Việt Nam’s import of cars reached 14,134 units in February, worth over US$300 million, according to report from the General Department of Customs.
The 16th International Exhibition on Automobile, Transportation and Supporting Industries (Vietnam AutoExpo 2019) will be held at the Vietnam National Convention Centre in Hà Nội from June 12 to 15.
Việt Nam imported 11,172 cars between January and September, up 5,142 units from the same period last year.
Việt Nam needs to develop its own automobile industry, create favorable import conditions and ensure production for more than 90 million people.
Days away from the official implementation of Decree 116 regarding Việt Nam’s automobile import and assembly sector, the market is divided with firms swearing by opposite outcomes of these requirements.
According to the ASEAN Trade in Goods Agreement (ATIGA), Việt Nam will have to cut 669 tariff lines to zero per cent in January 2018.
Việt Nam spent over US$165 million importing 6,111 complete built-up cars in September, a 22 per cent reduction compared to previous month, according to the preliminary report of the General Department of Customs.
As many as 23,232 cars were sold in May, up 6 per cent from the previous month, according to the Việt Nam Automobile Manufacturers’ Association on June 7.
Seven major auto brands have so far confirmed participation at the third Việt Nam International Motorshow (VIMS 2017) to be held in HCM City next October.
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold more than 17,600 cars in February, down 13 per cent from the previous month.