The Thai News Service reports that Toyota Vietnam (TMV) has announced significant price reductions on several of its most popular models.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The price cuts contradict a Vietnam Automobile Manufacturers Association (VAMA) announcement last November that suggested retail prices on locally-assembled vehicles would go up this year in accordance with recent tax amendments.
 
Deputy Minister of Industry Do Huu Hao said such price reductions were an inevitable market trend, especially in the prelude to integration into the World Trade Organisation.


According to TMV’s revised price list, the Toyota Zace GL- its best-selling multi-purposed vehicle (MPV)- has a bumper price of US$27,000 (down from $29,800) while the Zace Surf model is now priced $3,000 lower at $29,000. Prices on Corolla Altis and Vios 1.5 G sedans were reduced from $37,300 and $27,800 to $35,500 and $25,500, respectively.


The firm, which last month introduced the competitively-priced Innova MPV, is one of two foreign-invested car makers that last year posted annual sales growth rates of 29%.


US-invested Ford said it would announce price adjustments in the next several days, but was tight-lipped on further details. “We can not give details on prices at this moment- it is a business secret,” said a Ford Vietnam spokeswoman.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Vietnam’s 11 foreign-invested automobile makers last month assembled 2,626 vehicles, down 21% over the corresponding period last year, according to the General Statistics Office. While they sold a total of 35,264 vehicles last year, down by 12% from 2004, the number of imports topped 20,000 last year, the largest tally on record.