The new Vietnamese car maker VinFast has just announced privileges for its three models of cars, namely hatchback Fadil, sedan Lux A 2.0 and SUV Lux SA 2.0, which have preferential prices at $14,800, $35,200 and $50,000 each respectively.
The Decree No. 116 leading to a continuous downward trend for import cars has created opportunities for brands like Nissan, Mazda or Kia to increase their prices as consumers preferences change to locally assembled car.
Besides returning to Vietnam’s market through its exclusive distributor, Ssangyong Motor Company also plans to assemble cars in Vietnam for the purposes of lowering prices and increasing competitiveness vis-à-vis CBU (completely built-up) cars imported from ASEAN countries.
The auto market in Viet Nam is becoming more competitive when car firms drop prices to promote consumption in the context of ASEAN’s new tariff cut and the government’s tax policy changes.
