That has gone beyond the number of 36 million vehicles that the infrastructure system was originally expected to serve in the year 2020. According to the Ministry of Industry and Trade, more than 45 million vehicles are crowding Vietnamese roads. Meanwhile, nearly 136,000 cars were sold over the same period, or nearly 750 every day. But sales of small cars in upcoming months may benefit from lower tax rates, not to mention upcoming preferential tariffs for cars from regional countries. Industry insiders believe many people have been buying cars to avoid higher luxury taxes on large cars, which came into effect on July 1.

Source: Thanhnien News July 12, 2016 09:00 UTC