Car imports see strong recovery in March

The strong recovery in CBU car import in March was due to the car import in February falling sharply when businesses stopped all import-export activities during the seven-day Tết holiday.
Car imports see strong recovery in March
Imported cars in Hải Phòng Port. Việt Nam imported about 15,000 completely built-up cars in March with a value of US$287 million. —VNA/VNS Photo

Import turnover of completely built-up (CBU) cars in March increased by 55.4 per cent in volume and 41.4 per cent in value compared to the previous month.

A preliminary report from the General Statistics Office (GSO) said that Việt Nam imported about 15,000 CBU cars in March with a value of US$287 million.

However, this import decreased slightly by 1.7 per cent in volume and 18.8 per cent in value compared to the figures in March 2023.

The strong recovery in CBU car import in March was due to the car import in February falling sharply when businesses stopped all import-export activities during the seven-day Tết (Lunar New Year) holiday.

Those numbers in February reached 9,650 units in volume and $203 million in value.

Thus, CBU car import turnover in March had a strong recovery despite the market situation not showing clear positive signals.

Positive signals from the economic recovery are bringing back higher expectations of domestic car demand.

The CBU car import is expected to continuously recover in the second quarter of 2024.

After the Tết holiday, the Vietnamese auto market welcomed many new car models, mainly imported cars.

GSO also reported that the total import of CBU cars in the first three months of 2024 was estimated at 31,452 units worth $632 million, down 25.1 per cent in volume and 31.7 per cent in value year on year.

This was still a very low turnover compared to 2023, before the market fell into a period of deep decline in demand.

Source: VNA
vietnamnews.vn

Related News

Latest News

Logistics industry faces green transition imperatives

Logistics industry faces green transition imperatives

VCN - The logistics industry is among those most profoundly impacted by the burgeoning trend of green transition. However, whether this transition manifests as a pressure or a catalyst for growth depends on how businesses approach and implement it.
How are imported seafood products transferred to domestic consumption quarantined?

How are imported seafood products transferred to domestic consumption quarantined?

VCN - Enterprises importing aquatic raw materials for export production or processing for export transferred to domestic consumption encounter difficulties in implementing quarantine.
Steel stocks chill as weak demand sends a shiver through the industry

Steel stocks chill as weak demand sends a shiver through the industry

A significant recovery may be expected in 2025, leading to swift movements of funds within this sector.
Vietnam

Vietnam's seafood exports continue recovery

Vietnam saw a gradual recovery of seafood exports during the first eight months of this year, both in terms of demand and price.

More News

Vietnam-China trade turnover hits nearly 130.8 billion USD

Vietnam-China trade turnover hits nearly 130.8 billion USD

The import-export turnover between Vietnam and China reached nearly 130.8 billion USD in the first eight months of this year, according to the latest statistics from the General Department of Customs.
Many good signals for businesses to accelerate seafood exports

Many good signals for businesses to accelerate seafood exports

VCN - Seafood exports in the first 8 months brought in nearly US$6.3 billion. With many advantages from the market and the dynamism of businesses, seafood exports are expected to increase compared to last year.
Footwear industry takes bold steps towards green growth

Footwear industry takes bold steps towards green growth

Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
Vietnam likely earn 5 billion USD from rice exports this year

Vietnam likely earn 5 billion USD from rice exports this year

Vietnam’s rice exports are expected to reach a record turnover of about 5 billion USD this year, as high demand from many large and traditional markets, such as the Philippines and Indonesia, continues.
Australian plums to be available in Vietnam

Australian plums to be available in Vietnam

Australian plums will soon be on shelves in Vietnam under the two-way agricultural market access agreement between the two countries that brings Australian plums to Vietnam and Vietnamese passion fruit to Australia, according to the Australian Government.
How to quarantine imported aquatic products for domestic consumption?

How to quarantine imported aquatic products for domestic consumption?

VCN - Enterprises importing aquatic raw materials for export production or export processing for domestic consumption encounter difficulties in implementing quarantine.
Vietnam trade mission in Germany seeks cooperation in automobile industry

Vietnam trade mission in Germany seeks cooperation in automobile industry

The Vietnam trade mission in Germany coordinated with the Berlin – Brandenburg automotive association (aBB) and authorities of the Vietnamese province of Nam Dinh to hold a roundtable on cooperation in the automobile industry.
New markets help fruit exports grow to record revenues

New markets help fruit exports grow to record revenues

Vietnam's fruit export revenue hit 4.63 billion USD in the first eight months of 2024, representing an increase of 30.6% compared to the same period last year, thanks to the opening of several key markets.
Vietnam aims for green, sustainable tourism

Vietnam aims for green, sustainable tourism

VCN - Green tourism is increasingly gaining attention and becoming an important development direction for many countries, including Vietnam. Green tourism will be an important lever for developing a green economy, helping green growth, towards the goal of achieving Net Zero (net zero emissions) by 2050.
Read More

Your care

Latest Most read
Logistics industry faces green transition imperatives

Logistics industry faces green transition imperatives

The logistics industry is among those most profoundly impacted by the burgeoning trend of green transition.
How are imported seafood products transferred to domestic consumption quarantined?

How are imported seafood products transferred to domestic consumption quarantined?

VCN - Enterprises importing aquatic raw materials for export production or processing for export transferred to domestic consumption encounter difficulties in implementing quarantine.
Steel stocks chill as weak demand sends a shiver through the industry

Steel stocks chill as weak demand sends a shiver through the industry

A significant recovery may be expected in 2025, leading to swift movements of funds within this sector.
Vietnam

Vietnam's seafood exports continue recovery

Vietnam saw a gradual recovery of seafood exports during the first eight months of this year, both in terms of demand and price.
Vietnam-China trade turnover hits nearly 130.8 billion USD

Vietnam-China trade turnover hits nearly 130.8 billion USD

The import-export turnover between Vietnam and China reached nearly 130.8 billion USD in the first eight months of this year, according to the latest statistics from the General Department of Customs.
Mobile Version