Viet Nam’s import of cars reached 14,134 units in February, worth over US$300 million, according to a report from the General Department of Customs.

In comparison with the year-on-year import figures, when auto importers faced barriers from the Government’s Decree 116 on the conditions for production, assembly, import and business of automobile warranty and maintenance services last year, the February figure increased by 5,667 per cent in volume and 1,696 per cent in value.

February saw strong performance because the importers have met the requirements of Decree 116, especially the Vehicle Type Approval Certificate, and stabilised their imports.

Cars imported from Thailand gained the highest volume of nearly 9,400 units, accounting for 66.4 per cent of the total imports in the month. It was followed by Indonesia with over 3,820 units.

The average prices of Thai and Indonesian cars were at $19,700 and $16,600 each, respectively. These prices were low because they both enjoy zero per cent import duty when exporting products to Southeast Asia members, including Viet Nam.

The figures imported from countries including Japan, Russia, the US and Britain were not high, said the report. — VNS