Car sales in Vietnam down 2% m/m in January
In January, Vietnam imported a total of 11,658 cars worth US$274 million, up 47-fold compared to the same period of last year.
Car sales Vietnam are reported at 33,484 units in January, down 2% month-on-month but up 27% against the same period of last year, according to a monthly report by Vietnam Automobile Manufacturers Association (VAMA).
Illustrative photo.
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Sales of domestically assembled cars reached 18,799 units last month, down 12% compared to last month, while imported completely-built-units (CBUs) were 14,685 units, up 14%.
In January, Vietnam imported a total of 11,658 cars worth US$274 million, up 47-fold compared to the same period of last year at 247 cars and nearly double the average monthly import number of 6,800 cars in 2018.
The result marked the fifth consecutive month since September 2018 that Vietnam has imported over 10,000 cars per month.
Statistics also showed that Vietnam mainly imported under-nine-seat cars with 7,862 units, accounting for 67% of totals, followed by trucks 3,452 units or 30%, and the remaining were over-nine-seats cars and special-purpose vehicles.
Notably, cars bought from Thailand and Indonesia accounted for 87% of the total imported into Vietnam last month, reaching 7,345 units from Thailand, and 2,761 units from Indonesia, according to the General Department of Vietnam Customs (GDVC).
The high number of imported cars led to an increase in customs revenue in some provinces and cities, particularly Ho Chi Minh City's customs revenue reached VND11.66 trillion (US$505.43 million), equivalent to 10.72% of the target at VND108.8 trillion (US$4.71 billion).
The municipal’s customs revenue in January increased by 20% year-on-year, thanks to a US$272 million increase in imports compared to the same period of last year. The figure of under-nine-seat cars increased by 21.6 million alone during the period, significantly higher than the number of US$152,000 recorded in last January.
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