Domestic automobile manufacturers have massively reduced car prices right after the Ministry of Finance announced halving VAT on automobile to 5 per cent.
Toyota Vietnam, Ford Vietnam, Euro Auto Joint Stock Co and BMW distributors recently announced reduction in car prices by 4.3 per cent-6.15 per cent.
According to the calculation of carmakers, if VAT is cut 50 per cent, car prices will be lower about 4 per cent.
Toyota Vietnam said their prices of car models declined 4.3 per cent-4.6 per cent. Prices of models such as Camry and Altis were down 4.6 per cent, Vios and Innova down 4.3 per cent-4.5 per cent. Especially, Camry 3.5 price fell US$3,100 per unit, Camry 2.4 was down US$2,400/unit, Corola Altis was down US$1,600-1,700, Innova US$1,200-1,500 per unit, and Vios down US$100-1,300 per unit.
Car prices of Ford Vietnam also discounted over 4 per cent while the price of Everest 4x2 was reduced by US$1,500-US$1,600 per unit, Everest 4x4 dropping US$1,900/unit and Escape was down US$1,700-US$1,900.
At euro Auto, a price cut of 4.55 per cent-6.15 per cent was announced on imported BMW models. Particularly, 320i Business car price was lower US$3,000 per unit, 320i Professional down US$3,600/unit, Z4 plunging 6.15 per cent or US$7,000 and M3 cut 5.88 per cent or US$9,000/unit.
Some car companies are still launching promotional programs due to the high number of cars in their inventory. (Vietnam Economic Times)
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