The Ministry of Finance has officially asked the Government to cut 50 percent of the registration fee for customers who buy locally-produced and assembled automobiles.
The Government’s decision to offer a zero-import tax rate on automobile components opens significant opportunities for the local industry to lower prices, enhance competitiveness and promote consumption.
Automotive manufacturers in Indonesia are ready to resume production in June following the government’s enforcement of the “new normal” scenario, said Chairman of the Association of Indonesian Automotive Manufacturers (Gaikindo) Yohannes Nangoi.
PT Astra International, one of the leading automobile manufacturers in Indonesia, is looking to adopt new survival strategies, including cutting operational costs and increasing its digital presence, in the face of slumping vehicle demand worsened by the COVID-19 pandemic.
The Vietnam Automobile Manufacturers’ Association (VAMA) recently announced that its members’ March sale was 19,154 units, 8 percent higher than the figure recorded in February.
Toyota Vietnam and Honda Vietnam posted the best car sales in March among members of the Vietnam Automobile Manufacturers Associations (VAMA) though both reported year-on-year drops in this regard.
TC Motor has said that it will halt vehicle production in the northern province of Ninh Binh from April 1 to 15 over concerns of the COVID-19 pandemic.
Vietnam Automobile Manufacturers’ Association (VAMA) has proposed the Government reduce value-added tax (VAT) and registration fees for car customers by 50 percent, reports vietnamnet.vn.
The spread of the COVID-19 pandemic in almost all countries and territories worldwide is likely to force automobile manufacturing and assembly firms in Vietnam to scale down operations and even close their factories.
President of the State Parliament of Lower Saxony (Niedersachsen) of Germany Gabriele Andretta recently expressed her hope of fostering cooperation with Vietnam in vocational training as the state has huge demand for skilled workers.
Over 15,700 automobiles of various models were sold in Vietnam in January, down 52 percent monthly, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
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.
Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.
Hopes of a big rise in car sales in October thanks to a steep drop in prices and the rollout of new models have been dashed, spreading more gloom about the sector’s health.
The 2019 Vietnam Motor Show opened in Ho Chi Minh City on October 23, showcasing the latest models and advanced technologies from 15 Vietnamese and foreign auto brands.
Competition in the automobile sector on the domestic market is fierce, not only in the production of local enterprises, but also the significant imports of cars in the first nine months of this year.
The Vietnam Motor Show 2019 (VMS 2019), to be held in Ho Chi Minh City from October 23 to 27, will be a get-together of 15 renowned automobile brands and hundreds of others in the automobile support industry, according to organisers.
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