Toyota Vietnam, the largest automaker in Vietnam, continues putting pressures on its rivals in the country by introducing its big and long sales promotion program after it slashed prices for its popular car models.
The Japanese carmaker will present auto accessories, worth US$900-1,100, to new buyers from February 15 to April 30. “The promotion program will help our company expand the market share in the coming time,” a corporate official said.
Toyota reportedly sold 811 automobiles in January of 2006, up 11.4 per cent on year, and held 53.5 per cent of the market share. In early February, Toyota was the first carmaker in Vietnam to reduce prices of its popular products, aiming to increase market share and cope with the upcoming wave of imported secondhand cars.
Following Toyota price cuts, major rivals Ford and GM-Daewoo also decreased prices for their cars.
Toyota is fully capable of competing with imported vehicles, which will officially be imported into Vietnam from May, the official said.
Since the government allowed local traders to import used cars to sell in the country, potential domestic customers have delayed purchasing decisions in an expectation to have cars at lower prices.
The new policy drove total car sales of 11 operational foreign-invested joint ventures down 36 per cent to 1,517 units in the first month of this year.
“Against the wind, Toyota cars are selling very well in Vietnam”, he said. “Customers must place orders to buy newly-introduced Innova seven-seat crossover vehicles.”
According to a close source, Toyota is a unique foreign-led carmaker in Vietnam as it plans to expand of its factory here.
On the contrary, Isuzu had all its factory workers off work because it cannot sell in-stock cars, local media said.
Experts said the car market in the Southeast nation will become further heated when three other joint ventures, including Japan’s Honda, Taiwan’s VMEP and Malaysia’s JRD, begin operations.
VietNamNet
Vietnamese
