Increased Taxes And Economic Pressure Make For Another Tough Year For Carmakers

BMI has long held the view that Vietnam's new vehicle market is characterised by fluctuating tariffs, which makes it difficult to recognise patterns in sales and project future movement. This has been further underlined by an increase in the country's car ownership registration tax and licence plate registration fee from January 1 2012, which will create difficult conditions for carmakers to bounce back from a 2% year-on-year (y-o-y) decline in sales in

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