i10 imported from India to Vietnam reduced by half, only 230 million VND/car

The price of imported Indian cars to Vietnam suddenly decreased by half compared to September, from 480 million VND to only 230 million VND/car.

The latest data on the import of complete cars of all types to Vietnam in November and the first 11 months of the year from the General Department of Customs shows that the price of imported cars from India is currently half cheaper than in September 2017.

Specifically, in November, 75 Indian cars with a total value of 750,991 USD were imported to Vietnam. This number decreased sharply compared to the same period last year, which was 3,300 cars.

The reason for the sharp decrease in imported cars is that a series of Hyundai i10 cars have been assembled in Vietnam, so domestic importers have stopped importing this type of car from India.

In November 2017, each Indian car imported to Vietnam cost about 10,013 USD, equivalent to 230 million VND/car. This price is surprising because it has decreased sharply compared to September when it was 480 million VND/car.

Car prices imported from India have halved compared to September 2017.

In the first 11 months of the year, Vietnam imported 5,570 cars from India at an average price of 6,100 USD/car (equivalent to 134 million VND/car). Currently, this is the cheapest import market.

Along with India, Thailand and Indonesia continue to be the markets for importing cheap cars. The average price in the first 10 months of the year, imported cars from Thailand were 18,357 USD/car (over 416.7 million VND/car) and from Indonesia was 17,665 USD/car (401 million VND/car).

In addition, the highest prices for imported cars come from some Western countries. On average, an imported car from France costs 222,000 USD (equivalent to 4.9 billion VND); from Germany it costs 57,900 USD/car (equivalent to 1.27 billion VND/car); from Russia it costs 52,100 USD/car (equivalent to 1.15 billion VND); from Canada it costs 68,500 USD/car (equivalent to 1.5 billion VND/car); from the UK it costs 60,700 USD/car (equivalent to 1.33 billion VND/car).

Other figures from the General Department of Customs show that in November, the entire market imported 6,422 completely built-up cars of all kinds with a total value of 186 million USD, on average, each imported car cost 29,000 USD/car, equivalent to 638 million VND/car.

If calculated in the first 11 months of the year, the number of imported cars to Vietnam was 83,585, with a total value of 1.88 billion USD, the average price was 22,500 USD/car, equivalent to 495 million VND/car.

Of which, the number of imported cars from Thailand accounted for the largest number with 30,176 vehicles, followed by Indonesia with 16,694 vehicles, and China with 10,079 vehicles.

Some countries from which Vietnam imports many complete cars include South Korea with 7,538 cars (worth 168 million USD); India with 5,570 cars (worth 34 million USD); Japan with 2,872 cars (worth 97 million USD); the US with 2,992 cars (worth 85 million USD)...

According to VNN