The price of Ford's Everest Titanium Plus has risen by VND307 million (US$14,000) with effect from this month following a steep rise in special consumption tax. — VNS Photo

HCM CITY (Biz Hub) — The price of Ford's Everest Titanium Plus has risen by VND307 million (US$14,000) with effect from this month following a steep rise in special consumption tax.

The new price is VND1.936 billion ($88,000), the company announced.

Everest Titanium Plus is an imported vehicle and the tax applied on it has increased from 60 per cent to 90 per cent since it has a 3.2 litre engine.

The next highest price hikes, ranging from VND10 million to VND39 million, were for the Ranger.

Ford's other models have seen prices decline by around VND20 million ($900).

But Ford continues to see record sales. This year it has sold 13,610 cars for a growth of 52 per cent.

The special consumption tax is based on engine capacity. Cars with engines of less than 1.5L have seen the tax fall from 45 per cent to 40 per cent.

At the upper end, vehicles with engines of 5-6L have seen the rate rise from 60 per cent to 150 per cent. — VNS