Auto imports drop in April
The quantity and value of imported cars fell by 38 percent and 6 percent respectively in April from March.
Illustrative image (Photo: VNA)HCM City (VNA) – The quantity and value of imported cars fell by 38 percent and 6 percent respectively in April from March.
In the month, Vietnam imported 1,065 cars from China for 41 million USD, up 143 percent in quantity and 153 percent in value.
According to the Vietnam Automobile Manufacturers’ Association, April’s auto sales stood at 21,942 units, down 18 percent from March and 15 percent from last year.
The downward trend also hit domestically assembled cars and full car imports, which posted decreases of 10 and 35 percent compared to March.
Experts said the reduction was due to customers waiting for auto import tariffs to hit zero percent in early 2018, which will significantly drive down car prices.
Fourth-month auto imports and sales, however, grew 15 and 1 percent from the same period last year, respectively.-VNA
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