HANOI: According to statistics from the General Department of Customs, Vietnam imported a total of 26,742 CBU cars from China last year, worth $1.04 billion.
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South Korea ranked second with 26,589 cars, worth nearly $613 million. In terms of number, India is the biggest surprise, ranking third with 25,146 cars and turnover of $128.5 million. Regarding turnover, the 3rd place belonged to Thailand with $440.5 million and 25,136 cars. Compared to 2014, import turnover of CBU cars from most countries doubled in both number and the value.
For example, automobile import turnover from China in 2014 was only 13,735 cars and $534.6 million; from South Korea 16,794 cars, $316.5 million; from India 13,299 cars, $64.1 million; from Thailand 14,416 cars, $242.9 million; from Indonesia 1,686 cars and $16.9 million.
For Japan and Germany, import turnover in 2015 increased slightly and fell for Canada, with only 92 cars and $2.7 million compared to 176 and $6 million in 2014. The Vietnam Automobile Manufacturers Association (VAMA) reported that nearly 245,000 autos were delivered to customers last year, with imported CBU units up 74% to nearly 71,900 and domestically assembled vehicles rising by 48% to more than 173,000.
With adjustments to special consumption taxes on imported goods, however, it is possible that the apparent heat in Vietnam’s auto import market will cool in 2016 and CBU imports will fall.
