumed nearly 103,500 autos in the first six months, jumping a staggering 58% year-on-year. Passenger cars made up the largest proportion, 60,132 units, followed by commercial autos with 37,320 units and special-purpose vehicles with 6,040 units. The automakers that reported high sales growth in January-June … [Read more...]

First Vietnamese appointed CEO of Ford Vietnam

VietNamNet Bridge – Ford on July 10 officially announced the decision to appoint Mr. Pham Van Dung as the Chief Executive Officer (CEO) of Ford Vietnam. Mr. Pham Van Dung. Dung will take up the position on August 1. He is the first Vietnamese national to hold the position and will report directly to President of Ford ASEAN, Mr. Mark Kaufman. Dung will have overall responsibility for leading the continued growth of Ford’s operations in Vietnam, including both the company’s corporate functions and its Hai Duong assembly operations. "We are proud and excited to be elevating a Vietnamese national, and someone as deserving as Mr. Dung, to lead our local operations for the first time. Mr. Dung has been a key component of our Ford Vietnam executive team for a number of years and we are confident that he will continue to drive our growth and success as the leader of a very talented team," said Kaufman Dung joined Ford Vietnam in 1998 as a corporate accountant in … [Read more...]

H1 auto imports surge 186% y-o-y

Quoc Hung An updated report of the General Statistics Office (GSO) indicated the January-June CBU auto imports almost reached the US$1.57 billion level recorded in all of 2014 and were more than double the figure in 2013. The first six months saw car imports surging 121.6% to 57,000 units, including 11,000 worth US$345 million in June alone. Notably, the volume of imported cars was less than the 72,000 units registered for all of 2014. This meant auto companies, particularly joint ventures, spent more on expensive cars. Almost all local auto joint ventures have imported cars for sale in Vietnam, especially luxury units. More than 10 luxury car brands are available on the domestic market. This year, car importing firms will join what will be the first exhibition of imported car brands in Vietnam in October. These car importers have invested heavily in their sales and maintenance systems across the country. Such exhibitions were organized by auto assembly joint ventures and … [Read more...]

Hanoi to host Vietnam Int’l Motor Show 2015

(VOV) - Vietnam International Motor Show 2015 is set to get underway at Vietnam Exhibition and Fair Centre in Hanoi on October 10-13. Nine authorized importers of Audi, BMW, Jaguar, Land Rover, Luxgen, MINI, Porsche, Renault and BAIC have registered to take part in the event. The event, organized by Vietnam Automobile Manufacturers’ Association (VAMA) is expected to showcase the latest vehicle models, engines and advanced technologies. It also provides a good chance for enterprises to meet and exchange. Laurent Genet, representing the participating car importers, affirmed that they understand the Vietnamese market and can meet Vietnamese customers’ diversified demand. Through the event, car importers hoped that customers can make the best buying decision, he noted. … [Read more...]

Vietnam’s new luxury tax proposal may raise car prices by 30 pct: industry

A car factory in the central province of Quang Nam. Photo: Hua Xuyen Huynh Automobile manufacturers and importers in Vietnam have protested a new proposal from the Ministry of Finance which seeks to change how luxury tax on cars is calculated. Under the ministry's plan, the special consumption tax on all vehicles with fewer than 24 seats will be based on their retail prices, with rates ranging from 15 to 60 percent. The proposal, set to take effect on January 1 next year, is aimed to create a level playing field for importers and producers since their cars will be treated the same, the ministry said. Currently, the luxury tax on imported cars is calculated on the Cost, Insurance Freight (CIF) price rather than the final retail price, a policy that manufacturers said could give importers an unfair advantage. They said local products could not compete with imported cars since local cars are taxed based on retail prices, which include a number of additional costs. Many automobile … [Read more...]

