Vietnam's auto import increased although the country raised tax on imported new passenger automobiles to 83 percent from previous 70 percent on April 22 in a move to narrow trade deficit, curb inflation and relieve traffic congestion.
The country also hiked tariffs on automobile components and parts by 3-5 percentage points at the same time.
According to the country's General Statistics Office on Wednesday, Vietnam imported 35,400 completely-built automobiles, mainly cars, valued at 625 million U.S. dollars in the first five months of this year, compared 5,000 units of automobiles and cars at a value of 109 million dollars in the same period last year.
Vietnam also spent 681 million dollars importing automobile parts and components for assembly between January and May, up from204 million dollars in the same period last year.
The higher tariffs have lifted showroom prices of many kinds of domestically-assembled automobiles by around 300 dollars per vehicle.
"In April, we raised the price of our Camry 2.4 to 51,100 dollars from 50,600 dollars," said Nguyen Nhu Y, a saleswoman of Toyota Hoan Kiem, the biggest agent of Toyota Vietnam.
At the Toyota Hoan Kiem's office in the capital city of Hanoi, a local construction engineer named Nguyen Huy Duc was checking out a blue navy car branded Vios G. "It sells for 29,200 dollars now. Its price early last month was 28,900 dollars. The change isn't too much, so I'll buy it," the middle-aged man said.
"Though the import tax was hiked recently, the number of customers coming here has remained almost unchanged. However, it might change if luxury taxes increase," the young saleswoman said, noting that Toyota Vietnam recorded sales of 20,113 vehicles in 2007, posting year-on-year surge of 160 percent, and a domestic market share of 25 percent.
Vietnam's Finance Ministry plans to increase luxury taxes on automobiles in the coming time.
Now, automobiles with fewer than five seats are subject to the luxury tax rate of 50 percent, 6-15 seats 30 percent, and 16-24 seats 15 percent.
Source:Xinhua
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