Việt Nam imported 11,172 cars between January and September, up 5,142 units from the same period last year.
Automobile imports from ASEAN countries increased sharply in recent months. — Photo VnEconomy
According to General Department of Việt Nam Customs statistics, more than 10,800 – 92 per cent – were imported from Thailand and Indonesia. The remainder came from Japan, the US and Germany.
Cars with nine or fewer seats shipped to ports in HCM City accounted for more than 51 per cent of total car imports to Việt Nam. Of these smaller vehicles, 93.5 per cent came from Southeast Asian countries and benefited from the regional import duty exemption, in line with the ASEAN countries’ commitments to lower tariffs from 2018.
It’s predicted that tens of imported auto models will enter the Vietnamese market in the last months of the year, including Mitsubishi Xpander, Mazda BT 50, Ford Everest, Toyota Wigo, and Honda HR-V.
Vietnamese businesses spent US$2.5 billion importing auto parts in the period.
Japan was the largest source of imported car components, with Japanese imports valuing at $591 million for the first nine months of the year. Japan was followed by South Korea at $560 million and China at $465 million.
Việt Nam Customs said that most of these parts were engines, chassis and specialised technology that cannot be made in Việt Nam unless manufacturers invest in transferring manufacturing technology to the country.
The parts from Thailand, India and Indonesia were mostly electric cables and steel imported by Toyota, Ford and Nissan for use by domestic car makers.
Vietnamese businesses also imported tires, rubber and leather for use in trucks and passenger cars. Electrical equipment was imported from China. — VNS