Vietnam imports over 14,000 cars in February

Vietnam imports over 14,000 cars in February

In comparison with the year-on-year import figures, when auto importers faced barriers from the Government’s Decree 116 on the conditions for production, assembly, import and business of automobile warranty and maintenance services last year, the February figure increased by 5,667 percent in volume and 1,696 percent in value.

February saw strong performance because importers have met the requirements of Decree 116, especially the Vehicle Type Approval Certificate, and stabilised their imports.

Cars imported from Thailand gained the highest volume of nearly 9,400 units, accounting for 66.4 percent of the total imports in the month. It was followed by Indonesia with over 3,820 units.

The average prices of Thai and Indonesian cars were at 19,700 USD and 16,600 USD each, respectively. These prices were low because they both enjoy zero percent import duty when exporting products to Southeast Asia members, including Vietnam.

The figures imported from countries including Japan, Russia, the US and the UK were not high, according to the general department.