Most of car imports are from Thailand and Indonesia, at an average price range of VND350 million ($15,000) to VND 1.2 billion.Experts have said that the scale of manufacturing, tax exemptions and affordable auto models are elements that have allowed these nations to acquire large market shares in Vietnam.A Vietnam Customs report notes that auto imports had fallen 24.5 percent to 105,200 units last year as the Covid-19 pandemic slashed demand and forced dealers to stop working for weeks in April.Industry insiders say it is still early to forecast this year’s performance by Vietnam’s auto industry because the Covid-19 situation has become increasingly unpredictable. … [Read more...] about January auto imports surge 85 pct
The subsidiary of Vietnam’s largest private conglomerate, Vingroup, was one of 57 auto companies allowed to test self-driving vehicles with a driver along with Apple, Tesla, BMW, and Volkswagen, according to the state Department of Motor Vehicles website.An auto company needs to acquire testing permits with and without a driver each before it can receive permit for deployment in the state.VinFast last month unveiled three new self-driving electric SUVs saying they all meet the highest global safety standards including five-star ratings from the U.S. National Highway Traffic Safety Administration and the European New Car Assessment Programme.Customers can start ordering the cars in May this year in Vietnam and in November in the U.S., Canada and the E.U.VinFast sold 31,500 cars in Vietnam last year, with its VinFast sedan and SUV models among the bestsellers in their respective segments.The company entered the auto industry three years ago. It has an auto plant in the northern … [Read more...] about VinFast licensed to test autonomous cars in US
Honda Vietnam sells 254,479 motorbikes in January. (Photo: VNA) Hanoi (VNA) - Honda Vietnam reported year-on-year surges of 4 percent and 57.4 percent in the sales of motorbikes and automobiles in January. It sold 254,479 motorbikes in the month, with Wave-Alpha being the best-selling model with 42,553 units sold or 16.7 percent of the total. Meanwhile, Vision was the most popular scooter with 57,836 units sold, or 22.7 percent. In the month, the joint venture handed over 3,015 automobiles for its customers, up 57.4 percent from the same time last year. Honda City was the hottest model with 1,579 units delivered in the month, accounting for 52.4 percent of the total sales./. VNA … [Read more...] about Honda Vietnam’s motorbike, auto sales surge in January
A vessel arriving at Chu Lai Port (Photo: VNA) Hanoi (VNA) – Chu Lai Port in the Chu Lai Open Economic Zone, the central province of Quang Nam , is striving to establish itself as a major point of transit for goods in not only Vietnam but also other countries. Recently, 7,200 tonnes of paper pulp of the Sun Paper Savannakhet, a company based in the Lao province of Savannakhet, were exported to China via Chu Lai Port. The batch was transported from Savannakhet to Chu Lai Port by road and then to China by sea. The Lao firm produces 400,000 tonnes of recycled pulp annually to supply packaging paper factories of the Shandong Sun Paper Industry in China. Highly valuing the infrastructure, equipment and shipping routes in Chu Lai, the business chose this port to deliver pulp to China. Sun Paper Savannakhet said it plans to ship about 180,000 tonnes of paper pulp via Chu Lai Port in 2021, equivalent to a monthly average of 15,000 tonnes. The port investor, Truong Hai … [Read more...] about Chu Lai Port seeks to serve international flow of goods
City Auto, a Ford and Hyundai dealership, and Vietnam’s largest car dealership Savico reported sharply lower revenues, but Haxaco, the Mercedes-Benz distributor, said profits rose by 150 percent. City Auto said sales were down by 11 percent to VND5.67 trillion ($246.73 million) and post-tax profits by 96 percent to VND2 billion, a five-year low. Savico, which distributes Toyota, Volvo, Honda, and Mitsubishi, reported a 12 percent fall in revenues to VND16.13 trillion. Both companies also attributed the fall in revenues to intense competition, which forced them to cut prices. But Haxaco reported profits of VND125 billion on revenues of VND5.57 trillion. Its CEO, Do Tien Dung, said the company had a successful 2020 despite Covid owing to its strategies to expand market share and the cut in first-time car registration fees by half. Auto sales fell by 8 percent, with passenger car sales decreasing by 7 percent in 2020, according to the Vietnam Automobile Manufacturers … [Read more...] about How did leading car dealerships do in the year of Covid?