CAR IMPORTS INCREASE 37.5 PER CENT IN 10 MONTHS

Việt Nam imported 142,794 completely built units (CBUs) in the first 10 months of this year, an increase of 37.5 per cent over the same period last year, according to data from the General Department of Customs.

Most of the imported cars have nine or under nine seats, accounting for 82 per cent of the total number of fully assembled cars over this period.

Việt Nam mainly imported cars from Indonesia, with 57,963 units imported so far this year (19,569 units higher than over the same period last year). Imports also came from Thailand, with 54,481 units (7,535 units higher than last year) and China, with 24,613 units (16,112 more than last year).

According to the Việt Nam Automobile Manufacturers Association, car sales reached 38,761 units in October, up 6 per cent against the previous month and 53 per cent against October 2023.

Of the October sales, 21,113 units were domestically assembled cars, up 8 per cent, while 17,648 were imported, up 3 per cent.

The association said that the sale of domestically assembled cars increased in October due to the Government reducing registration fees by 50 per cent from September to November this year.

The import of cars and components totalled US$6.84 billion from January through October, up 18.2 per cent on-year.

Source: VNS