Hanoi Times - That was the promotion program of the Euro-Auto Joint Stock Company, applied for all BMW automobiles in Hanoi from June 23 to July 23. The program is a part of activities celebrating the opening of the Euro Auto's BMW automobiles showroom in Hanoi. Customers can have their cars checked by making appointment with the Euro Auto through hot line 0915 344 061. According to Euro Auto, they could answer any question about the automobiles with the help of an Integrated service information server (ISIS). Euro Auto Director Huynh Du An said 1 year after becoming the BMW authorized dealer in Vietnam, the company has been trying its best to please customers through many activities such as marketing, sales and after-sales services. And the company's service is always beyond the customers' expectation. At present, Euro Auto's investment projects are being implemented, showing the long-term commitment of the company in Vietnam's market. … [Read more...] about Hanoi Euro Auto: Free check for BMW
Euro auto parts
The Hanoi Times - After reducing 50 percent of VAT (value added tax) in auto and auto spare parts, imported auto producers and distributors in Vietnam actively decreased costs. Costs were reduced from US $1,100 to 9,000 for each. Toyota Motor Vietnam (TMV) decided to adjust retail prices for its all models of auto. Seven Toyota models will have US $1,100-4,900 reduction for each as from February 1st, 2009. Each model of TMV has 4.3-4.6 percent decrease on average. Euro Auto, the major importer of BMW in Vietnam, also announced a new price table for every types of BMW under new value added tax of 5 percent, applied for invoices as from February 2, 2009. Accordingly, 12 types of auto which are being distributed by Euro Auto will have US $3,000-9,000 reductions. Each model of BMW will have 4.55-5.88 percent decrease on average, especially Z4 line enjoying 6.8 percent worth US$ 7,000. BTA KTDT Online … [Read more...] about Auto producers reduce cost sharply
Workers assemble cars at Hoa Binh Automobile Plant in northern Vietnam After almost two decades of waiting for Vietnamese consumers to become rich enough to afford cars, manufacturers including Toyota Motor Corp. and Ford Motor Co. will have to contend with cheaper imports. Current Vietnamese duties of 60 percent will be eliminated by 2018 for cars imported from within the Association of Southeast Asian Nations, Met Arias, chairman of the Vietnam Automobile Manufacturers Association and managing director of Ford's unit in the country, said in an interview October 23. Without a major parts industry, car production costs are higher than elsewhere in the region because of taxes on imported components, he said. The government cited the auto industry as an important driving force under a plan to become a "modern industrial country" by 2020. The impending abolishment of protective duties risks giving automakers little incentive to modernize or continue running plants in Vietnam even … [Read more...] about Toyota to Ford brace for Vietnam auto import competition
Hanoi Times - The news about Sony Vietnam shutting down its assembly workshop in Vietnam has given people cause to worry about the future of the automobile industry. From Sony's story… The leader of a big electronics joint venture in Vietnam said that the announcement about the dissolution of Sony Vietnam was released later than Sony initially planned, when it landed in Vietnam 14 years ago. When setting up the joint venture with Viettronics Tan Binh and setting up a workshop in 1994, Sony Japan planned the duration of 10 years only for the workshop, which meant that the workshop was planned to be closed in 2004. Later, the two parties of the joint venture agreed to extend the workshop operation until 2010. However, they have changed their minds and decided to shut down the workshop in 2008. Similarly, other Japanese electronics producers also sought operation licences for 10 years only, including JVC, Toshiba and Matsushita. They planned to shut down their workshops … [Read more...] about Auto industry to follow electronics industry?
Hanoi Times - Car importers in Vietnam said they would increase retail prices to cope with the higher import tariff on new complete-built units (CBUs), which became effective today. The Ministry of Finance on March 11 raised the import tariff on CBUs from 60 percent to 70 percent as part of a Government drive to reduce traffic congestion by curbing the mass importation of automobiles into the country. Ha Minh Tuan, general director of Huyndai Motor Vietnam, the country's biggest importer of Korean Huyndai brand, said the company will increase sales prices for all models by an average of 6 percent. "For example, the retail price of the gasoline-engine Santa Fe will increase from the current US$ 37,000 to US$ 39,200." Meanwhile, Vinh Hoang Co in Hai Phong, the biggest car importer in the North, said it would add US$ 2,700 to the price of the Toyota Camry LE 2.4, one of its best selling models, for a price of US$ 56,000. Some luxury models such as the Lexus 470 and … [Read more...] about Auto importers ready price increases