Vietnam only imports 6 cars in half a month

Pre-Tet sales of dealers were significantly affected due to lack of imported cars to sell to customers.

According to the General Department of Customs, the total number of imported cars including cars with less than 9 seats, cars with more than 9 seats and trucks in the first half of this year was 80, of which only 6 cars with less than 9 seats were imported.

Compared to the previous half month from December 16 to 31, 2017, the number of imported cars to Vietnam increased 1,000 times. Specifically, in the last 15 days of December 2017, the whole country imported 6,599 completely built-up cars of all kinds, of which 2,866 were cars with less than 9 seats.

Compared to the same period last year, in the first half of 2017, the country imported 4,926 completely built-up cars of all kinds, of which 3,704 were cars with less than 9 seats.

Both major Japanese car corporations, Toyota and Honda, have just announced a temporary suspension of car imports into Vietnam. The reason is explained by Decree 116 of the Government that has just taken effect since the beginning of this year. Also from January 1, 2018, import tax on cars from ASEAN countries to Vietnam will be reduced from 30% to 0% if the minimum localization rate is 40%.

According to car dealership owners, sales before Tet were significantly affected because there were no imported cars to sell to customers even though they had been ordered in advance. This is also one of the reasons why imported car prices did not decrease, but even increased, unlike forecasts from 2017.