A sharp increase in imported cars

More than 7,300 foreign-made cars worth US$122.2 million were imported into Vietnam last month, an increase of 37.6 percent compared to the previous month, according to the General Department of Vietnam Customs.

This raised the number of imported vehicles in the first half of this year to 34,138, worth almost US$631.5 million in total, up 48 percent in unit and 55.3 percent in value compared to the same period last year.

The surge was attributed to the fact that car traders had ordered before the Ministry of Industry and Trade’s Circular No.20 that tightens the import of new cars took effect as of June 26.

Meanwhile, the import of automobile spare parts in June was estimated at nearly US$160 million, up 2.2 percent on the previous month, raising the total import value in the first six months to US$977 million, or 6 percent higher than last year’s corresponding period. – VOV

Tags: Vietnam automotive, Vietnam automotive industry, Vietnam autos market, Vietnam car imports

Posted by VBN on Jul 19 2011. Filed under Automotive. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry