AUTOMOBILE TURNOVER IMPORTED INTO VIETNAM REACHES 2.3 BILLION USD

According to statistical data, from the beginning of 2023 to the present time, Vietnam has had nearly 100,000 imported CBU cars with a total value of up to 2.3 billion dollars.

According to the General Department of Customs, only from October 1, 2023 to October 15, 2023, businesses brought back a total of 5,770 completely imported cars with a total value of 139 million dollars. Of which, cars with 9 seats or less account for 87.6%, equivalent to 5,057 units.

Up to this point, the number of imported complete vehicles since the beginning of the year has reached nearly 100,000 units, with a total value of 2.3 billion dollars. Compared to the same period last year, there appears to be a decline, with more than 21,000 fewer cars and a total value $430 million lower.

Countries that mainly export cars to Vietnam include Thailand, Indonesia, and China. The imported car market is facing difficulties this year as purchasing demand has dropped sharply, despite many campaigns to stimulate consumption from dealers, manufacturers and distributors.

This year there have been many car models with discounts ranging from 200-300 million VND/car and many promotions, including models from Subaru and Volkswagen. There are even newly launched car models that have had to apply strong discounts to attract consumers.

Forecasters say the auto market could recover by the end of the year, especially during the pre-Tet shopping holiday with a series of measures to help stabilize the economy and promote consumption again.

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