No recall of Hyundai Sonata cars in Vietnam

Photo: Photo Courtesy of Hyundai Motors

The Hyundai Sonatas imported into Vietnam do not suffer from the defects in the steering wheel that led to a massive recall in the US, the Korean firm’s official dealer in Vietnam said.

Hyundai-Thanh Cong Vietnam Co explained that the 139,500 cars recalled in the US were made in Hyundai’s plants in Alabama, the US, while those imported into Vietnam are assembled in Korea.

The US cars had problems with the steering wheel that could cause a loss or reduction of control.

Korea’s biggest automaker Sunday announced the recall after the US National Highway Traffic Safety Administration began a probe into steering problems in August, though no accidents or injuries occurred as a result of improper assembly or loose steering connections, according to wire service Reuters.

In February Sonata recalled 47,000 other vehicles in Korea and the US due to a front door lock fault.

The Vietnamese dealer of another Korean carmaker, Kia Motors has also announced a recall of 427 Sorentos in Vietnam.

Truong Hai Auto Group will fix the faults in a section of the door wiring loom that controls the "mood" lighting inside in cars imported from Korea and the US.

Hyundai owns about 40 percent stake in Kia.

Kia Motors’ co-chief executive, NAME, resigned earlier this month after taking responsibility for the recall of nearly 86,000 cars.

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Car imports decline for first time

Photo: Tuoi Tre

The domestic automobile market this month may see a decrease in both import volume and value for the first time, according to the General Statistics Office (GSO).

In August, the GSO estimated that the number of autos imported to Vietnam was only 4,000 units—down by 9.1 percent over last month. The total import value was worth only US$78 million, a month-on-month decline of 18.8 percent.

According to market insiders, the import car market has been strongly affected by a number of new policies, economic conditions and Vietnamese people's thoughts that the seventh month of the lunar calendar is not a lucky time.

"The Government has issued many policies to limit imports for a long time. Now, these policies are becoming effective," said Nguyen Trung Hieu, an official from the Vietnam Automobile Manufacturers' Association (VAMA).

Hieu added that these policies were diversified. They were focused in many fields, including customs and tax.

"For example, importers have to show environmental protection certificates before they can make imports. And, tax loans are not allowed," Hieu said.

Credit-tightening policies of banks were also limiting car imports.

"Currently, not only the auto market, but other industries as well are also facing difficulties," Hieu concluded.

In previous months, the volume of imported autos was down, but import turnover had continued to increase.

In detail, the number of autos imported to Vietnam from May to July was 5,300, 4,600 and 4,400 units, respectively.

In May and June the market poured about $89 million each month for imports. The number increased to $96 million in July.

Experts attributed the value increase to the new trend of using luxury cars by domestic consumers.

It has been said that in the coming months, a car that costs about half a million dollars will come to Vietnam. Currently, a car worth more than $600,000 is being displayed in a showroom in the capital city of Hanoi.

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Car imports decline for first time

Photo: Tuoi Tre

The domestic automobile market this month may see a decrease in both import volume and value for the first time, according to the General Statistics Office (GSO).

In August, the GSO estimated that the number of autos imported to Vietnam was only 4,000 units—down by 9.1 percent over last month. The total import value was worth only US$78 million, a month-on-month decline of 18.8 percent.

According to market insiders, the import car market has been strongly affected by a number of new policies, economic conditions and Vietnamese people's thoughts that the seventh month of the lunar calendar is not a lucky time.

"The Government has issued many policies to limit imports for a long time. Now, these policies are becoming effective," said Nguyen Trung Hieu, an official from the Vietnam Automobile Manufacturers' Association (VAMA).

Hieu added that these policies were diversified. They were focused in many fields, including customs and tax.

"For example, importers have to show environmental protection certificates before they can make imports. And, tax loans are not allowed," Hieu said.

Credit-tightening policies of banks were also limiting car imports.

"Currently, not only the auto market, but other industries as well are also facing difficulties," Hieu concluded.

In previous months, the volume of imported autos was down, but import turnover had continued to increase.

In detail, the number of autos imported to Vietnam from May to July was 5,300, 4,600 and 4,400 units, respectively.

In May and June the market poured about $89 million each month for imports. The number increased to $96 million in July.

Experts attributed the value increase to the new trend of using luxury cars by domestic consumers.

It has been said that in the coming months, a car that costs about half a million dollars will come to Vietnam. Currently, a car worth more than $600,000 is being displayed in a showroom in the capital city of Hanoi.

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Car imports decline for first time

The domestic automobile market this month may see a decrease in both
import volume and value for the first time, according to the General
Statistics Office (GSO).

In August, the GSO estimated that the number of autos imported to
Vietnam was only 4,000 units—down by 9.1 percent over last month. The
total import value was worth only 78 million USD, a month-on-month
decline of 18.8 percent.

According to market
insiders, the import car market has been strongly affected by a number
of new policies, economic conditions and Vietnamese people's thoughts
that the seventh month of the lunar calendar is not a lucky time.

"The Government has issued many policies to limit imports for a long
time. Now, these policies are becoming effective," said Nguyen Trung
Hieu, an official from the Vietnam Automobile Manufacturers' Association
(VAMA).

Hieu added that these policies were diversified. They were focused in many fields, including customs and tax.

"For example, importers have to show environmental protection
certificates before they can make imports. And, tax loans are not
allowed," Hieu said.

Credit-tightening policies of banks were also limiting car imports.

"Currently, not only the auto market, but other industries as well are also facing difficulties," Hieu concluded.

In previous months, the volume of imported autos was down, but import turnover had continued to increase.

In detail, the number of autos imported to Vietnam from May to July was 5,300, 4,600 and 4,400 units, respectively.

In May and June the market poured about 89 million USD each month for
imports. The number increased to 96 million USD in July.

Experts attributed the value increase to the new trend of using luxury cars by domestic consumers.

It has been said that in the coming months, a car that costs about
half a million dollars will come to Vietnam. Currently, a car worth more
than 600,000 USD is being displayed in a showroom in the capital city
of Hanoi./.

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