Wuling Bingo, the compact electric car that is the mainstay of Wuling Motors, continues to expand its penetration in the ASEAN market. After launching in Indonesia, Now Wuling Bingo is officially present in Vietnam at a surprising price. In the Land of the Blue Dragon, This electric car is offered at a much more affordable price compared to Indonesia.
The following are Wuling Bingo variants and prices in Vietnam based on distance traveled:
- Wuling Bingo 203 km: 349.000.000 VND or around Rp 220 millions
- Wuling Bingo 333 km: 399.000.000 VND or around Rp 252 millions
- Wuling Bingo 410 km: 469.000.000 VND or around Rp 296 millions
- Wuling Bingo 510 km: 569.000.000 VND or around Rp 360 millions
For comparison, in Indonesia, Wuling Bingo EV price for Long Range AC trim with mileage 333 km reaches Rp 317 millions. When compared with the same model in Vietnam, there is a price difference of around Rp 65 million.
Meanwhile, for premium range AC/DC variants with mileage 410 km, the price in Indonesia reaches Rp 372 millions. Compare with Vietnam, where this variant is only priced at Rp 296 millions. The price difference reaches Rp 76 million!
Factors Causing Price Differences
So, what causes this quite significant price difference? One of the main factors is the difference in tax policies in each country.
In Indonesia, Wuling Bingo EV has actually received an incentive in the form of a reduction in Value Added Tax (PPN) from the government. With this incentive, Wuling Bingo is only subject to VAT of 1% in the year of 2024, than it should be 11%.
In Vietnam, The government also provides tax policies that support electric cars. VAT in Vietnam has just been reduced from 10% become 8% to encourage economic growth, including in the automotive sector.
Even though both countries both provide tax incentives, other fee structures, such as logistics and local components, also affects the selling price. Vietnam, which is closer to Wuling's production base in China, is likely to benefit from lower shipping costs compared to Indonesia.
Opportunities for ASEAN Consumers
This price difference is certainly a concern, especially for consumers in the ASEAN region who want affordable electric cars. With prices starting from Rp 220 millions, Wuling Bingo in Vietnam is one of the best options for those looking for a cost-effective electric vehicle for daily use.
Meanwhile, Consumers in Indonesia can still take advantage of the tax incentives provided by the government to buy the Wuling Bingo EV. This step also supports the transition towards more environmentally friendly vehicles.
Wuling Bingo prices in Vietnam which are cheaper than Indonesia emphasize the importance of tax policies and cost efficiency in determining selling prices. For Wuling, This step shows their commitment to reach a wider market in ASEAN.
With a price difference of up to Rp 70 millions, Wuling Bingo in Vietnam offers very competitive value. However, Tax incentives in Indonesia also provide opportunities for local consumers to own electric cars at more affordable prices.
