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A decrease in vehicles arriving in Vietnam was observed in April. Photo: T.T |
According to the latest report from the General Department of Vietnam Customs, a total of 11,565 completely built-up (CBU) automobiles were imported into Vietnam in April, with a trade value of over $255.6 million.
This marks a decline compared to the figures from March, where 15,862 CBU units were imported.
For the first four months of the year, the total number of imported vehicles reached 43,805 units, with a total value of $929.4 million. This represents a decrease of 19.4% in volume and 23.5% in value compared to the same period last year.
| Import volume drops | |||||
| Statistics on car imports into Vietnam from January to April this year (source: General Department of Vietnam Customs) | |||||
| Label | January | February | March | April | |
| Units | 6,908 | 9,649 | 15,862 | 11,565 |
Indonesia led the pack in terms of import volume, with 19,900 vehicles and a trade value of $286.8 million. Thailand followed closely with 13,406 units ($266.5 million) and China with 8,848 units ($268.92 million).
Combined, these three markets accounted for over 95% of all car imports into Vietnam in April, while the US, Japan, and South Korea made up about 4% of the total.
The ups and downs in Vietnam’s car import activities this year have largely been influenced by the sluggish market conditions. It wasn’t until the first report in mid-March that a recovery in import volumes was observed.
However, with the start of the second quarter, car import activities have once again taken a downturn. According to sources, the Vietnamese government is considering implementing a preferential registration fee program for domestically assembled cars, which may also be a contributing factor to the decline in imported vehicle volumes.
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