The high production costs, taxes and fees all make automobile prices in Vietnam much higher than in other countries in the region. At the government’s November regular press conference, the local press raised questions about the tax and fee policies, saying that automobile manufacturers complain about current policies put difficulties for them to compete with imports and increase the localization ratio. Deputy Minister of Industry and Trade Do Thang Hai said the car prices in Vietnam are higher than inother countries because the domestic production cost is higher. The high taxes and fees also push the prices up. VinFast, a 100 percent Vietnamese owned automobile manufacturer, days ago announced the automobile price structure. A VinFast Lux A2.0 standard version has the cost price of VND980.6 million, including VND640 million worth of materials, VND59.2 million worth of shipping fee and import tax, VND54 million worth of manufacturing cost, VND5.9 million worth of … [Read more...] about When will cars in Vietnam be cheaper?
Denver fatal car accident
The Ministry of Industry and Trade (MOIT) has proposed raising luxury tax on some car models with fewer than nine seats. The General Department of Customs (GDC) reported that 96,000 cars had been imported to Vietnam by the end of August, worth $2.1 billion, which represented a 229 percent increase in quantity and 205.6 percent in value in comparison with the same period last year. Of these, the imports from Thailand and Indonesia accounted for more than 70 percent of total imports. Vietnam’s domestically made output is far below that of Thailand and Indonesia, 200,000 products a year vs 2 million and 1.3 million products, respectively. Vietnam also has a lower localization ratio than the two countries, 20 percent vs 60-80 percent and 45-70 percent, respectively. For these reasons, MOIT believes that there should be solutions to develop the domestic automobile industry and help domestic products compete with imports. One of the solutions the ministry has proposed is … [Read more...] about Imported cars to be more expensive as VN raises luxury tax
Tran Le Sy Liem, 23, is still missing while the body of an unnamed 22-year-old female student was retrieved around 50 m from where they went missing. The two victims are among four people who got swept away. The other two, both male students, were rescued by locals. The four were a group of 16 recently graduated students from a university in Ho Chi Minh City visiting the Hon Gam Beach in Van Ninh District, the central province of Khanh Hoa, for a holiday. Local authorities are still searching for Liem. Khanh Hoa has several popular beach destinations, but drowning deaths are not uncommon in its beaches. Three drowned from a boat overturned in Van Phong Bay in June this year and two Russian tourists drowned after swimming into deep waters in the resort town of Nha Trang in February. … [Read more...] about One student drowns, another missing in central Vietnam beach accident
Nguyen Thi Kim Phuong is 42 and she fears what middle age will do to her face. Like many of her friends, she sees cosmetic surgery as a way to extend her youthful looks. Phuong originally planned to undergo a face-lift procedure and nose job at a beauty clinic in Saigon's District 10 next month that would cost her more than VND80 million ($3,438). But she's changed her decision, fearing for her life after a series of plastic surgeries went fatally wrong at private clinics in Vietnam's southern metropolis. "I want to look younger and more beautiful as the Lunar New Year is coming near. But I'm afraid of dying and I don't dare to risk my life," the grocery store owner said. "They (beauty clinic consultant staff) guaranteed that the surgery would be 100 percent successful and advised me to keep an optimistic mind. "But these recent deaths and accidents from plastic surgery in private clinics have really scared me. It seems that going under the plastic surgeon's knife in Vietnam is … [Read more...] about For better or worse: botched plastic surgeries scare Vietnamese women
Members of the Vietnam Automobile Manufacturers' Association sold a combined 29, 846 units in November, up only 3 percent from the previous month. (Illustrative image. Source: VNA) Hanoi (VNA) – Car sales in November failed to meet expectations even though the year-end shopping season has started and despite various discounts of up to hundreds of millions of dong. According to the Vietnam Automobile Manufacturers' Association (VAMA), its members sold a combined 29,846 units in November, up only 3 percent from the previous month but down 3 percent from the same period last year. If sales of TC Motor included, the total number came to 35,638 units. However, some brands such as Audi, Jaguar, Land Rover, Mercedex-Benz, Subaru, Volkswagen, Volvo, and VinFast did not announce their sales. As a result, the above figure did not reflect the actual purchase power in the market. Total sales for the 11-month period added to 289,128 units, up 14 percent on a yearly basis, including … [Read more...] about Promotional campaigns fail to lift automobile sales