Imported cars unexpectedly increase sharply at the end of the year

The number of imported cars reached more than 7,000 vehicles in the first half of December 2017, an increase of 100% over the same period last month.

According to the latest report of the General Department of Customs, in the first half of December 2017, 7,048 completely built-up (CBU) cars were imported into Vietnam with a total value of over 192 million USD.

It is estimated that the number of imported cars in the first half of December 2017 increased by more than 100% compared to the same period last month (3,496 cars). With a value of more than 192 million USD of imported cars in the first half of December 2017, the domestic car import turnover as of December 15, 2017 has reached 2 billion USD. Thus, the number of imported cars increased dramatically compared to the same period last month.

The number of imported cars in the first half of December also increased dramatically. Of which, cars with less than 9 seats reached 991 units, an increase of more than 300% compared to the same period last month (325 cars), 4,850 trucks, and only 19 cars with more than 9 seats.

Accumulated from the beginning of the year to December 15, the total number of imported complete cars reached 90,611 vehicles, with a total turnover value of nearly 2.1 billion USD. Of which, cars with less than 9 seats were 35,977 vehicles (accounting for nearly 40%), trucks were 41,845 vehicles, and cars with more than 9 seats were 604 vehicles.

Commenting on the sudden increase in the number of imported cars in early December 2017, experts said that the demand for domestic cars is increasing, and adding more imported car supply at this time will help stabilize the car market at the end of the year.

The increased supply of imported cars at this time will avoid price increases, "price gouging" or having to buy additional accessory packages when buying a car...

In addition, another reason given by experts is that the sudden increase in imported cars in the first half of December was mainly to "run" Decree 116 of the Government, to collect goods to sell during Tet and the first quarter of 2018. Because with the regulations in Decree 116, at least in the first quarter of 2018, imported cars will be very difficult to enter Vietnam because it takes time to prepare the necessary conditions and procedures to meet the implementation of Decree 116/2017 ND-CP of the Government with new regulations on business conditions and car imports./.

According to VOV