The cumulative import turnover of CBU cars in Q1 2023 increased by 76 per cent in volume and 60.8 per cent in value compared to the same period last year.
Accumulated in the first 10 months of this year, the number of domestically manufactured and assembled cars is estimated at 362,500 vehicles, up 16.4 per cent over the same period last year.
The taxes on imported cars from Europe to Viet Nam will to zero per cent in the next 9 to 10 years, creating new competitiveness in the automobile market.
Vietnamese auto firms have launched promotions to spur demand after sales ped following the Tết (Lunar New Year) holiday and as the number of imported cars has increased strongly.
About 11,000 cars were imported into Viet Nam in October this year, worth US$233 million, according to estimates by the General Statistics Office (GSO).
Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50 per cent compared with the previous month, according to the General Department of Vietnam Customs.
Last month, Toyota Viet Nam unveiled the recommended retail prices for its first shipment of cars imported from Indonesia at zero tax, and most of them are higher than before the policy of zero tariffs took effect.
Viet Nam imported 19,000 cars in the first quarter of this year, a year-on-year increase of 169 per cent in volume and 82 per cent in value, according to a report from the General Statistics Office (GSO).
The number of imported cars in the first two months of this year
increased sharply in terms of value and volume, according to the General
Office of Statistics (GSO).