Before Tet, imported cars to Vietnam decreased sharply

In the whole month of November, only 592 cars with less than 9 seats were imported to Vietnam, while in the same period last year, the number of cars arriving at the port was more than 6,700.

Figures recently released by the General Department of Customs show that the trend of importing complete passenger cars with less than 9 seats has decreased sharply in the last months of 2017.

In the whole month, the number of imported cars of all types increased by 10% in quantity and 20% in price compared to the previous month. However, if calculated cumulatively for 11 months, it decreased by 15.4% in quantity and 12.3% in price compared to the same period last year.

Imported cars to Vietnam decreased sharply in the last months of the year.

Of the more than 6,400 cars imported to Vietnam, only 592 were passenger cars with less than 9 seats. The number of imported cars decreased by more than 6,000 compared to the same period in November 2016. Thus, if last year, more than half of the cars imported to Vietnam were passenger cars with less than 9 seats, now they only account for a small number.

Car imports have started to decline sharply since September this year, partly due to the decline in domestic car consumption. In addition, imported cars are also selling more difficultly than before due to the continuous price reduction race from domestic car manufacturers and assemblers.

The number of imported cars of all kinds from India and South Korea has also decreased sharply compared to the beginning of the year. In November, there were only 75 cars from India while in the same period last year there were more than 3,300 cars. The main reason for the sharp decrease in imported cars from India is that importers have stopped importing Hyundai i10 cars from this country because they have assembled them in Vietnam.

Meanwhile, imported cars from Thailand and Indonesia remained quite stable. According to the General Department of Customs, in November, more than 1,300 cars were imported from Thailand and 575 cars arrived from Indonesia. Since the beginning of the year, nearly 47,000 cars of all kinds have been imported from these two markets to Vietnam.

According to VNE