VNBusinessNews - Despite the gloomy car market, Daewoo Vietnam carmaker (Vidamco) yesterday launched two new models named Chevrolet Captiva with the VCDi 16V diesel engine and Chevrolet Spark 1.0 Super.
The selling price of Chevrolet Captiva is about US$35,000 and that of Chevrolet Spark 1.0 Super is US$15,700 per unit.
Source: http://www.vnbusinessnews.com/2009/02/vidamco-launches-two-new-car-models.html
VNBusinessNews - The retail prices of cars have decreased by 5% on average, and at most by 11%, but the reductions are just considered a small flame, too miniscule to heat up the cold car market.
“If the car price reductions had been announced in early 2008, my friends and I would have rushed to purchase cars for ourselves. However, the decrease of just one or two thousand dollars for a medium-class car now is not attractive enough to lure us to car salons,” said Thuy, the owner of a gas shop chain which has shops in Thanh Xuan, Cau Giay and Dong Da districts in Hanoi.
Thuy added that she needs to spend money on many other things which are more urgent and more important – a car is a luxury item in the current difficult period.
Other people share the same view as Thuy, saying that a car is not a luxury item in that it is a means of transport, but it is really a luxury item in the context of the current economic difficulties.
“If I had VND500mil now in my pocket, which is enough to buy a car, I would think of making the sum of money produce more money, which I believe is more important than purchasing a car,” Trong Nam, a securities investor, said.
Meanwhile, analysts believe that people are indifferent to cars because the price decreases offered by automobile manufacturers are not attractive.
They say that car prices in Viet Nam remain much higher than in many other countries, and remain high in comparison with people’s average incomes. Therefore, the modest car price decreases, equal to the tax decreases, prove to be unattractive.
Meanwhile, analysts have advised automobile manufacturers to take full advantage of the tax decrease to slash retail prices, which they believe will help boost demand.
In fact, several automobile manufacturers have done this. Mercedes Benz Vietnam is an example. While most manufacturers have offered price decreases of 4.6-5% on average in accordance with the tax rate decreases, Mercedes has offered price decreases of up to 6-7%.
Meanwhile, Truong Hai (Kia) has also offered price reductions higher than the average decreases, at 5-11%.
Analysts also said that the automobile industry needs to do more than it has done to lure people to the market. (TBKTVN)
Source: http://www.vnbusinessnews.com/2009/02/car-price-reductions-just-small-flame.html
VNBusinessNews - Cuts to import tariffs on automotive parts and accessories have been flagged in a bid to rev up the ailing automobile industry.
The Ministry of Finance said it was considering cutting import tax on engines from 22% to 20%, engine parts from 20 to 15%, transmission boxes from 23 to 20%, transmission box parts from 15 to 10%, and clutches from 25 to 20%.
Industry insiders believed the cuts would help local auto makers to overcome one of the most difficult times in their 20-year history.
They would also help cut retail prices and thus trigger demand, which is the lowest in decades.
Tight credit and the global economic downturn, now entering its 14th month, are keeping customers away from dealerships and preventing potential buyers from getting the vehicle they want.
Carmakers last month responded to one of slowest ever sales months with aggressive incentives meant to lure buyers back into showrooms — but to no avail.
All suffered declining sales, totalling just 3,852 vehicles on the month, a plunge of 68 per cent compared to January last year, the Viet Nam Automobile Manufacturers Association said.
This is the fifth consecutive months of decline since August last year.
Commercial vehicles saw the biggest slump last month with sales down 84 per cent to 1,239 units in January, followed by passenger cars down 40 per cent to 1,258 units. The SUV/MPV segment also saw sales drop 38 per cent during the month to 1,355 units.
Toyota and Honda in late January became the first automakers in Viet Nam to cut retail prices following the reduction in the value-added tax from 10% to 5%, effective this month, bringing retail prices down by 4.4-4.6%, depending on models.
Domestic Kia assembler Truong Hai made some of the deepest cuts of all, dropping prices by 4.2 to 10.7%.
