According to Vietnam Customs, the number of imported cars in Vietnam rose 61 percent to nearly 130,000 units in the first 10 months this year. Passenger vehicles saw a rise of 50 percent to more than 90,000 units.
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.
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.
Car imports in November dropped 10.4 percent month on month to 12,237 units, according to initial statistics of the General Department of Vietnam Customs.
Vietnam imported 14,523 cars in the first two months of 2020, representing a year-on-year plunge of 43.7 percent, according to the Ministry of Industry and Trade (MoIT).
Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.
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.
Vietnam imported 109,000 cars in the first nine months of this year, a year-on-year increase of 167.8 percent, reported the General Department of Vietnam Customs.
Vietnam imported 11,172 cars between in the first nine months of 2018, up 5,142 units from the same period last year, according to the General Department of Vietnam Customs.
Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50 percent compared with the previous month, according to the General Department of Vietnam Customs.
The Federation of Thai Industries (FTI) has called on the government to maintain tariff on imported cars at 80 percent to protect the local auto manufacturing industry.
The General Statistics Office of Vietnam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month.
Deputy Prime Minister VuongDinh Hue has asked ministries to strengthen the management of temporary import of cars of individuals who enjoy privileges and tax exemptions in Vietnam.
Vietnamese businesses spent some 200 million USD importing 7,000 completely built-up units (CBUs) in November, according to an estimate of the General Statistics Office (GSO).
The number of cars of nine seats and less imported from Thailand and Indonesia soared in January, sparking fierce competition between importers and local automakers.
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