When the state ownership ratio diminishes, Toyota’s rivals will likely acquire VEAM stocks, creating a conflict of interest with the Japanese automaker.
Viet Nam Engine and Agricultural Machinery Corporation, one of the largest companies in the field of engineering, machinery manufacturing, truck assembly and manufacturing has attained strong profits, mainly attributed to successes of its joint ventures with Honda, Toyota and Ford car makers.
After a long time lagging behind Thaco, Toyota has been accelerating its sales on the market for several months and officially surpassed the domestic assembler to reach a 30 per cent of market share in October 2018.
Toyota's market share rose to nearly 25 percent in August after ranging around only 21 percent for months.
The total number of imported automobiles handed over to customers reduced by up to 45 per cent in the first seven months of this year, compared to the same period of last year.
The Government Office has sent a document asking for seven ministries’ opinions on the settlement of problems in the lease of land for the expansion of Toyota’s project in Vinh Phuc province.
In spite of overcoming tightened harness straps of pollution emission and customs inspection specified in Decree No. 116, the number of duty-free cars imported from ASEAN remains still very limited, causing Vietnamese buyers unable to buy low-cost car in this month as expected.
Truong Hai Automobile, a local automobile manufacturer, continued to lead the Vietnam automobile market in April 2018 with its sales being over twice the figure for Toyota Vietnam.
According to a representative of Toyota Vietnam, its first batch of duty-free cars could not reach Vietnam until this June.
The Government’s Decree No. 116/2017/ND-CP which came in full force and effect on January 01, 2018, is viewed as a “new barrier" to protect domestic automobile industry from the automobiles imported from ASEAN entitled to a zero per cent tariff, according to automobile importers and exporters.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
Editor-in-Chief: Nguyen Cao Cuong
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