Import tax in many countries down to 0%, how much do cars cost in Vietnam?
Import tax on completely built-up cars from many ASEAN countries to Vietnam has been reduced to 0% since the beginning of 2018. Currently, the average price of a completely built-up imported car is 500 million VND/car.
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The average import price of completely built-up cars with less than 9 seats in March was 441 million VND/car. |
According to preliminary statistics of the General Department of Customs in the first quarter, the country imported nearly 40,000 complete cars of all kinds; the total value was883 million USD. If divided on average, the price of imported cars to Vietnam in the first quarter is about 500 million VND/car. Currently, the import tax on complete cars from some ASEAN countries such as Thailand, Indonesia, Malaysia... to Vietnam has decreased to 0%.
In March alone, imported cars of all kinds into Vietnam mainly came from 3 main markets: Thailand with 9,214 cars, Indonesia with 2,471 cars and China with 576 cars. The number of cars imported from these 3 markets accounted for 93% of the total number of cars imported into Vietnam in the month.
If only counting cars with 9 seats or less, in March there were 9,477 cars imported into Vietnam with a value of190 million USD, accounting for 71.5% of imported complete cars of all kinds. Thus, if divided on average in March, the price of cars under 9 seats is about 441 million VND/car.
Similarly, Vietnam also imported 3,240 trucks of various types with a value of77.1 million USDIn March, all types of trucks were registered for import declarations mainly at the Hai Phong port border gate area with 1,874 units and in Ho Chi Minh City with 1,376 units.
The first quarter of this year saw a sharp increase in the number of imported cars compared to the same period last year. In early 2018, cars encountered difficulties in the procedures for importing cars according to Decree 116 of the Government.
