Vietnam imported more than 1,800 cars from Indonesia in one month.

The number of imported cars from ASEAN countries skyrocketed right after entering 2017, with cars from Indonesia alone increasing dozens of times compared to December 2016.

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

Number of imported cars with less than 9 seats from ASEAN region in 2015, 2016 and January 2017. Source: General Department of Customs

Specifically, in January 2017, the number of cars with less 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 cIn just the first month of the year, the number of imported cars was equal to 45% of the total import volume of 2016.

"The reason is partly because from January 1, 2017, the import tax rate for cars with less than 9 seats originating from the ASEAN region was adjusted down from 40% to 30%," the General Department of Customs said.

The agency also said that cars with less than 9 seats imported from the ASEAN region were only from Thailand and Indonesia. Of which, the number of cars imported from Thailand reached 1,585 in January, worth 31 million USD, up 55% in volume and 209% in value compared to the same period last year. The number of cars originating from Indonesia increased dramatically to 1,823 cars, worth 35 million USD (in the same period last year there was only one car, worth 10,000 USD). Most of these cars were Toyota Fortuner, after the Japanese car company switched from assembling this car line in Vietnam to importing from Indonesia.

Import volume of cars with less than 9 seats from Indonesia and Thailand by month 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 country imported nearly 7,400 complete cars of all types (including cars with 9 seats or less, cars with 9 seats or more, transport cars and other types of cars) with a total value of 153 million USD, an increase of 25.5% in volume and only 4% in value compared to the first month of 2016. This also means that the average price of cars imported to Vietnam tends to be cheaper.

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

In the first month of 2017, ASEAN remained the largest market supplying completely built-up cars of all types to Vietnam. Thailand took the lead with 2,605 cars, followed by Indonesia with 1,823 cars; India with 1,006 cars...

According to VNE