2018 ASEAN Import Tax Exemption: A Golden Opportunity for Truck Buyers in Vietnam?

“Buy a car at the beginning of the year, sell a car at the end of the year” – This familiar Vietnamese saying reflects the reluctance to change vehicles at the end of the year. However, 2018 witnessed a surge in imported truck purchases. The secret lies in the 2018 import tax exemption policy for automobiles. What was this policy, and did it truly offer a golden opportunity for truck buyers? Let’s explore with Hanoi Trucks!

2018: The Year of the Imported Truck Boom in Vietnam

In 2018, the import tax exemption policy for automobiles from ASEAN countries officially took effect, triggering a wave of imported trucks into Vietnam. This invigorated the truck market and opened up a golden opportunity for consumers to own high-quality trucks at attractive prices.

What was the 2018 Import Tax Exemption Policy for Automobiles?

Under this policy, the import tax on completely built-up (CBU) trucks from ASEAN countries into Vietnam was reduced to 0%. This significantly reduced the price of imported trucks, narrowing the gap with domestically assembled trucks.