Will imported cars continue to increase?

In the past 7 months, Vietnam's car imports have increased dramatically, with a turnover value equivalent to 3.4 billion USD, an increase of 87.9%, of which completely built-up cars increased by 154.4%.

The latest update from the General Statistics Office shows that the import turnover of completely built-up cars and auto parts and components has increased sharply. In the first 7 months of the year, the number of imported cars continued to increase, equivalent to 3.4 billion USD, up 87.9% over the same period last year, of which imported completely built-up cars increased by 154.4%.

The value of automobile imports in the past 7 months is exactly equal to the country's trade deficit of 3.4 billion USD at the same time. Meanwhile, the average import price of all types of completely built-up automobiles (except for vehicles with less than 9 seats) increased by 16.7% over the same period.

The General Statistics Office estimates that the total number of imported cars from the beginning of the year to date has reached about 65,000, equal to the estimated number of imported cars in 2015 with a total value of 1.723 billion USD, corresponding to an increase of 107.7% in the number of cars and 154.4% in value compared to the same period last year. Of these, there are about more than 22,000 imported cars with less than 9 seats, with a turnover of 261 million USD, an increase of 61% in quantity and 57% in value compared to the same period last year.

The value of car imports in the past 7 months is exactly equal to the country's trade deficit of 3.4 billion USD at the same time. (Photo: Internet)

Complete cars are mainly imported by Vietnam from Japan, Korea, China, Thailand and India. Vietnam mainly imports complete trucks from China and personal passenger cars from Japan and Korea. India has recently exported many complete cars with less than 9 seats to Vietnam, with the Hyundai Grand i10 model being the typical model. Vietnam mainly imports pickup trucks from Thailand.

The Vietnam Automobile Manufacturers Association (VAMA) also said that in the first 6 months of the year, more than 60,100 passenger cars, more than 37,300 commercial vehicles and more than 6,000 specialized vehicles were sold on the market, bringing the total car consumption of the whole country to nearly 103,500 cars of all kinds, an increase of 58% over the same period last year./.

According to Vov.vn