Vietnam car imports surge over 85pct in August

22-Sep-2020 Intellasia | Hanoi Times | 6:02 AM Print This Post

This marked the rise in number of imported cars to Vietnam in two consecutive months, following a 34 percent increase in July.

In August, Vietnam imported 8,800 cars worth $202 million, up 85.6 percent month-on-month in volume and 87.1 percent in value, according to the general Department of Vietnam Customs (GDVC).

This marked the second intermonthly rise in a row in number of imported cars to Vietnam, following a 34 percent increase in July.

Overall, 53,800 cars were imported to Vietnam during the eight-month period for $923 million, down 43.4 percent year-on-year in volume and 43 percent in value.

Upon breaking down, the country imported 39,600 passenger cars, or cars with less than nine seats, accounting for 74 percent of total cars imported and 44 percent less than the figure recorded in the same period of last year.

According to the GDVC, 83 percent of imported cars in Vietnam in the January-August period came from Thailand and Indonesia, with the corresponding numbers of 24,700 and 20,300, down 56 percent and 28 percent year-on-year, respectively.

Data from the Vietnam Automobile Manufacturers Association (VAMA) revealed the number of cars sold in Vietnam decreased by 14 percent month-on-month and 4 percent year-on-year to 20,655 units in August, the first decline in car sales number in four months.

In the first eight months of 2020, car sales in Vietnam dropped 25 percent year-on-year to 151,903 units across all segments.

Sales of domestically assembled cars reached 96,473 units during the period, down 19 percent compared to the same period of last year, while imported completely-built-units (CBUs) totalled 55,430 units (-33%).


Category: Economy, Vietnam

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