More than 53,500 cars, including both locally assembled and imported cars were sold last month, up 11.7 per cent compared to September, reported the General Statistics Office.

Specifically, there were 14,500 CBU cars imported to Viet Nam, down more than 21 per cent compared to September, with an import value of about US$367 million.

The accumulated volume of imported CBU cars is estimated at 129,478 in the first 10 months of the year, equal to 94.9 per cent compared to the same period last year.

Total import turnover of CBU vehicles was $2.971 billion, a slight growth of 3.2 per cent over the same period last year. This increase was mainly due to the exchange rate difference.

Notably, domestically assembled cars tended to grow sharply, when 39,000 additional cars were added to the market, the number was 2.7 times higher than imported cars in the same month.

Accumulated in the first 10 months of this year, the number of domestically manufactured and assembled cars was estimated at 362,500 vehicles, up 16.4 per cent over the same period last year.

Thus, the production of assembled cars (362,500) was 2.8 times higher than the volume of imported cars (129,478).

The total number of imported and assembled cars in the whole market in our country reached 491,978 vehicles, about to exceed the consumption threshold of 500,000 vehicles per year.

Import data from the General Department of Customs show that the import turnover of auto parts and accessories in the first three quarters of this year was more than $4.3 billion, up 15.2 per cent year-on-year.

It is estimated that the import value of auto parts and accessories for the whole year will exceed $5 billion.

Experts said that the trend of moving automobile assembly from ASEAN countries to Viet Nam would promote the import of spare parts and components for domestic automobile assembly.

At the Viet Nam Motor Show (VMS) 2022 exhibition that just took place in HCM City at the end of last month, a series of green car models and concept cars were displayed for the first time, demonstrating the shift of the focus of the auto market from ASEAN countries to Viet Nam of global automakers. — VNS