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The Ford Everest is one of the models imported completely built-up (CBU) from Thailand. Photo by: Bối Hạ. |
According to the latest report from the General Department of Vietnam Customs, in May, the Vietnamese automobile market imported a total of 14,491 completely built-up (CBU) cars from abroad. This group saw a 29.2% increase in volume and a 21.7% surge in trade value compared to the previous month’s report.
Notably, Thailand continues to trail Indonesia in terms of total car exports to Vietnam. According to data provided by the General Department of Vietnam Customs, in May, a total of 5,089 CBU cars of Thai origin completed customs procedures to enter Vietnam, with a total trade value of over $90 million.
During the same period, Indonesia exported a total of 6,333 CBU cars to Vietnam, with a total trade value of over $93 million.
In April, the total number of CBU cars imported from Thailand was 2,986 units, with a total trade value of over $62 million. Indonesia’s corresponding figures for the same month were 5,138 units and over $73 million, respectively.
Cumulatively, from the beginning of the year, Indonesia is temporarily the leading country in terms of total car exports to Vietnam, with 26,233 cars arriving at Vietnamese ports, and a total trade value of over $380 million. Meanwhile, the number of cars of Thai origin imported into Vietnam in the first five months reached 18,495 units, with a total trade value of over $357 million.
| Indonesia surpasses Thailand in total car imports | ||
| Comparison of total CBU car imports from Thailand and Indonesia in the first five months (Data source: General Department of Vietnam Customs) | ||
| Label | Cars Imported from Indonesia | Cars Imported from Thailand |
| 26,233 | 18,495 |
Recent developments suggest that Thailand is at risk of losing its position as the “regional automotive hub” to neighboring countries such as Indonesia or Malaysia. Data from the ASEAN Automotive Federation (AAF) shows that as of the end of April, the total car production in Thailand reached 518,790 units, a 17% decrease compared to the same period last year.
Indonesia recorded a total of 367,802 cars manufactured during the same period, a decline of 21.3%. Meanwhile, Malaysia’s automotive industry witnessed notable growth, with domestic car production increasing by 11.6% year-on-year to reach 267,326 units.
Mr. Kriengkrai Thiennukul, President of the Federation of Thai Industries (FTI), shared with the Bangkok Post that the Thai automotive industry is facing challenges due to stagnant domestic sales and declining export performance compared to other regional countries.
“We have lost the title of ‘Detroit of Asia’ to Malaysia,” Mr. Kriengkrai Thiennukul told the Bangkok Post.
Currently, the Vietnamese automobile market features several prominent models imported CBU from Thailand, such as the Ford Everest, Honda CR-V e:HEV RS, Ford Ranger Raptor, Ford Ranger Stormtrak, Honda HR-V, and Mazda2.
Looking ahead, Subaru and Suzuki, Japanese automobile manufacturers, have confirmed plans to shut down their car factories in Thailand. From 2025, the Subaru Forester sold in Vietnam will be imported CBU from Japan, while the fate of the Suzuki Ciaz and Suzuki Swift remains uncertain.
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