HANOI: Vietnam’s import tax on complete built-up units from ASEAN was reduced to zero percent as from Jan. 1 this year under the ASEAN Free Trade Agreement. The accord helps reduce the prices of imported cars, meeting consumers’ aspiration.
More than 2,000 Honda cars from Thailand the first cars enjoying zero percent import duty under the ASEAN Free Trade Agreement have arrived at Ho Chi Minh City’s Hiep Phuoc Port.
After the first batch of cars arrived in Vietnam, Honda Vietnam announced that the retailed prices for each car will be reduced up to nearly 9,000 USD, depending on the model.
Following the move, the market has experienced a surge in the number of people who have registered to buy imported cars.
“Since the new price announcement, we have recorded a surge in CRV- orders, there are about 15 new orders each day,” said Phan Thanh Trung, Customer Director of Honda Vietnam’s Phuoc Thanh Branch in Ho Chi Minh City.
Besides Honda, other big names such as Ford and Toyota are planning to import other car models from ASEAN countries, mostly from Thailand and Indonesia.
