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Vietnam witnessed a significant surge in the supply of imported automobiles during March, as indicated in the latest report from the General Department of Vietnam Customs. |
According to the report, a total of 15,860 completely built-up (CBU) automobiles of various types were imported into Vietnam in March, with a total import turnover of over $330 million. Compared to the previous month, the import volume and value of automobiles into Vietnam increased by 64.4% and 62.3%, respectively.
From the beginning of the year until the end of March, the total number of CBU automobiles imported into Vietnam reached 32,272 units, with a total import turnover of more than $675 million. Notably, the import volume in March alone accounted for nearly half of the total import volume of CBU automobiles during the first quarter of the year.
Indonesia maintained its position as the largest supplier of automobiles to the Vietnamese market. From the beginning of the year until now, a total of 14,762 CBU automobiles of Indonesian origin were imported into Vietnam, with an import turnover of over $213 million.
| Automobiles of Indonesian origin dominate the group of imported vehicles in Vietnam | ||||||
| Import volume of CBU automobiles into Vietnam in the first quarter, by country (Source: General Department of Vietnam Customs) | ||||||
| Label | Indonesia | Thailand | China | Japan | USA | Other countries |
| Units | 14,762 | 10,420 | 5,821 | 444 | 235 | 590 |
Thailand also exported 10,420 CBU automobiles to Vietnam, with an import turnover of nearly $204 million. In terms of average import value, Thai-imported vehicles (approximately $19,577/unit) held a slight edge over Indonesian-imported vehicles (around $14,459/unit).
During the same period, the import volume of CBU automobiles from China was 5,821 units, with an import turnover of nearly $177 million. Additionally, 235 CBU automobiles were directly imported from the USA, with an import turnover of almost $7.8 million.
The import volume of CBU automobiles from Japan to Vietnam in the first quarter stood at 444 units, and this group also had the highest average import value at approximately $73,910/unit.
This can be attributed to the typically high selling prices of Japanese-imported automobiles in the Vietnamese market. Notable examples include the Lexus brand, along with models such as the Toyota Alphard (VND 4.37 billion), Toyota Land Cruiser (VND 4.286 billion), Honda Civic Type R (nearly VND 2.4 billion), and the recently introduced Suzuki Jimny, priced at VND 789 million.
Overall, the increased import activity by automobile manufacturers in the last month of the first quarter could be an indication of a recovering Vietnamese automobile market. The typically quiet period after the Lunar New Year seems to be ending sooner than expected, and the Vietnamese automobile market is likely to witness more positive developments in the near future.
According to the Vietnam Automobile Manufacturers’ Association (VAMA), as of the end of February, the total sales volume of Vietnam’s automobile market reached 30,876 units, a 23% decrease compared to the same period in 2023.
The sales volume of domestically assembled vehicles reached 16,445 units in the first two months of the year, equivalent to a 27% decrease. Meanwhile, the consumption volume of imported automobiles also decreased by 19% over the same period last year, reaching 14,431 units.
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Ford Ranger temporarily holds the title of the best-selling automobile in the entire Vietnamese market as of the end of February. Photo: Vinh Phuc. |
As of the end of February, the Ford Ranger was the best-selling model in the Vietnamese market, with 2,023 units sold. Following closely behind was the Mitsubishi Xpander, with a sales volume of 1,925 units during the first two months of the year.
Out of the total 1,925 Xpander units sold in Vietnam during this period, 1,787 units were imported as CBU vehicles from Indonesia by the Japanese automobile manufacturer, accounting for nearly 93% of the total. In contrast, only 139 units of the Mitsubishi Xpander sold in Vietnam during this period were of domestic origin.
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