Carmakers Race to Cut Prices

摘要

This is a good signal since selling prices of automobiles in Vietnam are reportedly much higher than regional and global rates. However, the price cut will not be able to revive the market immediately. The price reduction comes after the Vietnamese Government decided to reduce the value-added tax (VAT) on automobiles from 10 per cent to 5 per cent, effective from February to the end of December 2009. Usually, auto companies lower their selling prices by more than 4 per cent on all models.