The Rush for Imported Cars: Over 8,400 Vehicles Arrive in Vietnam in Just Two Weeks

According to the latest report from the Customs Department under the Ministry of Finance, in the first half of July, Vietnam spent a total of 196 million USD on importing 8,407 completely built-up vehicles of various types.

The group of cars with 9 seats or less continued to dominate with 6,038 units arriving at Vietnamese ports during the period from July 1st to July 15th.

Cumulative from the beginning of the year, Vietnam has completed the import of 111,205 completely built-up vehicles of various types. The total turnover value of this group of goods reached over 2.428 billion USD by mid-July.

According to the report of the Customs Department, the group of cars with 9 seats or less imported into Vietnam reached 84,383 units so far. The turnover value exceeded 1.49 billion USD.

Last year, the volume of completely built-up imported cars in Vietnam in the period of July 1-15, 2024 reached 82,557 units, with a total turnover value of over 1.7 billion USD. Thus, the group of completely built-up imported cars in Vietnam has grown in both volume and turnover value compared to the same period last year.

This trend generally aligns with the introduction of many new imported car models in Vietnam in recent times.

Since the beginning of the year, Vietnamese customers have been introduced to many new car options, mostly imported products from Chinese brands.

The Jaecoo J7 and Geely Coolray are among the models that were early to market in Vietnam this year. The Suzuki Swift returned to Vietnam with a hybrid engine, and the Lynk & Co 06 introduced a more affordable version after removing the ADAS package.

The BYD Atto 2 was launched to offer another choice for Vietnamese customers in the B-segment SUV market, while the MG G50 joined the mid-sized MPV segment. The Geely Monjaro and Geely EX5 were also recently introduced earlier this month.

A variety of new imported cars in Vietnam. Photo: Dan Thanh

In the luxury car segment, the GLS 450 4MATIC facelift and the Mercedes-Maybach GLS 600 facelift were introduced in Vietnam at a private exhibition event. Audi brought in the electric Q6 e-tron, along with the surprise launch of the Audi A5 sedan.

In the future, the Vietnamese market is expected to remain vibrant with a series of new imported cars planned to be launched by automakers. This includes the Ford Mustang Mach-E, the electric version of the iconic American muscle car, as well as Chinese models such as the Omoda C7 and Jaecoo J6.

The Mitsubishi Destinator, a potential direct replacement for the Mitsubishi Outlander in the C-segment SUV market, has just been officially launched in Indonesia and is expected to arrive soon in Vietnam. Unlike the domestically assembled Outlander, the Destinator will be imported, similar to its “junior” sibling, the Mitsubishi Xforce.

Moreover, the potential reduction of import taxes on goods from the US, including automobiles, to 0% opens up opportunities for a range of “pure American” cars to enter the Vietnamese market. Some notable models include the Ford F-150, Ford Bronco, Dodge Charger, as well as vehicles from Tesla and Mercedes-Benz that are manufactured in the US.

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