In terms of dollars, Ford cut prices US$1,200-$2,500 while luxury marque Mercedes-Benz lowered prices from $2,000 to $10,000. (VNS)
Source: http://www.vnbusinessnews.com/2009/02/tariff-cut-weighed-to-float-car-makers.html
VNBusinessNews - Mercedes-Benz Vietnam, MBV, is set to launch the new Sprinter Panel Van, a cargo carrier of the Sprinter family with great success in Europe, on the Vietnamese market from today via its Autohaus dealers.
Udo Loersch, MBV General Director, said that the Sprinter continues to be the most popular cargo vehicle with 1,140 units sold in 2008. “This year, we would like to add the new Sprinter Panel Van at an affordable price to further satisfy diversifying transportation demand,” Loersch said. “I believe that this market segment has substantial potential.”
Targeted customers of the new Panel Van are cargo transporters, supermarkets, electronic appliance centres, hotels (outside catering), postal companies, banks and hospitals.
Eight cubic meters of goods can be transported by the van at a time - Photos: Courtesy of MBV
These customers need higher-quality vans with generous storage, safety, high performance, fuel efficiency and reasonable prices, all of which are available in the Sprinter Panel Van.
Convenience: transporting eight cubic meters of goods round the clock
The vehicle retains its traditional Sprinter exterior while the cargo compartment has a loading capacity of over eight cubic meters with removable wood panels for efficient packing and added protection of the cargo and the interior body work.
With double-wing rear wall doors that open 270 degrees, loading and unloading become an easy job.
The vehicle features advanced equipment rarely found in commercial vehicles including CD/MP3 player, front air-conditioning, anti-lock braking system (ABS), driver airbag and Acceleration-skid Regulation (ASR).
The state-of-the-art 2.2 litre CDI diesel engine gives a smooth and powerful performance with its 109 horsepower and 270Nm torque yet remains fuel efficient.
One of the noticeable conveniences is that this type of van can operate in inner-city areas round the clock as it is not affected by the regulations that restrict truck traffic on the inner-city streets.
Mercedes-Benz Vietnam is offering the Sprinter Panel Van at an attractive price of US$30,690, including value-added tax.
Successful in passenger van segment
Targeting the hospitality and tourism industries, Mercedes-Benz Vietnam also takes the occasion to launch the new 16-seat Sprinter mini-bus in black, a classy image for hotels and resorts to transport guests, and with leather seats.
Last year was most successful for Sprinter vehicles with 166,000 units sold worldwide. In recent years, Mercedes-Benz Commercial vehicles have won prizes in Europe. “The most popular brand in Germany” in 2008 was voted by readers of Verkehrs-Rundschau magazine. Mercedes-Benz vehicles, including Sprinter, achieved 5 top positions in the ETM Verlag’s readers’ poll for “The best commercial vehicles.”
Since the VAT on automobiles was halved from 10% to 5% early this month, MBV has reduced the prices of various types of vehicle by between US$2,000 and US$10,000 per unit.
“We want to bring benefits to customers at the highest level whenever possible,” said Loersch. “This is why we have made a new price list even more attractive than the reduction of the VAT.”
The Government also plans to cut taxes on imported car accessories and components.
MBV is confident about its wide selection and competitive prices and is building a new assembly line for one of its newest SUV models.
While February may herald a glimmer hope for automakers, January was a headache. The Vietnam Automobile Manufacturers Association reported that in January its 16 members sold 3,800 vehicles, down 68% year on year.
Toyota Vietnam sold over 1,000 units in January, 27.5% of the industry’s total, but this was down 42% year-on-year. In order of sales volume last month, GM Daewoo came first with 511 units sold, 13.3% of the total, followed by Vinamotor with 373 units, Truong Hai with 354 units, Ford Vietnam with 350 units, Vinaxuki with 309 units, Honda Viet Nam with 305 units and Mercedes-Benz Vietnam with 132 units. (SGT)
Source: http://www.vnbusinessnews.com/2009/02/mercedes-introduces-new-sprinter-panel.html
VNBusinessNews - Carmaker Toyota Vietnam (TMV) has launched the new SUV multiuse sport sedan model Fortuner, marking the second among a series of Toyota Group's globally multiuse car models being introduced in the Viet Nam market.
