The Price of a Toyota in Vietnam: $91,675

Vietnam’s online Business Times, analyzing the economics of car ownership, finds the government clearly doesn’t want to overwhelm the roads in one of the world’s biggest two-wheel cultures.  Taxes and fees mean the cost of owning a Toyota Camry approaches $100,000.

The analysis shows there are already nine kinds of fees — including import tax, value added tax, luxury tax, car ownership registration tax and $1,000 for a license plate.  And there’s more to come: a road maintenance fund that proposes to charge car-owners up to $70 per month starting in June, a proposed vehicle circulation fee of up to $2,500 per year, and a special fee for cars entering the central areas of big cities in peak hours.

Consider the example of a $25,000 Toyota Camry imported from the US.

  • $20,750 import tax
  • $22,875 luxury tax
  • $6,800 VAT
  • $15,000 car ownership registration tax
  • $1,000 license plate fee
  • $250 first-time registration fee.

That adds up to $91,675 (before $1,500 in proposed fees) and a message:  Vietnam doesn’t want its transportation infrastructure more crowded or its air more polluted.

More on the cost of owning a car in Vietnam

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