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Honda Vietnam announces prices of imported cars from Thailand

Released at: 14:17, 05/03/2018

Honda Vietnam announces prices of imported cars from Thailand

Photo: Honda

Auto maker releases recommended retail prices on Thai imports, which are subject to duties of 0%.

by My Van

Honda Vietnam has officially announced the recommended retail price of the first imported cars from Thailand, which are subject to 0 per cent tariffs, on March 5.

Imports include the Jazz, Accord, CR-V, and Civic models. The CR-V 1.5 L is priced at VND1.06 billion ($46,550) (including VAT) and the CR-V 1.5 G VND998 million ($43,835). The Civic 1.5 L is priced at VND898 million ($39,440), the Civic 1.5 G VND826 million ($36,280), the Jazz 1.5 RS VND619 million ($27,190), and the Jazz 1.5 VX VND589 million ($25,870).

Honda Vietnam will officially order these cars through Honda Auto Dealers nationwide from today, March 5, according to Managing Director of Automotive Sales Vietnam Takayuki Uotani, with the expected delivery time being the second quarter of this year.

Earlier, more than 2,000 Honda vehicles from Thailand - the first batch to be subject to 0 per cent import duties under the ASEAN Free Trade Agreement (AFTA) - were imported into Vietnam.

Under AFTA commitments, a 0 per cent tax is applied to motor cars imported from within the bloc and with a localization rate of 40 per cent or more in the country of origin, starting from January 1 this year.

Mr. Takayuki said that to import the vehicles to Vietnam, the company completed procedures to meet the requirements of Decree No. 116 on the conditions for production, assembly, import, warranty, and car maintenance, and the Vehicle Type Approval certificate granted by Thailand’s Department of Land Transport.

Thanks to the tariff cuts, the price of each motor car is expected to fall by more than VND200 million ($8,785). This would be a turning point in Vietnam’s automobile market. A staff member at Honda’s dealership in My Dinh, Hanoi, said the new vehicles will be rolled out in May or early June, as it will take one or two months to complete checks on emissions, quality, and technical safety at ports.

Insiders earlier calculated that with a 0 per cent import tax, the price of imported cars from ASEAN countries to Vietnam would fall by 20-25 per cent.

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