Business

Auto imports from India surge

The import of completely built-up (CBU) autos from India in May jumped more than 20 times from February to over 3,500 units with an average price of only 112 million VND (4,870 USD).
Auto imports from India surge ảnh 1The import of CBU autos from India in May jumped more than 20 times from February to over 3,500 units (Photo: VNA)

Hanoi (VNA) - The import of completely built-up (CBU) autos from India in May jumped more than 20 times from February to over 3,500 units with an average price of only 112 million VND (4,870 USD).

According to the Ministry of Industry and Trade, most of the vehicles imported from India in the period were mainly 4-seat cars and small vans.

Statistics from the ministry showed that Vietnam imported 41,238 cars worth 968.18 million USD from January to May.

Of the total volume, Vietnam bought 12,538 cars from Thailand, 7,696 from the Republic of Korea, and 5,918 from India.

Under the latest Law on Special Consumption Tax approved by the National Assembly, the cars with the cylinder capacity of 1.5 litre and lower will be taxed 40 percent, or 5 percent lower than now, from July 1, 2016.

Meanwhile, the tax rate of 35 percent, or 10 percent lower than currently, will be applied from January 1, 2018.-VNA

VNA
#completely built-up autos #CBU #special consumption tax
Follow VietnamPlus

Related News

Car imports drop in February

Car imports drop in February

Vietnamese auto businesses imported about 5,000 completely built-up unit (CBU) cars, worth 131 million USD, in February, 1,000 cars less than the previous month, the General Statistic Office (GSO) sai
Car imports rise sharply following tax adjustment

Car imports rise sharply following tax adjustment

Vietnam spent 195 million USD on importing about 12,000 completely built-up cars in May, an increase of 33 percent in quantity compared to April and 12 percent against the same period last year.
Over 26,000 cars sold in May

Over 26,000 cars sold in May

Vietnam’s automobile sales in May totaled 26,028, increasing just one percent from April but 45 percent from the same period last year, released the Vietnam Automobile Manufacturers’ Association.

See more

Delegates at the event (Photo: Ministry of Finance)

ASEAN meeting to drive regional cooperation, growth by removing barriers

Running from November 5–11, CCS 111 focuses on advancing service liberalisation and facilitation in ASEAN by removing barriers, enhancing transparency, reducing policy risks, and simplifying administrative procedures to enable businesses and service providers to operate more efficiently.

Goods at Hai Phong Port in northern port city of Hai Phong. (Photo: VNA)

Vietnam determined to build transparent global trade system

The Government of Vietnam on November 6 updated the World Trade Organisation (WTO)’s Committee on Rules of Origin (CRO) on adjustments to the agencies and organisations authorised to issue certificates of origin (C/O), as well as on the application of QR codes in the C/O issuance process.

SemiExpo Vietnam 2025, themed “Powering Vietnam’s Semiconductor Ambition,” brings together around 5,000 delegates and feature 200 booths from major global technology corporations (Photo: VNA)

Vietnam opens largest int’l semiconductor exhibition

SemiExpo Vietnam 2025, themed “Powering Vietnam’s Semiconductor Ambition,” brings together around 5,000 delegates and feature 200 booths from major global technology corporations such as Lam Research, Coherent, Qorvo, Amkor, GlobalFoundries, Micron, Tokyo Electron, KLA, STMicroelectronics, Soitec, and Siemens.

Consumers learn about Hanoi's OCOP products. (Photo: VNA)

Hanoi launches digital booths to promote e-commerce

Hanoi will open an online store showcasing Hanoi's products on the e-commerce platform Shopee. It will introduce digital tools such as electronic signatures, e-contracts, e-invoices, and product traceability systems for local producers and businesses participating in the booth.

Loading rice for export at a port in Vietnam (Photo: VNA)

Exports hit new records following strong momentum

Vietnamese enterprises have set records across multiple areas, demonstrating strong export momentum that not only expands trade but also reinforces Vietnam’s position in global supply chains.

Products are promoted at the event. (Photo: VNA)

Vietnam connects resources to boost innovation, sustainable development

The Vietnam Innovation Summit, an annual international forum organised by InnoLab Asia, not only discusses policy and trends but also serves as a global bridge, bringing knowledge, resources, and cooperation opportunities from advanced innovation ecosystems worldwide to Vietnam.

Experts discuss at the seminar. (Photo: VNA)

CPTPP - Growth lever amid reciprocal tariff: Experts

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is one of the first new-genereration free trade agreements (FTAs) to take effect, playing a vital role in Vietnam’s export growth, especially amid the impacts of the US’s tax policies, according to insiders.