January auto imports surge 85 percent in Vietnam
In this article (5)
Auto imports in January rose to 8,343 completely built units worth $212.5 million, up 84.7 percent and 76.2 percent year-on-year, respectively.
Most of car imports are from Thailand and Indonesia, at an average price range of VND350 million ($15,000) to VND 1.2 billion.
Experts have said that the scale of manufacturing, tax exemptions and affordable auto models are elements that have allowed these nations to acquire large market shares in Vietnam.
A Vietnam Customs report notes that auto imports had fallen 24.5 percent to 105,200 units last year as the Covid-19 pandemic slashed demand and forced dealers to stop working for weeks in April.
Industry insiders say it is still early to forecast this year’s performance by Vietnam’s auto industry because the Covid-19 situation has become increasingly unpredictable.
Questions & Answers
Q.What is the average price range for cars imported from Thailand and Indonesia?
What is the average price range for cars imported from Thailand and Indonesia?
Cars imported from Thailand and Indonesia typically cost between VND350 million ($15,000) and VND1.2 billion.
Q.How did auto imports perform in Vietnam last year?
How did auto imports perform in Vietnam last year?
Last year, auto imports fell by 24.5 percent to 105,200 units, as the Covid-19 pandemic reduced demand and closed dealerships.
Q.Why is it difficult to predict the auto industry's performance for the current year?
Why is it difficult to predict the auto industry's performance for the current year?
Industry insiders state that the Covid-19 situation has become increasingly unpredictable, making it too early to forecast this year's results.
Reader pulse
Is this import surge sustainable?
23,240 votes so far