The volume of imported completely built-up (CBU) automobiles fell more than 70 per cent to 4,524 units valued at US$127 million in January compared to December 2021 with imports from Indonesia down sharply, reports the General Department of Vietnam Customs.

Imported CBU automobiles reached 15,196 units with a value of $433 million in December.

It is reported that the majority of imported CBU vehicles in Viet Nam came from Thailand, Indonesia, China and Japan. The volume of cars imported from these markets reached 3,653 units, accounting for 87 per cent of the total number of imported vehicles into the country in January. Of this figure, Thailand accounted for 2,595 units, followed by China with 584 units, Indonesia with 474 units and Japan with 284.

Vehicles with less than nine-seat and buses, trucks, and specialised vehicles were imported into Viet Nam and were down by 53 per cent to 4,528 units. Of this figure, buses, trucks, and specialised vehicles reached 4,008 units for $99 million.

The less than nine-seater cars were registered for import in January, mainly came from Thailand with 2,488 units or down 54 per cent, and Indonesia with 472 units, a decline of 76 per cent compared to December.

In January, only 12 vehicles with more than nine-seat were imported into the country, mostly coming from Russia. Meanwhile, 260 trucks were imported worth $11.7 million with a 93.5 per cent decrease in volume and 90.5 in value compared to December. And some 244 specialised vehicles were imported, worth $16 million with a decline of 90.6 per cent in volume and 86.3 per cent in value.

Experts attributed the strong decline in car imports in January 2022 to a large number of cars that had previously been imported to meet sales demand before the Tet (Lunar New Year).

According to the report, auto parts and accessories imported into Viet Nam in January were down 7.8 per cent to $395 million. They reached $428 million in December 2021.

In January some 30,742 cars were sold in Viet Nam January, a decline of 34 per cent compared to the previous month, according to a report issued by the Viet Nam Automobile Manufacturers Association.

Of the sold units, 25,279 were passenger cars, down 31 per cent year-on-year; 5,177 were commercial vehicles, down 44 per cent; and 286 were special-purpose vehicles, down 53 per cent.

Sales of domestically assembled cars reached 17,782 units in January, a month-on-month decrease of 31 per cent, while imported completely built units were 12,960 units, down 38 per cent.

A 50 per cent reduction in the registration fee, which came into effect in December 2021 and will last until the end of May this year, was a reason why customers preferred domestically assembled cars. — VNS