Tax Change Boosts Passenger Car Sales

Vietnam's new vehicle sales rose by 31% year-on-year (y-o-y) in August, but a change in tax policy boosted sales of five-seat passenger cars by 50% compared to August 2008. After a new tax structure was introduced based on the size of vehicles, sales of five-seat cars rose from an average of 2,200 per month in H109, to over 3,000 in July and August. Total vehicle sales in August reached 10,555 units, as sales in the SUV/MPV segment fell 2%. From April 1, the purchase tax on vehicles with six to nine seats rose from 5% to 10-15%.

To read the full article, please choose one of the following options: