Last week, Vietnam imported only 3 cars.
In the last week of January 2018, the number of imported cars into Vietnam reached a total of 23, including 3 cars with less than 9 seats.
According to the latest statistics from the General Department of Customs, in the week of January 26-February 1, only 23 completely built-up cars opened customs declaration nationwide, with a total value of nearly 1.66 million USD. The above mentioned cars do not include vehicles with more than 9 seats and trucks.
The number of vehicles with less than 9 seats that opened customs declarations was only 3, originating from Korea. These 3 vehicles have a total value of 56,400 USD and were imported through the southern border gates.
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| Imported cars continue to decline in Vietnam. |
The other 20 vehicles imported this time are all tractors, originating from the US. These vehicles are worth 1.6 million USD.
According to the report, the country imported nearly 15.2 million USD worth of auto parts and accessories during the week. This group of goods was mainly imported from Japan, worth more than 7 million USD, from Germany worth 2.6 million USD, from Korea worth 1.9 million USD and from Thailand worth 1.7 million USD.
Compared to the same period last year, the number of imported cars to Vietnam has decreased sharply. In the first half of January, the number of imported cars to Vietnam was only 60, of which 6 were cars with less than 9 seats. In January 2017, the number of imported cars reached more than 7,000.
Imported cars have declined sharply since the beginning of 2018 due to the impact of Decree 116 issued in October last year. Regulations on vehicle type certificates have made it impossible for car importers to immediately comply, leading to a situation where they cannot import cars for sale.
In December 2017, the number of imported cars into Vietnam increased dramatically compared to previous months, because some car companies took advantage of importing the remaining quantity of goods sold at the beginning of the year, before Decree 116 took effect from January 1, 2018.
In addition, Decree 116 also almost put an end to the operations of small, unofficial car import companies. This contributed to reducing the number of imported cars into Vietnam.
Recently, the Ministry of Transport issued Circular 03, guiding the implementation of Decree 116, however the situation is still not very optimistic for car importers. Many car companies said they could not import cars for sale due to difficulties with paperwork.
According to forecasts by many industry experts, the shortage of imported cars in Vietnam may last until the second quarter of this year.