Fortuner includes two versions of Fortuner G 2.5L 4x2 with diesel engine and floorboard and Fortuner V 2.7L 4x4 with gasoline engine and auto board.
The retail of Fortuner V 2.7L 4x4 (Fortuner V 2.7 AT) is US$41,000 per unit while that of Fortuner G 2.5 MT is US$34,300 per unit.
The car firm expects to reach the average sale of this model at 150 units a month.
Source: http://www.vnbusinessnews.com/2009/02/toyota-vietnam-launches-suv-multiuse.html
The Alfa Romeo 159 is among the latest James Bond sportscars, as featured in the 2008 Bond film Quantum of Solace. This one, however, isn’t driven by 007– but a chase scene rival pitted against Bond’s Aston Martin. During the production of the film, the set was closed down due to a third and terrible accident where a stuntman driving the 159 crashed into a wall. The stuntman was airlifted to a nearby hospital where he lay in a coma for days– the same hospital in which he was treated for injuries in shooting the same scene days prior. If you perform your own stunts and want a piece of the Bond villainy action, you can get your hands on an Alfa Romeo 159 for around $33k before import costs…
In 1971’s Diamonds Are Forever, 007 took to the streets of Las Vegas in a Ford Mustang Mach-1– in hot pursuit of the Las Vegas Police. Diamonds was Sean Connery’s last film, but also the first film in history to feature the now-famous “two-wheeled stunt”, where a car is lifted off the ground, balancing on two wheels on one side of the car. The ‘71 Mach-1 featured plenty of muscle in its 429hp V8 option, which will fetch you around $25,000 well-restored on today’s market.
Bond’s Aston Martin finally got itself a facelift. Like the BMW Z8, the Aston Martin DBS was featured in a Bond film before it hit the public. This $265,000 Aston Martin features a 6.0L V12 pushing 510 horses to hit 62mph in 4.3 seconds. The DBS was pitted against that Alpha Romeo 159 above, and this one didn’t escape without bruises either. During filming, a stuntdriver reportedly lost control of the Aston Martin– which wound up in Lake Garda in Italy…
Produced between 1967 and 1970, the Toyota 2000GT was built in very limited numbers, designed to show that Japanese autos could compete with the sportscars of Europe. Apparently James Bond took notice, as the 2000GT was famously featured in 1967’s You Only Live Twice. However, Bond’s 2000GT had a slight problem– Sean Connery was too tall to fit in the Toyota, so a convertible version was made to compensate. While the original 2000GT sold in the U.S. for $6,800, it can be found at auction today for as high as $200,000.
In 1977’s The Spy Who Loved Me featuring Roger Moore, the Lotus Esprit became one of Q’s most impressive sportscar mods. In a long chase scene between 007 and the infamous Bond-villain Jaws, Bond’s Lotus Esprit makes a cunning escape by transforming into a fully-diveable submarine. While a submersible version featuring that bikini blonde above are not available today, a similar Lotus Esprit could be originally purchased for around $16,800 at the dealer in 1977.
Last but certainly not least– the original Bond-mobile, the 1963 Aston Martin DB5. In the 1964 film Goldfinger, 007 was provided with a weaponized DB5 by Q Branch himself. Aston Martin, however, wasn’t so keen on the deal. After much negotiating, Aston Martin finally agreed to a product placement deal that made automotive history for the brand. The DB5 was the latest-and-greatest sportscar to be produced in the UK, initially selling for $13,000. Its inline six engine produced 282hp to hit 62mph in 8.1 seconds. Bond’s version, however, was outfitted with an array of gadgets from smokescreens to heavy machine guns. Its not the weaponry that makes the Aston Martin DB5 a legend– it is its design which symbolizes the class and cool that has made James Bond the legend he is today. If there is one car that fully explains what StyleCrave is about, you’re looking at it, front and center.
