Gov't policy gives auto industry much-needed boost More than half a billion dollars in tax returns have been awarded to firms since 2017 in a bid by the Government to boost the country's auto industry and supporting industry, according to deputy director of the General Department of Vietnam Customs Lưu Mạnh Tưởng. 

Gov’t support aids automobile industry VDSC pointed out that the domestic automobile industry was benefiting from three policies.

Car dealers offer huge discounts in time of hardship

Car dealers are offering huge incentives for customers to promote sales as the economic impacts from the pandemic persist and the lunar month of July is around the corner.

Automobile sales down in first seven months Sales of automobiles plunged 28 per cent year-on-year to 131,248 units in the first seven months of this year, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Auto firms urged to have suitable business plans amid COVID-19 With the new COVID-19 outbreak, automobile firms are expected to face new difficulties.

Policies encourage automakers to assemble cars in VN Several automakers are considering assembling their best-selling models in Việt Nam due to the Government’s policy of zero import tariffs on components and a 50 per cent reduction in registration fees.

Việt Nam Motor Show cancelled due to COVID-19 The Việt Nam Motor Show 2020, which was set to be held from October 28 to November 1 this year, has been cancelled due to the complex developments of the COVID-19 pandemic.

Motorcycle sales plummet

Members of the Việt Nam Association of Motorcycle Manufacturers (VAMM) sold nearly 519,000 motorcycles in the second quarter this year, a year-on-year decrease of 30.77 per cent.

Automobile market on track for recovery: VAMA

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 24,002 automobiles in June, up 26 per cent compared to the previous month but down 13 per cent year on year.

Auto consumers expected to enjoy 50 per cent cut in registration fee The Ministry of Finance has officially asked the Government to cut 50 per cent of the registration fee for customers who buy locally-produced and assembled automobiles.