Car imports from ASEAN states explode in January, sparking fierce local competitionThe number of cars of nine seats and less imported from Thailand and Indonesia soared in January, sparking fierce competition between importers and local automakers. The drop in import tax is part of the 2016-2018 ASEAN Trade in Goods Agreement. It is expected that by 2018, when the import tax becomes zero per cent, prices will fall a further 20-25 per cent over current levels. Thailand and Indonesia are the only two countries from the ASEAN bloc that exports cars to Viet Nam. Cars imported from the UK and Germany carried average prices of $52,219 and $50,000, respectively, the office said.

Source: VietNamNet News February 15, 2017 03:11 UTC