Prices of some automobile models suddenly increase to contradict common trend

In Thaco’s latest announcement, Mazda CX-5 variants – 2.5L 2WD and 2.5L 4WD increased by VND30 million (roughly US$1,323) and VND10 million (roughly US$441) to VND969 million (roughly US$42,734) and VND999 million (roughly US$44,057).

While the prices of Cerato 1.6 AT and Cerato 2.0 AT versions of the Kia Cerato have remained unchanged compared to the selling price in December 2017, the Cerato 1.6 MT version's price has been raised by VND6 million (roughly US$264.6) to VND525 million (roughly US$23,153.25).

According to Thaco, the new price has been adjusted based on the special excise tax for vehicles with a capacity of 2.0 litters or less which is regulated to reduce by five per cent as of early this year. From January 1, 2018, the special excise taxes for vehicles with 1.5-liter or less and 1.5-2.0 liter engine capacity are 35 per cent and 40 per cent, respectively. 

In addition, the price of new seven-seater Honda CR-V is tending to increase by up to hundreds of million dong if buyers want to get the cars before Tet holiday. This makes the price of the crossover version increase to VND1.25 billion (roughly US$55,126.8) compared with the price of VND1.1 billion (roughly US$48,511) signed with customers.

Earlier in December, in the downward trend of most automobile models’ prices since October last year, the price of the Toyota Fortuner was raised by up to hundreds of million dong.

Toyota explained that this was due to the issuance of Decree 116, 2017 ND-CP which had made the import of automobiles more difficult than ever, especially while demand for this model was rising.

As noted by TheLEADER’s reporter, the available automobile models in showrooms of Hyundai, Toyota, and Thaco are mainly locally assembled. There are almost no imported cars.

A salesperson at Toyota's showroom said that it will focus on locally assembled cars, increase localization level of cars and stop importing cars until mid-2018.