Viet Nam spent US$1.04 billion to import some 51,000 various vehicles in the first half of this year, according to statistics of the General Department of Viet Nam Customs.
The local consumption of automobiles in June 2017 was 24,365 units, up 5 per cent in comparison to May, according to a report by the Vietnam Automobiles Manufacturers’ Association (VAMA).
Viet Nam''s Auto Purchase Index (API) declined to 14.6 in the first quarter from 15.5 as consumers plan to delay purchases until 2018 when the ASEAN Free Trade Agreement eliminates tariffs on cars imported from the regional countries.
Automobile sales in 2016 reached 304,427 units, the highest level recorded by Viet Nam’s auto market in the past 20 years, the Vietnam Automobiles Manufacturers’ Association (VAMA) announced on Wednesday.
The Government will work with automakers to turn the national automobile industry into a key economic sector, contributing to the country’s economic growth and meeting the public’s demand for autos, said Deputy Prime Minister Trinh Dinh Dung.
Viet Nam imported about 12,000 complete built-up units (CBU) cars with
total value of US$195 million in May, increasing by 3,000 units, or 33
per cent, compared with last month.
Thailand has become Viet Nam''s leading automobile exporter in the first
quarter of this year, with a volume of more than 7,800 units, a 64.5 per
cent increase compared with the same period last year.
The Truong Hai Automobile Joint-Stock Company (Thaco) reported VND41.532 trillion (US$1.86 billion) in revenue in 2015, an increase of 89 per cent since 2014.
There could be a 2 per cent to 20 per cent increase in import tax on
various types of trucks, according to a circular drafted by the Ministry
of Finance.
The Vietnamese automobile market saw impressive sales of cars with 10 seats and below, trucks and commercial vehicles in March. The month''s sales grew 39 per cent year over year, and it was also the 12th consecutive month of sales...
Viet Nam''s sales of domestically assembled cars rose 23 per cent year on
year in January, thanks to strong car sales before the Lunar New Year
holiday.