Opposite to expectations of buyers, car prices don't decrease in early 2018.
Opposite to expectations of buyers, car prices don’t decrease in early 2018.
In early 2017, many kinds of cars lowered their prices with a lot of promotions but purchase power was still low because buyers were waiting the import tax decrease policy. However, in early 2018, though tax on cars imported from ASEAN countries has reduced to 0%, car prices are not lower, but may be higher.
Looking for a car at a showroom in 23-10 Street, Nguyen Duc Anh, living in Nha Trang, said, “Last year, I wanted to buy a car but I didn’t buy it because I expected a deeper decrease in price. But, these days, car prices don’t go down any more but go up.” Honda CR-V, the car he was going to buy is priced at over VND1 billion while it sold at only VND929 million in October, 2017.
According to car traders in Nha Trang, car prices don’t go down any more because so far this year, no cars can be imported into the country. Imported cars are scare and their prices are high. Impossible to buy imports, many chose locally-made cars, which has made their prices also increase.
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According to Nguyen Huu Phuoc, director of VW Nha Trang Co., Ltd., demand for cars to travel on Tet is rising, but my company runs out of some kinds of cars. Car prices are currently high and have no more promotions.
According to Le Nguyen Bao Anh, sales manager of Honda Nha Trang, in about 15 first days of 2018, 50 cars were sold out. Many customers have orders and will receive their cars in February.
Nguyen Hung Son, director of Thaco Khanh Hoa, also said that demand for traveling on Tet is very high, therefore purchase power has risen sharply. In two first weeks of 2018, Thaco Khanh Hoa signed contracts to sell 150 cars.
Mai Hoang
Translated by T.T
