Hyundai temporarily stops importing 4 car models in Vietnam

A media representative of Hyundai Thanh Cong said that the company is implementing a plan to increase the proportion of assembled vehicles to 90-95% of Hyundai passenger car models distributed in Vietnam in 2018. If the market has demand for some non-assembled car models, Hyundai Thanh Cong will still import to supply as usual.

Hyundai has expressed its ambition to boost domestic production and assembly since the beginning of this year. This enterprise has agreed with the Korean Hyundai Group to invest in a Hyundai passenger car production center in Vietnam, both for domestic consumption and for export to the ASEAN market to enjoy a 0% import tax rate.

The basis for Hyundai Thanh Cong's belief is that Hyundai Group does not have a large-scale factory and is experiencing rapid sales growth in the Southeast Asian market.

Boosting production and assembly helps Hyundai Thanh Cong enjoy 0% import tax incentives for components since 2018, along with Toyota Vietnam and Truong Hai, thereby reducing product costs and boosting sales./.