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According to the General Department of Vietnam Customs, a total of 18,405 completely built-up (CBU) automobiles were cleared for import into Vietnam in September, with a value of nearly 378 million USD.
Compared to the previous month, the number of imported automobiles increased by 22.2%, while the trade value rose by 26.4%.
Specifically, in September, Vietnam imported an additional 2,348 automobiles of Chinese origin, bringing the total number of Chinese automobiles imported so far this year to 21,948 units.
In September of last year, Vietnam imported only 741 automobiles from China. The number of vehicles imported from the country during the first three quarters of 2023 was also modest, standing at 7,712 units.
| Surging Import of Chinese Automobiles to Vietnam | |||
| Import of Completely Built-Up (CBU) Automobiles from China: Comparison between the First Nine Months of 2023 and 2024 (Source: General Department of Vietnam Customs) | |||
| Label | First Nine Months of 2023 | First Nine Months of 2024 | |
| Units | 7712 | 21948 |
The significant increase in the import of automobiles from China in 2024 is likely due to the entry of Chinese passenger car brands, in addition to the already existing specialized vehicle manufacturers.
Vietnamese consumers now have a range of Chinese passenger car brands to choose from, including Lynk & Co, Haval, MG, BYD, GAC, and soon, Omoda, Jaecoo, Aion, and Zeekr. Most of these brands choose to import their products from China in the initial phase, while some others source their vehicles from Southeast Asian countries such as Thailand or Indonesia.
In the first three quarters of the year, the total number of CBU automobiles imported into Vietnam reached 124,893 units, with a trade value of over 2.5 billion USD. Both the quantity and trade value of imported automobiles have increased compared to the same period last year.
Indonesia remains the top supplier of imported automobiles to Vietnam, with a total of 50,890 units in the first nine months. Thailand comes in second, with 47,580 units imported during the same period.
As for imports from other countries, 2,021 Japanese automobiles and 519 American automobiles were cleared for import into Vietnam in the year so far.
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Indonesia is currently the largest source of imported automobiles for the Vietnamese market. Photo: Vĩnh Phúc. |
Following the release of the September report by the Vietnam Automobile Manufacturers’ Association (VAMA), the sales balance has tipped back in favor of domestically assembled vehicles after witnessing the dominance of imported automobiles for several consecutive months.
In the first nine months of the year, 113,641 domestically assembled vehicles were sold in Vietnam, while the sales figure for imported vehicles stood at 111,942 units. Compared to last year, the sales of domestically assembled vehicles decreased by 7.5%, while the sales of imported vehicles increased by 28.5%.
One of the best-selling models in Vietnam, the Mitsubishi Xpander, has sold 12,956 units so far. Of these, 11,779 units were imported from Indonesia, accounting for nearly 91% of the total sales of this model.
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