Car imports surge in July

Saturday, Aug 20, 2016 08:30

More than 60,600 units were imported in the first seven months of this year, marking a year-on-year increase of nearly six per cent. — Photo
HA NOI (Biz Hub) — The number of imported completely built-up units in July increased by 25 per cent compared with June, touching 10,839 units, according to statistics of the General Department of Customs.

However, the total value of the imported units fell by 16 per cent to reach US$208.2 million in July.

The imbalance between the volume and the value proved that most of imported vehicles were small and inexpensive sedans.

In the first seven months of this year, more than 60,600 units were imported, marking a year-on-year increase of nearly six per cent. Meanwhile, the total value was more than $1.4 billion, a fall of 17.3 per cent.

Thailand exported the maximum vehicles to Viet Nam, with 3,700 units in July, a 44 per cent increase year-on-year, followed by South Korea, India, China and Japan.

The number of automobiles imported from China continuously fell from more than 2,000 units in April to less 1,000 in July. In the first seven months of this year, the export of Chinese automobiles to Viet Nam fell from 18,000 units to 8,000 units year-on-year.

The import of automobiles from Thailand continuously increased during the seven months, with 18,837 units being shipped to Viet Nam, worth more than $343 million.

Last month also saw the resumption of import of Indian automobiles, with 1,877 units being sent to Viet Nam.

In June, the import of Indian vehicles had fallen from more than 3,500 units to 137 units, marking an unwonted reduction because the businesses had waited for the Law on Special Consumption Tax that came into effect on July 1, reducing the tax from 45 per cent to 40 per cent for under 1,500cc vehicles with small engine displacement.

Most of the vehicles imported from India are sedans with a low engine displacement.

In the near future, the import of small sedans is expected to increase because of the reduction of the special consumption tax as of July 1. — VNS

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