Car imports declines

After reaching a peak of 8,700 imported cars in July, the number of imported CBUs in August suddenly slumped to 7,300 vehicles, much lower than the previously forecasted figure of 8,000 units.

In details, general Statistic Office (GSO) reported that Vietnam spent $107 million importing 7,300 CBUs last month while the domestic car market has not yet signalled to cool down because consumers are rushing to buy imported cars.

Therefore, GSO estimated that September’s car imports will be around 7,300 units worth $105 million.

During the first eight months of 2009, total CBU imports reached 39,600 units against the full year plans of 40,000 vehicles but the import spending was $632 million, higher over three times than the targeted $200 million.

Reportedly, the car imports of Vietnam were 4,800 units worth $80 million in May, 7,000 worth $98 million in June, 8,700 units worth $118 million in July, 7,300 units worth $107 million in August and estimated 7,300 units worth $105 million this month.

 

Category: Economy