Breakfast @ Tuoi Tre News – June 12

Tuoi Tre News briefs you on some of the leading stories published today in Vietnamese media: Politics -- State President Truong Tan Sang suggested the International Monetary Fund (IMF) continue to support to Vietnam in economic reform and high-quality workforce training, as the country is facing a number of challenges while integrating into the global economy, when meeting IMF Deputy Managing Director Mitsuhiro Furusawa in Hanoi on Thursday. -- Hanoi welcomes and supports any constructive, positive, and responsible contribution by countries within and outside the Asia-Pacific region for peace and stability in the East Vietnam Sea, the Vietnamese Foreign Ministry’s spokesperson Le Hai Binh said at a regular press conference on Thursday. The current situation in the East Vietnam Sea is a cause for deep concern among the international community and is obviously not beneficial to peace and stability in the region, Binh added. Society -- Only 17 percent of bus stations in … [Read more...]

2015 Vietnam AutoExpo to take place in Hanoi

Photo: citinews.net PANO - The 12th International Exhibition on Automobile and Supporting Industries (2015 Vietnam AutoExpo) will be held at the Giang Vo Exhibition and Fair Centre, Hanoi, between June 17th and 20th. Along with local firms, businesses from Japan, Thailand, the Republic of Korea, India, Taiwan (China), Singapore and Malaysia will showcase their products at the event. The main exhibits at the show will be cars, industrial support products and related businesses like service stations and insurance. It is a place where customers can get the latest updates on prices, technology and the automotive industry, and also the perfect environment for car dealers to exchange with buyers. According to the Vietnam Automobile Manufacturers’ Association (VAMA), the automobile market in Vietnam could grow by as much as 10 per cent this year with sales volumes reaching almost 200,000 units. Source: otofun.net Translated by Viet Anh … [Read more...]

Hanoi to host Vietnam AutoExpo 2015

(VOV) - The 12th International Exhibition on Automobile & Supporting Industries (Vietnam AutoExpo 2015) will take place in Hanoi on June 17-20. According to the Vietnam Automobile Manufacturers’ Association (VAMA), the automobile market in Vietnam might reach a growth rate of 10% this year with sales volume of nearly 200,000 units. Right in the first four months of the year, a total of 66,885 vehicles were sold, an increase of 62% against the same period last year. The Expo will contribute to supporting businesses, stimulating market, opening up huge opportunities, strengthening trade links and seeking potential partners and clients. On display at the event are passenger sedans, trucks, buses, motorcycles, bicycles, specialised vehicles. Exhibits will also include supporting industries like material and equipment used automobile, motorcycle and bicycle production; parts, equipment, toys and decors and other fields like garage, repairing, maintenance, banking and insurance … [Read more...]

Ministry proposes new consumption tax calculation for imported autos

Quoc Hung The ministry’s proposed calculation of SCT will focus on under 24-seat autos in a fresh move to narrow the gap between the SCT imposed on imported and domestically assembled autos. Accordingly, this tax on imported autos of under 24 seats would go up as sale costs and service fees on the local market are also taken into account. The ministry wants the new SCT calculation to take effect from January 1 next year to help protect domestic auto manufacturers and counter budget revenue reductions. Under the existing calculation, SCT is calculated for imported autos based on the total CIF (cost, insurance and freight) price plus import tax. But the ministry wants SCT to be set on the import price, costs of sale, advertisement and marketing, commissions for retailers and profit of importers. The ministry explained the new method will ensure the fair calculation of SCT for car importers and assemblers and enable the country to deal with tax cuts on cars imported from … [Read more...]

January-April CBU auto imports from China surge

Quoc Hung Customers inspect an imported car on show at an auto exhibition in HCMC. Vietnam imports over 35,000 autos worth nearly US$880 million in the first four months of this year, according to the General Department of Customs - PHOTO: QUOC HUNG The report said CBU units from the northern neighbor made up the biggest proportion of auto imports in Vietnam in January-April, followed by South Korea with 7,740 units (up 48% year-on-year), Thailand with 6,850 (up 165%), India with 5,700 (up 164%) and Japan with 2,290 (up 120%). Vietnam imported more than 35,000 autos worth nearly US$880 million in the four-month period, increasing 131% in volume and 180.6% in value compared to the same period last year. The total volume comprised of 13,200 cars of under nine seats, surging 89.3% year-on-year. Truck imports jumped 93.6% to 12,930 units while other vehicles took a nearly six-fold increase to 8,890 units. According to car importers, most of the autos imported from China in the … [Read more...]