The Alfa Romeo 159 is among the latest James Bond sportscars, as featured in the 2008 Bond film Quantum of Solace. This one, however, isn’t driven by 007– but a chase scene rival pitted against Bond’s Aston Martin. During the production of the film, the set was closed down due to a third and terrible accident where a stuntman driving the 159 crashed into a wall. The stuntman was airlifted to a nearby hospital where he lay in a coma for days– the same hospital in which he was treated for injuries in shooting the same scene days prior. If you perform your own stunts and want a piece of the Bond villainy action, you can get your hands on an Alfa Romeo 159 for around $33k before import costs…In 1971’s Diamonds Are Forever, 007 took to the streets of Las Vegas in a Ford Mustang Mach-1– in hot pursuit of the Las Vegas Police. Diamonds was Sean Connery’s last film, but also the first film in history to feature the now-famous “two-wheeled stunt”, where a car is lifted off the ground, balancing on two wheels on one side of the car. The ‘71 Mach-1 featured plenty of muscle in its 429hp V8 option, which will fetch you around $25,000 well-restored on today’s market.Bond’s Aston Martin finally got itself a facelift. Like the BMW Z8, the Aston Martin DBS was featured in a Bond film before it hit the public. This $265,000 Aston Martin features a 6.0L V12 pushing 510 horses to hit 62mph in 4.3 seconds. The DBS was pitted against that Alpha Romeo 159 above, and this one didn’t escape without bruises either. During filming, a stuntdriver reportedly lost control of the Aston Martin– which wound up in Lake Garda in Italy…Produced between 1967 and 1970, the Toyota 2000GT was built in very limited numbers, designed to show that Japanese autos could compete with the sportscars of Europe. Apparently James Bond took notice, as the 2000GT was famously featured in 1967’s You Only Live Twice. However, Bond’s 2000GT had a slight problem– Sean Connery was too tall to fit in the Toyota, so a convertible version was made to compensate. While the original 2000GT sold in the U.S. for $6,800, it can be found at auction today for as high as $200,000.In 1977’s The Spy Who Loved Me featuring Roger Moore, the Lotus Esprit became one of Q’s most impressive sportscar mods. In a long chase scene between 007 and the infamous Bond-villain Jaws, Bond’s Lotus Esprit makes a cunning escape by transforming into a fully-diveable submarine. While a submersible version featuring that bikini blonde above are not available today, a similar Lotus Esprit could be originally purchased for around $16,800 at the dealer in 1977.Last but certainly not least– the original Bond-mobile, the 1963 Aston Martin DB5. In the 1964 film Goldfinger, 007 was provided with a weaponized DB5 by Q Branch himself. Aston Martin, however, wasn’t so keen on the deal. After much negotiating, Aston Martin finally agreed to a product placement deal that made automotive history for the brand. The DB5 was the latest-and-greatest sportscar to be produced in the UK, initially selling for $13,000. Its inline six engine produced 282hp to hit 62mph in 8.1 seconds. Bond’s version, however, was outfitted with an array of gadgets from smokescreens to heavy machine guns. Its not the weaponry that makes the Aston Martin DB5 a legend– it is its design which symbolizes the class and cool that has made James Bond the legend he is today. If there is one car that fully explains what StyleCrave is about, you’re looking at it, front and center.
Aston Martin: A long association between 007 and the marque began on screen with the silver DB5 that appears in 1964’s GoldFinger. Although Bonds company car was replaced by a BMW for a bit, the Aston Martin made a strong return in Casino Royale and now the new DBS can be seen in the upcoming “Quantum of Solace.”
Station Wagon: Remember the days before SUV’s and Cross-Overs where in every driveway? Station wagons were coined with the term “Grocery Getter”, but what really put this car on the map was it’s amazing ability to fly 100 feet through the air while seating 7 comfortably in the 1983 classic “Vacation!”
Mini Cooper: Although the original Mini Cooper has a loyal fan base, the new Mini has really taken off in America with its appearance in the modern day iteration of the classic “The Italian Job”
Shelby Mustang: Ok, so Touchstone’s 2000 movie “Gone in 60 Seconds” made this car popular to the masses, not the 1974 Movie. Why? Because the 1974 movie did not sport a Shelby or Angelina Jolie. Unfortunately, Ford is spitting out Shelby Mustangs like horny rabbits and completely killing the elite-ness of what a Shelby Mustang truly is.
