Vietnam car imports soar in May

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Vietnam motor showSome 6,000 cars valued at $92 million were brought into Vietnam this month, up 50 per cent in terms of quantity and 3 per cent in value from April, according to the General Statistics Office.

It was the most significant automotive import that the country has seen since the beginning of this year, news website VnExpress quoted the office as saying on May 24.

Vietnam has imported 20,000 cars this year, a year-on-year increase of more than 50 per cent. The imports led to a turnover of over $380 million, up more than 45 percent compared to the same period last year.

Previously the Vietnam Automobile Manufacturers’ Association said nearly 41,400 cars, mainly four-seaters, were sold in Vietnam over the first four months, a 36 per cent year-on-year increase.

The increases were reported about one year after the government reduced registration fees for cars with less than 10 seats from 15 per cent of the sale price to 10-12 per cent, a move aimed at stimulating the domestic auto market.

According to the association, 125,000 cars will be sold locally this year, up 14 per cent from last year.

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Reading Time: 1 minute

Some 6,000 cars valued at $92 million were brought into Vietnam this month, up 50 per cent in terms of quantity and 3 per cent in value from April, according to the General Statistics Office.

Reading Time: 1 minute

Vietnam motor showSome 6,000 cars valued at $92 million were brought into Vietnam this month, up 50 per cent in terms of quantity and 3 per cent in value from April, according to the General Statistics Office.

It was the most significant automotive import that the country has seen since the beginning of this year, news website VnExpress quoted the office as saying on May 24.

Vietnam has imported 20,000 cars this year, a year-on-year increase of more than 50 per cent. The imports led to a turnover of over $380 million, up more than 45 percent compared to the same period last year.

Previously the Vietnam Automobile Manufacturers’ Association said nearly 41,400 cars, mainly four-seaters, were sold in Vietnam over the first four months, a 36 per cent year-on-year increase.

The increases were reported about one year after the government reduced registration fees for cars with less than 10 seats from 15 per cent of the sale price to 10-12 per cent, a move aimed at stimulating the domestic auto market.

According to the association, 125,000 cars will be sold locally this year, up 14 per cent from last year.

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