Prices of imported cars to Vietnam suddenly increased more than twice

Although the number of imported cars has decreased sharply compared to the same period last year, the customs declaration price of imported cars with less than 9 seats in the first half of April has more than doubled.

According to the import-export statistics for the first half of April 2017 just announced by the General Department of Customs, the number of imported cars suddenly decreased sharply, to 3,868 vehicles of all kinds (down 2,480 vehicles compared to the same period in March).Of which, there were 1,292 vehicles with less than 9 seats, a decrease of more than 3,500 vehicles compared to the first 15 days of March 2017.

However, in terms of customs declaration price, each imported car is more than twice as high after just one month.

Specifically, if the average import price of a car with less than 9 seats in the first half of March 2017 was about 198 million VND per car, then by April this price had increased to 450 million VND (about 19,600 USD per car). The above price does not include taxes, fees...

The customs declaration price of imported cars to Vietnam in the first half of April 2017 more than doubled, to an average of 450 million VND per car.

NestThe Customs Department also said that from the beginning of the year to mid-April, the whole country hadimported more than 30,340 cars of all kinds, of which more than half - over 17,600 cars were cars with less than 9 seats, 10,575 trucks, the rest were cars with more than 9 seats... with a total import value of more than 587.9 million USD.

Recently, it has been recorded that cheap cars from some ASEAN markets such as Thailand, Indonesia, India... were imported to Vietnam in large quantities in the first 3 months of the year. According to the General Department of Customs, in the first 3 months of the year, there were more than 4,400 Indonesian cars imported to Vietnam, a 5-fold increase compared to the same period last year.

Thai cars continue to hold the top position among Vietnam’s imported car markets with more than 10,000 imported cars compared to 7,800 cars in the same period last year, an increase of more than 1,200 cars. Nearly half of the imported Thai cars are pickup trucks.

In the first 3 months of last year, only 1,172 cars were imported from India, but in the first 3 months of this year, the number of imported cars reached nearly 4,800 cars, more than 4 times the same period last year. The imported cars from India are mainly those with less than 9 seats.

With the sharp increase in imported cars, the management agency also noticed that imported cars in many markets, especially India, have low customs declaration prices. In order to avoid trade fraud, the General Department of Customs has directed functional units to review the declared prices of businesses for this item.

According to VNE