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More than $1.1 billion spent on car imports in four months

Update: May, 07/2021 - 08:20

 

New cars line up in Hiệp Phước port in HCM City. More than US$1.1 billion was spent on importing 49,360 completely built-up (CBU) vehicles in the four months of 2021 in Việt Nam. — Photo vov.vn

HÀ NỘI – More than US$1.1 billion was spent on importing 49,360 completely built-up (CBU) vehicles in the four months of 2021 in Việt Nam, a surge of 55.2 per cent in volume and 57.2 per cent in value over the same period last year, the General Statistics Office (GSO) has reported.

In April alone, 14,000 automobiles worth $292 million were imported. However, the import turnover of CBU vehicles in April declined against the previous month.

In March, the import of automobiles increased dramatically as more than $347 million worth of CBUs were brought into the country.

In the first quarter of 2021, 35,367 cars worth $770 million were imported, up 31.1 per cent in volume and 35 per cent in value against the same period last year.

Industry insiders said these figures could be seen as a positive signal as the local car market continues to struggle with the impact of COVID-19.

A report from the Vietnam Automobile Manufacturers’ Association (VAMA) revealed that the total sales figure in the domestic automobile market in the first quarter this year reached 70,925 units, or a year-on-year increase of 36 per cent.

Industry insiders attributed the surge to the increasing demand for transport and private use after the economy stalled due to the COVID-19 pandemic.

The figure comprised 51,126 passenger cars, up 34 per cent, 18,735 commercial vehicles, up 43 per cent, and 1,091 special-use vehicles, up 17 per cent.

In March alone, auto sales by VAMA members grew by 127 per cent against February to 30,935.

Of these, 21,089 were passenger cars, 9,227 commercial vehicles, and 619 special-use vehicles.

Sales of domestically-assembled vehicles rose 99 per cent month-on-month to 70,952, while those of completely-built-up (CBU) vehicles increased 177 per cent against January to 13,795. — VNS

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