Vietnam Car imports plummet in August
Vietnam imported around 9,000 completely built-up cars in August, down from the average of 12,500 in the previous seven months.
The imports cost $174 million, according to the General Statistics Office.
Imports dropped sharply in August because it coincides with the seventh lunar month, traditionally called the “ghost month” in which locals avoid buying new things to avoid bad luck, said car dealerships.
Vietnam imported over 96,000 CBU units worth a total of $2.1 billion in the first eight months of this year.
This represents an increase of 320 percent in volume and 300 percent in value from the same period last year, when the government issued a decree with tougher conditions, requiring importers to provide certain certificates to ensure quality and countries of origin.
Vietnam imported 72,650 cars last year, down nearly 20 percent over 2017, according to Vietnam Customs. But their value exceeded $1.64 billion, up 21 percent.