Dodge Challenger: Dodges Pony Car stormed on the scene in 1971 in the cult classic “Vanishing Point”. Delivery driver Kowalski had made a wager to deliver the car from Colorado to San Francisco in 15 hours which set the stage for one of the most intense car chases to hit the big screen.
Nissan Skyline: Although the Skyline made it’s big screen debut in the movie “2 Fast, 2 Furious”, Nissan’s flagship was made popular years earlier in Sony’s mega selling video game “Gran Tourismo” which is very much responsible for today’s “Now Sold in America” Nissan GT-R.
Dodge Charger: One of the most recognizable cars of all time finally made it’s big screen debut in the movie version of the popular television series “The Dukes Of Hazzard”. The Charger did make an appearance in the movie Bullitt, but was over shadowed by the next car on the list.
Mustang: Wow, Steve McQueen put Ford on the map when performance was all the rage in 1960’s America. The 1967 Mustang used in “Bullitt” was the first year ford used the “Big Block” in their pony car. Sporting 390 cubic inches, the Mustang was put to the test in one of the most memorable car chases in movie history. In 2001, Ford began production of the “Bullitt Mustang” for sale in the US in memory of the McQueen classic and even used movie clips to help promote the sales.
DeLorean: Made popular in the movie “Back To The Future”, this stainless steel, no paint needed car was not what it seemed. With it’s 170hp, getting the DeLorean to that 88mph mark needed to travel through time would definitely require a flux capacitor or at least a mile of real estate . Contrary to popular belief, the Gull Wing doors would not help the car fly.
Aston Martin: A long association between 007 and the marque began on screen with the silver DB5 that appears in 1964’s GoldFinger. Although Bonds company car was replaced by a BMW for a bit, the Aston Martin made a strong return in Casino Royale and now the new DBS can be seen in the upcoming “Quantum of Solace.”Station Wagon: Remember the days before SUV’s and Cross-Overs where in every driveway? Station wagons were coined with the term “Grocery Getter”, but what really put this car on the map was it’s amazing ability to fly 100 feet through the air while seating 7 comfortably in the 1983 classic “Vacation!”Mini Cooper: Although the original Mini Cooper has a loyal fan base, the new Mini has really taken off in America with its appearance in the modern day iteration of the classic “The Italian Job”Shelby Mustang: Ok, so Touchstone’s 2000 movie “Gone in 60 Seconds” made this car popular to the masses, not the 1974 Movie. Why? Because the 1974 movie did not sport a Shelby or Angelina Jolie. Unfortunately, Ford is spitting out Shelby Mustangs like horny rabbits and completely killing the elite-ness of what a Shelby Mustang truly is.Dodge Challenger: Dodges Pony Car stormed on the scene in 1971 in the cult classic “Vanishing Point”. Delivery driver Kowalski had made a wager to deliver the car from Colorado to San Francisco in 15 hours which set the stage for one of the most intense car chases to hit the big screen.Nissan Skyline: Although the Skyline made it’s big screen debut in the movie “2 Fast, 2 Furious”, Nissan’s flagship was made popular years earlier in Sony’s mega selling video game “Gran Tourismo” which is very much responsible for today’s “Now Sold in America” Nissan GT-R.Dodge Charger: One of the most recognizable cars of all time finally made it’s big screen debut in the movie version of the popular television series “The Dukes Of Hazzard”. The Charger did make an appearance in the movie Bullitt, but was over shadowed by the next car on the list.Mustang: Wow, Steve McQueen put Ford on the map when performance was all the rage in 1960’s America. The 1967 Mustang used in “Bullitt” was the first year ford used the “Big Block” in their pony car. Sporting 390 cubic inches, the Mustang was put to the test in one of the most memorable car chases in movie history. In 2001, Ford began production of the “Bullitt Mustang” for sale in the US in memory of the McQueen classic and even used movie clips to help promote the sales.DeLorean: Made popular in the movie “Back To The Future”, this stainless steel, no paint needed car was not what it seemed. With it’s 170hp, getting the DeLorean to that 88mph mark needed to travel through time would definitely require a flux capacitor or at least a mile of real estate . Contrary to popular belief, the Gull Wing doors would not help the car fly.
