Vietnam imported 95,000 CBU autos worth $2.31 billion between January and October, rising 82.8% in volume and 100.2% in value year-on-year, according to data of the General Statistics Office.
Source: General Statistics Office.
In terms of market, China topped the list of auto providers for Vietnam in the ten-month period with 20,004 vehicles worth $776 million, rising from 13,805 in 2014 and 4,372 in 2013.
South Korea, from which Vietnam imported 18,676 autos in the period, fell to the second position. Meanwhile, the North Asian country was the biggest car provider for Vietnam in 2014 with 16,794 units and in 2013 with 15,340 units.
According to the Vietnam Automobile Manufacturers’ Association (VAMA), the country’s auto import could reach between 115,000 and 117,000 units this year.
The Vietnamese government has issued a number of policies that could exert a strong impact on automobile prices as well as the auto market in Vietnam.
The government has proposed the National Assembly approve a special consumption tax reduction by five percentage points on cars with no more than nine seats and engine capacity below 2,000 cubic centimeters from July next year.
Currently, the domestic special consumption tax on less-than-nine-seat cars with engine capacity under 2,000 cubic centimeters is 45%, higher than the average of regional countries.