ID :
14258
Tue, 07/29/2008 - 23:27
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Shortlink :
https://oananews.org//node/14258
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Businesses expect big profits from luxury cars
Hanoi (VNA) - In mid-July, the Euro Auto Company, an authorised local distributor of BMW in Vietnam , opened a showroom in the capital city of Hanoi where it introduces a four-seat sport X6 at the cost of 130,000 euros (around 200,000 USD) after the model hit the global market just two months ago.
At the same time, Euro Auto inaugurated a showroom displaying fashioned auxiliary equipment and souvenirs featured BMW products in Ho Chi Minh City while hurrying up its preparations for the opening of a BMW centre at Ho Chi Minh City 's outlying Phu My Hung Urban Complex late this year.
Euro Auto Director General Huynh Du An told the Vietnam News Agency that those moves were an indication of the BMW group's confidence in "thriving prospect of Vietnam 's economy under the Government's management".
He unveiled that Euro Auto sold 100 BMW cars of various types in Vietnam so far this year.
Euro Auto is among local car importers who have high hopes on lucrative sales of luxury cars in the country after seeing more and more brand names like Rolls Royce, Bentley and Audi with pre-tax price of not below 100,000 USD running in big cities like Hanoi , Ho Chi Minh City and Hai Phong.
The Ho Chi Minh City-based Ben Thanh Corporation, which has been involving in multi-trades for years, is planning to open the first supermarket of luxury cars in Vietnam.
The called Saigon Car Mart is expected to open late September, a senior official of the Ben Thanh Corporation said, adding the mart will offer customers various choices, with such luxury names as Bentley, Rolls Royce, Mercedes Benz, BMW, Ferrari and Lexus.
Automobile businesses predict that luxury cars continue to be dominant in imports in the second half of this year as the demand is still on the rise.
Meanwhile, imports of other kinds of completed built unit (CBU) carsdeclined in recent two months, from 5,500 CBUs in May to 4,500 in June.
It was partly attributed to the Finance Ministry's decision to raise the import tariff on CBUs from 60 percent to 83 percent and banks' tougher loan restriction to reduce inflation.
Experts forecast a continual decline in imports of CBUs in the second half of the year following the Government's solutions to rein in raging inflation.
According to the Ministry of Transport and Communication, there are over 800,000 automobiles in Vietnam , compared to over 20 millionmotorbikes.
At the same time, Euro Auto inaugurated a showroom displaying fashioned auxiliary equipment and souvenirs featured BMW products in Ho Chi Minh City while hurrying up its preparations for the opening of a BMW centre at Ho Chi Minh City 's outlying Phu My Hung Urban Complex late this year.
Euro Auto Director General Huynh Du An told the Vietnam News Agency that those moves were an indication of the BMW group's confidence in "thriving prospect of Vietnam 's economy under the Government's management".
He unveiled that Euro Auto sold 100 BMW cars of various types in Vietnam so far this year.
Euro Auto is among local car importers who have high hopes on lucrative sales of luxury cars in the country after seeing more and more brand names like Rolls Royce, Bentley and Audi with pre-tax price of not below 100,000 USD running in big cities like Hanoi , Ho Chi Minh City and Hai Phong.
The Ho Chi Minh City-based Ben Thanh Corporation, which has been involving in multi-trades for years, is planning to open the first supermarket of luxury cars in Vietnam.
The called Saigon Car Mart is expected to open late September, a senior official of the Ben Thanh Corporation said, adding the mart will offer customers various choices, with such luxury names as Bentley, Rolls Royce, Mercedes Benz, BMW, Ferrari and Lexus.
Automobile businesses predict that luxury cars continue to be dominant in imports in the second half of this year as the demand is still on the rise.
Meanwhile, imports of other kinds of completed built unit (CBU) carsdeclined in recent two months, from 5,500 CBUs in May to 4,500 in June.
It was partly attributed to the Finance Ministry's decision to raise the import tariff on CBUs from 60 percent to 83 percent and banks' tougher loan restriction to reduce inflation.
Experts forecast a continual decline in imports of CBUs in the second half of the year following the Government's solutions to rein in raging inflation.
According to the Ministry of Transport and Communication, there are over 800,000 automobiles in Vietnam , compared to over 20 millionmotorbikes.
