Car prices still highBy Hung Le A model poses in front of a car on display at an auto show in HCMC. The prices of automobiles have remained high despite a reduction in duties – PHOTO: QUOC HUNG HCMC – The prices of automobiles have remained high despite a reduction in duties, officials have said. Since early 2018, the import duty on completely-built-up (CBU) cars imported from ASEAN markets has fallen to zero from 30% in 2017. Meanwhile, cars with an engine capacity under 2,000cc enjoy a 5% reduction in special consumption tax. However, the prices of some imported CBU and domestically assembled cars have been surging. Many regulations in the Government’s Decree 116 on auto manufacture, assembly, import, maintenance and warranty services and the transport ministry’s Circular 3/2018, guiding the execution of the decree, have sent auto imports into a tailspin. Since early this year, car imports in certain weeks or months have almost ground to a halt, … [Read more...] about Car prices still high
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(VEN) - The number of convenience stores is growing rapidly in Vietnam. Increased number According to the Ho Chi Minh City Department of Industry and Trade, at the end of 2014, the city had 326 convenience stores. By March 2018, that figure had surged by 3.5 times to 1,144 stores, biting into the business of traditional markets and supermarkets. While traditional markets are gradually degraded, convenience stores continue to increase its number. Leading convenience store names such as 7-Eleven and Circle K have flocked to Vietnam, drawn to one of the world’s most attractive retail markets. Vietnamese retail businesses have also been expanding the convenience store model. By March 2018, Saigon Co.op had 181 Co.op Food stores and 71 Co.op Smile, while VinMart+ had more than 800 stores. Vietnamese consumers have grown increasingly accustomed to shopping in these convenient stores, often preferring them to supermarkets and hypermarkets. Support policies Vu Vinh Phu, a retail … [Read more...] about Boom in convenience store model
Thousands of completely built-up (CBU) cars imported from the ASEAN and enjoying tariff exemption have arrived to Vietnamese seaports, while domestic automobile manufacturer Toyota Motor Vietnam has just expanded its local factory. Will TMV reduce the price of Toyota vehicles to compete with tax-exempt imports? There are 300 Honda cars in this container alone A cargo ship carrying thousands of CBU cars imported from Thailand has arrived at Haiphong Port several days ago, carrying Honda, Chevrolet, Ford, and Nissan vehicles, according to dantri.com.vn. An officer at Haiphong Port told that this cargo ship came from Thailand and could carry around 4,000 vehicles. In late June, another cargo ship from Indonesia will arrive, carrying Toyota vehicles among others. Thus, after a spell of quiet, tax-exempt imported cars from Thailand are flowing into Vietnam, matching consumers’ “thirst” for cars. Honda dealers sign contracts with customers and agree to handover … [Read more...] about Will Toyota drop prices to take on imported competition?
Bamboo Airways to try new model in high-stakes local aviation market In late April, Vietnamese real estate, investment, and business service conglomerate FLC Group and its unit Bamboo Airways officially made their debut with a brand identity pack. The step is one part of the airline’s preparations for its historical step to turn the dream into a reality. It is now completing necessary legal procedures to get a licence. Bamboo Airways plans to base its business model on medium-level prices and routes to newly emerging tourism destinations to compete with national carrier Vietnam Airlines and the budget airline Vietjet. The newcomer plans to run a ‘hybrid’ business model, between traditional and low-cost airlines. It will provide services of both these models. Its ticket prices are also an average of the two models. However, it may not be easy for Bamboo Airways to compete with Vietjet, which has its image imprinted in Vietnamese people’s minds with its cheap … [Read more...] about Bamboo Airways to try new model in high stakes local aviation market
Vietnam imports 523 cars from Thailand in a week, while the price of imported Honda cars is also increasing. The price of these cars increased by $220, despite tariffs having just been removed According to statistics from the General Department of Vietnam Customs, a total of 651 completely built-up (CBU) cars have been declared for customs between March 29 and April 5 with the total value of $18.7 million. This is a decline in number in comparison to the 986 cars worth $2.1 million during the previous week. Almost all cars imported in the first week of April have less than nine seats. Specifically, as many as 602 cars with less than nine seats were imported, higher than the 481 units worth $156 million imported during the previous week. They arrived at Haiphong and Ho Chi Minh City ports, with 523 cars being imported from Thailand, 52 from Mexico, 23 from Germany, and 2 each from Japan and the US. There was only one CBU car with more than nine seats imported from China with … [Read more...] about Cars prices defy expectations by rising