The domestic used-car volume increased significantly during September after suffering a period of decline.
A General Customs Department of Vietnam report revealed that around 405 second-hand cars were imported to the country last month, doubling the August figure.
Imports included 327 units with cylindrical capacities of 1.0 litres valued at more than 668,000 USD, coming mostly from the Republic of Korea .
An additional 78 units were made up of Toyota , Audi, Lexus and Mini Coopers with cylindrical capacities ranging from 1.5 to 2.5 litres.
Used-car traders explained that volumes were pushed up by the Government tightening policies based on car imports alongside stable and high market demand.
Meanwhile, importing new cars have become increasingly difficult, necessitating the shift of focus to low-end used-autos, which have been less affected by new tax rates, the traders added.
Since August 15, used passenger cars with less than 10 seats and 1.0 litre cylindrical capacities, have been taxed 3,500 USD while those with cylindrical capacities ranging from 1.0 to 1.5 litres have been hit with 8,000 USD.
Passenger cars with 10-15 seats and cylindrical capacities of 2.0 litres or less are subject to a fixed tax of 9,500 USD. Cars with cylindrical capacities of between 2.0 to 3.0 litres are subject to a tax of 13,000 USD while those with cylindrical capacities larger than 3.0 litres are charged 17,000 USD. /.
A General Customs Department of Vietnam report revealed that around 405 second-hand cars were imported to the country last month, doubling the August figure.
Imports included 327 units with cylindrical capacities of 1.0 litres valued at more than 668,000 USD, coming mostly from the Republic of Korea .
An additional 78 units were made up of Toyota , Audi, Lexus and Mini Coopers with cylindrical capacities ranging from 1.5 to 2.5 litres.
Used-car traders explained that volumes were pushed up by the Government tightening policies based on car imports alongside stable and high market demand.
Meanwhile, importing new cars have become increasingly difficult, necessitating the shift of focus to low-end used-autos, which have been less affected by new tax rates, the traders added.
Since August 15, used passenger cars with less than 10 seats and 1.0 litre cylindrical capacities, have been taxed 3,500 USD while those with cylindrical capacities ranging from 1.0 to 1.5 litres have been hit with 8,000 USD.
Passenger cars with 10-15 seats and cylindrical capacities of 2.0 litres or less are subject to a fixed tax of 9,500 USD. Cars with cylindrical capacities of between 2.0 to 3.0 litres are subject to a tax of 13,000 USD while those with cylindrical capacities larger than 3.0 litres are charged 17,000 USD. /.
