Imported more than 10,000 complete cars at the beginning of the year

It is estimated that about 10,100 completely built-up (CBU) cars were imported into the country in the first 3 months of this year, reaching a value of 180 million USD.

The growth of imported cars is increasingly putting pressure on the domestic auto industry.

According to the report of the General Statistics Office, the turnover of the first quarter of 2014 has increased significantly compared to the same period last year, specifically increasing 44.1% in volume and 32.2% in value.

This fact shows that purchasing power for imported cars is clearly warming up, especially when compared to the domestic assembled car market (CKD). While the import turnover of CBU cars is increasing sharply, the output of CKD cars tends to decrease.

The warming signal is also clearly shown in the acceleration each month. The report of the General Statistics Office also said that the import turnover of completely built-up cars in March 2014 is estimated at 4,000 cars and 66 million USD, an increase of 1,000 cars in quantity and 15 million USD in value compared to the previous month.

The growth of imported cars is increasingly putting pressure on the domestic auto industry. Because in just 4 years, the import tax rate for completely built-up cars from Southeast Asian countries will be 0%. Currently, many car manufacturers that hold a large market share in Vietnam such as Toyota or Ford are continuously increasing investment in production in countries in the region such as Thailand, Indonesia or Malaysia.

Import turnover of completely built-up cars in the last 4 months

Quantity (pieces)Value (USD)

December 2013 4,000 83,000,000

January 2014 3,000 65,000,000

February 2014 3,000 51,000,000

March 2014 (estimated) 4,000 66,000,000

Quarter 1/2014 (estimated) 10,100 180,000,000

Source: General Statistics Office

According to thoibaokinhte