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Vietnam increases car imports in the first half of June. Photo: T.T. |
The latest report from the General Department of Customs shows that in the first half of June, the total number of imported cars in Vietnam reached 4,838 units with a total value of over 136 million USD.
Compared to previous reporting periods, the volume of completely imported cars into Vietnam has shown significant improvements after a sharp decline in the first reporting period of May.
In the first half of June, a total of 3,576 cars with 9 seats or less completed customs clearance procedures at Vietnamese ports. This group of vehicles still accounts for the largest proportion both in terms of quantity and value when in the latest reporting period, the value of imported cars with 9 seats or less into Vietnam exceeded 82 million USD.
In addition to the aforementioned cars with 9 seats or less, the first half of June also recorded an additional 726 imported transportation cars in Vietnam alongside a small number of cars with more than 9 seats.
| Car imports into Vietnam warming up again | ||||||||
| Imported car volume into Vietnam in recent reporting periods (Data: General Department of Customs) | ||||||||
| Label | March period 1 | March period 2 | April period 1 | April period 2 | May period 1 | May period 2 | June period 1 | |
| Total volume of completely imported cars | units | 7285 | 7943 | 6233 | 6090 | 3257 | 4269 | 4838 |
Accumulated from the beginning of the year, the number of completely imported cars into Vietnam reached 66,760 units with a total value of over 1.53 billion USD. Cars with 9 seats or less accounted for the largest proportion with a total of 52,873 units completing customs clearance procedures and a value of approximately 1.14 billion USD as of June 15th.
It is likely that the improvement in the recent period of car imports into Vietnam is due to the market beginning to show optimistic signs.
The latest report from the Vietnam Automobile Manufacturers’ Association (VAMA) shows that in May, although still experiencing a decline in sales, the overall decline in the Vietnamese automobile market reached only 8%.
Specifically, assembled cars achieved a sales volume of 12,079 units in the latest reporting period, a 9% decrease compared to the previous month. Regarding imported cars, the sales volume of 8,647 units in May is only equivalent to a 5% decrease compared to the previous reporting period.
With the preferential policy of reducing registration fees for locally assembled cars most likely taking effect from the beginning of July, the Vietnamese automobile market is expected to regain its growth momentum after two consecutive months of declining sales.
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