IMPORTED CARS TO VIETNAM SURGE IN JULY

According to the statistics of the General Department of Customs, the number of imported cars to Vietnam in July increased in spite of the Covid-19 pandemic.

Accordingly, nearly 4,800 cars of different kinds have been imported with the total turnover of roughly USD 108 million, up 34% in productivity, 10% in value as compared to June. Thailand and Indonesia are still the 2 main markets of Vietnam, amounting 76% of the total imported cars in July. More than 1,300 cars were imported from Indonesia, with the total value of more than USD 14 million. Also in July, declarations of more than 2,300 autos were cleared for import from Thailand, with the value of USD 38 million. Taking the advantage when the import tax on cars originated from ASEAN nations to 0 percent since early 2018 is one of the reasons to the prevailed cars imported from Indonesia and Thailand. The low-cost auto models of Indonesia imported to Vietnam are mainly Honda Brio, Toyota Wigo…while the majority from Thailand is re-manufactured. As compared to the same period of 2019, the prices of imported cars from Indonesia reduced VND 30-60 million. Apart from autos of different types, Vietnamese enterprises also imported nearly USD 347 million worth of spare parts of different kinds from South Korea, Thailand, China, which rose by USD 68 million over June 2020./.