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TMV denies talk of shutdown

Released at: 18:10, 22/04/2015

TMV denies talk of shutdown

Carmaker officially denies rumors it will cease automobile production.

by Tom Tran

Mr. Yoshihisa Maruta, General Director of Toyota Motor Vietnam (TMV), has dismissed rumors that it will cease automobile manufacturing to benefit from the 0 per cent tax rate in 2018, which caused an uproar recently. He was asked about the rumors at the TMV event to launch its new Camry 2015 on April 24, attended by nearly 80 reporters.

“We all certainly know that in 2018 the import tax on automobiles from ASEAN countries will be reduced to 0 per cent,” he said. “Toyota will keep trying to increase competitiveness in manufacturing costs compared to other countries in the region. Again, Toyota Motor Vietnam does not have any intention to stop production.”

Mr. Maruta also said that the process to produce one car takes three years and right now it is necessary to have a new policy for Vietnam’s automobile industry so that TMV can make plans. However, the government has yet to issue any detailed policies, so TMV has had difficulties in creating such plans. When he said that some automobile manufacturers may have to cease production, the media misunderstood and believed that TMV intended to do so, according to the company’s media representative Le Thi Huong Diu.

When asked whether this was a message TMV wanted to deliver to the government, Ms. Diu replied: “TMV is only stating the facts and the nature of the problem.”

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