Car prices up by US$100- 2,000/unit

Many foreign-invested automobile assembling businesses have decided to increase the price of cars by US$100- 2,000/unit as of August 2008.

Accordingly, from August 1 Toyota Vietnam increased the price of most of its products by US$100-1,000 each. The Camry 2.4 and 3.5 saw the highest rises, up US$1,000/unit. Innova went up by US$500/unit, and Vios, US$100/unit.

Meanwhile, Honda Vietnam also increased the price of the Civic generations by VND35-39 million/unit.

The soaring price of cars was attributed to higher import taxes imposed on automobile spare parts (up 10-15 percent since June 20), rising prices of material inputs such as steel and plastics, and increases in the exchange rate between the US dollar and Vietnam dong.

VOV

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