Việt Nam spends nearly $1b importing cars in the first four months of 2024
Việt Nam imported 43,805 cars worth US$929.4 million in the first quarter, down 19.4 percent in volume and 23.5 per cent in value year on year
Việt Nam imported 43,805 cars worth US$929.4 million in the first four months of 2024, down 19.4 percent in volume and 23.5 per cent in value year on year, according to the General Department of Vietnam Customs.
In April alone, the number of completely built-up cars (CBUs) imported into Việt Nam reached 11,565, equivalent to $255.6 million.
Indonesia, Thailand and China are the largest car suppliers to Việt Nam, with the three supplying 42,154 cars in total, accounting for 96.2 per cent of imports in the four months of 2024.
Domestic auto sales in the first quarter this year plummeted by 17 per cent year-on-year, according to data released by the Vietnam Automobile Manufacturers’ Association (VAMA).
VAMA’s data showed total auto sales in the year to the end of March reached 58,165 units.
Of total sales in March, 19,014 passenger cars, 8,047 commercial vehicles and 228 special-use vehicles found buyers, up by 135 per cent, 131 per cent and 307 per cent, respectively. — VNS
