Vietnam CBU automobile import +95.3% to $107.6Mln in Jan

Vietnam is estimated to import $107.6 million worth of 6,000 complete built unit (CBU) automobiles in January

Vietnam is estimated to import $107.6 million worth of 6,000 complete built unit (CBU) automobiles in January, sharply rising 95.3% on-year for value and 76.5% for quantity, online newspaper Tuoitre reported on February 9, citing the General Statistics of Vietnam (GSO).

The surge was attributed to the fact that car importers boosted importing car to avoid the new tax on imported car despite still low domestic demand.

The prices of imported cars will rise between $500-$1,000 per unitafter the new tax policy become effective from January 29, according to the Vietnam Customs source.

Last year, Vietnam’s imported CBU automobile fell 33.2% from 2009 to 53,841 units worth $978.5 million.

Meanwhile, the country cut the imported CBU motorbike to 10,000 motorbikes worth $14 million, down 17.4% for quantity but up 3.3% for value on year. – Stoxplus.com

Tags: Vietnam CBU automobile imports

Posted by VBN on Feb 9 2011. Filed under Import-Export, Import-Export turnover, Industry. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry