Price of Vehicles Likely to Rise from July
The price of vehicles made in Vietnam may be higher from July 1, 2007, because of higher production costs to satisfy Euro2 environmental standards.
The higher environment standards will add US$1,400-US$2000 to production costs, a carmaker said.
Yuchiro Ishii, director of sales and product development division of Honda Vietnam, said the higher environmental standard will add more cost to products.
Tran Anh Vinh, deputy director of R&D department under Hoa Lam Kymco, added that to satisfy Euro2 standards, several new components like filter and exhaust will be installed and replaced, leading to a higher production cost estimated at US$200 for each unit.
Vietnam is home to some 18 million motorbikes and nearly one million automobiles.
In the first quarter of this year, the Vietnamese industry turned out nearly 560,000 motorbikes and nearly 10,000 automobiles, up 21 per cent and 30 per cent on year. (VNN)
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