Vietnam foreign car makers to halve 2004 output

Newswire

By Nguyen Nhat Lam HANOI, Jan 29 (Reuters) - Vietnam's 11 foreign auto makers will almost halve production in 2004 to 22,000 cars as new taxes squeeze demand, an industry body said on Thursday. "We do not have an option," an official at the Vietnam Automobile Manufacturers Association (VAMA), which groups the 11 car producers, said. The firms, which operate as joint ventures with Vietnamese partners, cut January production by nearly 36 percent from the previous month to 3,140 vehicles, ...

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