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Nearly 16,500 imported automobiles entered Vietnam in the first two months of the year. Photo: T.T. |
The latest report by the General Department of Customs shows that as of the end of February, a total of 16,452 imported automobiles of all kinds have entered Vietnam, with a total import value of over 345 million USD. Compared to the same period last year, imported automobiles to Vietnam have decreased by 38.5% in volume and 39.7% in import value.
As of the end of February, Indonesia is temporarily the country supplying the most automobiles to the Vietnamese market. Figures from the General Department of Customs show that 7,088 automobiles have been imported into Vietnam from the archipelago nation with a total import value of nearly 100 million USD.
Meanwhile, with a total of 5,646 vehicles, Thailand is the second largest country in terms of the number of automobiles imported into Vietnam in the first two months of the year. However, the total import value of the group of completely built-up automobiles from Thailand ranks above other countries when exceeding 112 million USD, equivalent to an average value of nearly 20,000 USD per imported vehicle.
| Vietnamese people prefer imported cars from Indonesia, Thailand | |||||||
| Number of imported automobiles into Vietnam in the first two months of the year, by country (Data: General Department of Customs) | |||||||
| Label | Indonesia | Thailand | China | Japan | USA | Other countries | |
| Vehicles | 7088 | 5646 | 2912 | 207 | 171 | 428 |
During the same period, Vietnam also recorded a total of 2,912 automobiles imported as complete units from China. With a total import value of over 81 million USD, the average value of automobiles imported from China in the first two months of the year is nearly 28,000 USD. It is known that automobiles imported from China are mostly commercial vehicles that have higher selling prices than passenger cars, therefore the average import value of automobiles from the billion-dollar country is often higher than automobiles imported from Indonesia or Thailand.
Despite recording only 207 imported vehicles to Vietnam since the beginning of the year, the import value of the group of imported automobiles from Japan has reached nearly 18 million USD, equivalent to an average value of over 85,000 USD/vehicle. Imported cars from the US also have an average value of more than 34,000 USD/vehicle when the total number of vehicles completing customs clearance in the first two months of the year reached 171 vehicles with an import value of nearly 6 million USD.
Overall, the number of imported automobiles into Vietnam is somewhat lower than in the same period last year. The slowdown in automobile imports is likely due to the rather gloomy situation in the Vietnamese automobile market, where automobile sales have fallen by approximately 50% compared to the reporting period of December 2023.
Unfavorable sales may be the reason why car companies have to proactively adjust their supply, by limiting automobile imports as well as reducing domestic production. This move aims to preserve and accumulate resources for car companies, awaiting the next wave of shopping by Vietnamese customers.
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