Pickup trucks on sale attract customers.

Following news of increased taxes and fees on pickup trucks, along with major promotional programs, sales of pickup trucks have surged, with some manufacturers experiencing sales figures many times higher than in previous months.

According to statistics from the Vietnam Automobile Manufacturers Association (VAMA), in the first six months of 2017, the entire market consumed more than 11,500 pickup trucks of all types, equivalent to the same period last year.

Among current pickup truck brands, the Ford Ranger maintains its number one position with 1,335 units sold (approximately 35 more than the previous month), accounting for 59.7% of the pickup truck segment. Although sales decreased by 7% compared to the same period in 2016, cumulative sales for the first six months of 2017 reached nearly 7,000 units, a slight increase of 2% compared to the same period last year.

Alongside this, the Chevrolet Colorado sold 261 units, bringing its total sales for the first six months of the year to over 1,142 units, a 163% increase compared to the same period in 2016. The Mitsubishi Triton was also a popular choice with 184 units sold, a 142% increase compared to the same period last year. Cumulative sales for the first six months of 2017 reached 929 units, a 73% increase compared to the same period in 2016.

However, some models experienced a decline in sales, such as the Mazda BT-50, which, despite maintaining its third position in the list of the top 5 best-selling pickup trucks in June, saw a 42% decrease compared to the same period last year. Overall, in the first six months of the year, the Mazda BT-50 ranked second with sales of 1,362 units, a 34% decrease compared to the same period in 2016.

According to assessments, although VAMA statistics show that pickup truck sales in June decreased by 10% compared to the same period last year, most well-known pickup truck brands experienced growth. This is due to the information about upcoming tax and fee increases, as well as the fact that car manufacturers are competing with each other by offering discounts and promotions, which is helping to stimulate demand.

This July, the "king" of pickup trucks, the Ford Ranger, continues to receive massive discounts. With Ford Ranger versions priced from 600 to over 900 million VND, customers can enjoy discounts of up to 80 million VND. Brands like Chevrolet Colorado and Mitsubishi Triton are also offering price reductions ranging from 20 to 80 million VND.

The Vietnamese automotive market is becoming increasingly vibrant with various promotions and discounts. The battle for market share among car manufacturers is becoming even more fierce, especially as the implementation of the new 2018 import tax policy is fast approaching.

With attractive promotions and information about upcoming tax and fee increases, many customers have been looking for ways to finalize their purchase of a pickup truck as soon as possible. Mr. Nguyen Van Thuc (Ba Dinh, Hanoi) said he decided to complete the purchase at Chevrolet Thang Long dealership this July, instead of planning to buy it next year. Mr. Thuc said that even though he had to borrow money...

The pickup truck segment in Vietnam is considered to have begun to flourish in 2010 when Ford introduced its first global model (One Ford), the Ranger, with many electronic features previously only found in high-end passenger cars, which were quite well received by the market. To date, the pickup truck segment in Vietnam includes most of the major global brands, comprising 8 brands (Chevrolet, Ford, Isuzu, Mazda, Mitsubishi, Nissan, Toyota, Premio...) with over 30 different models.

Recently, the government requested a review of tax policies (import tax, special consumption tax, etc.) for this type of vehicle because it is used as a passenger car (for daily commuting as it is not prohibited from entering urban areas) but is subject to much lower taxes/fees than passenger cars.

Specifically, the excise tax on pickup trucks and passenger cars was a common rate of 15% before July 1, 2016, and has now been adjusted upwards (from July 1, 2016) to 20% for engine capacities between 2,500cc and 3,000cc, and 25% for engine capacities above 3,000cc.

Specifically, the import tax rate for completely assembled pickup trucks from the ASEAN region to Vietnam is only 5%; whereas, SUVs with similar engine capacities are subject to the current special consumption tax of 50%. In addition, the registration fee for passenger cars in Hanoi and Ho Chi Minh City is 12%.

According to Trung Hieu/Baotintuc