Vietnamplus

Regulations on the automobile localisation ratio will be abolished on October 10, 2022 after having been in force for almost 20 years.

The Vietnam Automobile Manufacturers’ Association (VAMA) has announced that the total market sales of its member units reached 38,656 vehicles last month, a month-on-month increase of 30 percent, and a year-on-year increase of 6 percent.

Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.

About 335 million USD was spent on importing 15,316 completely built-up (CBU) vehicles in June, down 10.2 percent and 1.8 percent, respectively, against the previous month, according to the General Department of Customs.

More than 1.1 billion USD was spent on importing 49,360 completely built-up (CBU) vehicles in the four months of 2021 in Vietnam, a surge of 55.2 percent in volume and 57.2 percent in value over the same period last year, the General Statistics Office (GSO) has reported.

The Vietnam Automobile Manufacturers’ Association (VAMA) announced on April 13 that its members sold a total of 70,952 vehicles in the first quarter of 2021, a year-on-year surge of 36 percent.

The import of automobiles increased dramatically in March, according to figures released by the General Department of Customs (GDC).

A long Lunar New Year holidays, the ending of registration fee cut and impacts from COVID-19 pandemic are major reasons behind a strong fall of automobile sales in February, according to insiders.

The number of completely-built-up (CBU) motor cars imported to Vietnam in January fell 34.3 percent against December to 8,343 units worth 213 million USD, the General Department of Vietnam Customs has reported.

Vietnam spent about 1.2 billion USD to import 53,000 completely built unit (CBU) cars in the first eight months of this year.

Honda Vietnam sold 2.6 million motorbikes in the 2020 financial year, a year-on-year increase of 0.5 percent.

A record year-on-year increase of 113% for auto imports in September is attributed to new regulations on auto imports.

Competition in the automobile sector on the domestic market is fierce, not only in the production of local enterprises, but also the significant imports of cars in the first nine months of this year.

The sale of domestically-assembled cars during January-July fell 14 percent year on year to some 107,000 units, while that of completely-built units (CBU) shot up 207 percent to over 73,900, the Vietnam Automobile Manufacturers’ Association (VAMA) said on August 12.

Auto businesses are concerned about Vietnam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.

Automobile traders are suffering tough times due to a slide in prices and sales, though the used-car market has been vibrant even during the seventh lunar month called Thang Co hon (Month of lonely spirits), more than 30 units sold per day.

Although many carmakers in Vietnam have applied discounts and promotions, car sales in the first eight months of the year dipped 6 percent year-on-year to 177,000 units, according to the Vietnam Automobile Manufacturers’ Association (VAMA).

Honda Vietnam (HVN) aims to increase the export of completely built-up (CBU) vehicles by 12 percent and introduce 10 new motorbikes to the market in the fiscal year 2018.

Sales of completely – built units (CBUs) increased 114 percent to reach 8,484 in March, according to the latest data released by Vietnam Automobile Manufacturer’s Association (VAMA).

Car sales in Vietnam last August fell 17 percent from the previous month to 23,540 units, attributable to consumers’ unwillingness to do big business like car purchases in the “Ghost Month”.