Viet Nam imported 109,000 cars in the first nine months of 2019, a year-on-year increase of 167.8 per cent, reported the General Department of Viet Nam Customs.
Viet Nam’s automobile market witnessed a year-on-year increase of 365.6 per cent to 88,000 cars in the first seven months of this year, worth US$1.94 billion, reports the General Department of Customs.
Despite initial hiccups, most of Viet Nam’s car firms are now complying with import rules that were tightened early last year, according to Deputy Prime Minister Trinh Dinh Dung.
About 13,000 cars worth US$260 million were imported to the Vietnamese market in November, up 2,000 units and $27 million compared with previous month, according to the most recent General Statistics Office (GSO) report.
The General Statistics Office of Viet Nam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month.
Vietnamese businesses spent some US$200 million to import 7,000 completely built-up units (CBUs) in November, according to an estimate of the General Statistics Office (GSO).
Viet Nam spent over US$165 million importing 6,111 complete built-up cars in September, a 22 per cent reduction compared to previous month, according to the preliminary report of the General Department of Customs.
The entry of importing used cars with nine seats and less will become tighter if the proposal of to lift tariffs by the Ministry of Finance recently is approved.
Some 8,000 complete built-up units of cars worth US$180 million were imported to Viet Nam in August, marking a slight increase of 1,000 units in volume and $13 million in value compared with the previous month.
Viet Nam imported more than 6,900 cars worth US$171 million in July, recording a of 11.2 per cent in volume and 2.6 per cent in value compared with the previous month.