Vietnam imported over 1,800 passenger cars from Indonesia in one month.

The volume of passenger cars imported from ASEAN countries surged immediately after the start of 2017, with imports from Indonesia alone increasing tenfold compared to December 2016.

Preliminary statistics from the General Department of Customs show that in the first month of 2017, the volume of passenger cars with fewer than 9 seats imported from the ASEAN region increased by more than 230% compared to the first month of 2016.

Number of passenger cars (under 9 seats) imported from the ASEAN region in 2015, 2016, and January 2017. Source: General Department of Customs.

Specifically, in January 2017, the number of passenger cars with fewer than 9 seats imported from the ASEAN region reached over 3,400 units, accounting for approximately 63% of the total number of cars imported from all markets (5,400 units). Also...In just the first month of the year, the number of imported complete passenger cars reached 45% of the total imports for the entire year of 2016.

"This is partly due to the fact that from January 1, 2017, the import tax rate on passenger cars with fewer than 9 seats originating from the ASEAN region was adjusted down from 40% to 30%," the General Department of Customs stated.

The agency also stated that imported passenger cars with fewer than nine seats from the ASEAN region originate only from Thailand and Indonesia. Imports from Thailand reached 1,585 units in January, valued at $31 million, representing a 55% increase in volume and a 209% increase in value compared to the same period last year. Imports from Indonesia surged to 1,823 units, valued at $35 million (compared to only one unit valued at $10,000 in the same period last year). The majority of these vehicles are Toyota Fortuner models, after the Japanese automaker switched from assembling this model in Vietnam to importing it from Indonesia.

Monthly import volumes of passenger cars with fewer than 9 seats originating from Indonesia and Thailand from January 2016 to January 2017. Source: General Department of Customs.

According to preliminary statistics from the General Department of Customs, in January 2017, the whole country imported nearly 7,400 complete automobiles of all types (including cars with 9 seats or fewer, cars with more than 9 seats, transport vehicles and other types of vehicles) with a total value of 153 million USD, an increase of 25.5% in quantity and only 4% in value compared to the first month of 2016. This also means that the average price of imported cars into Vietnam is trending downwards.

Number of imported complete automobiles of all types during the period 2010-2016. Source: General Department of Customs.

In the first month of 2017, ASEAN remained the largest supplier of complete automobiles of all types to Vietnam. Thailand led with 2,605 units, followed by Indonesia with 1,823 units; India with 1,006 vehicles...

According to VNE