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Sep 19, 2020 / 23:55

Vietnam car imports surge over 85% in August

This marked the rise in number of imported cars to Vietnam in two consecutive months, following a 34% increase in July.

In August, Vietnam imported 8,800 cars worth US$202 million, up 85.6% month-on-month in volume and 87.1% in value, according to the General Department of Vietnam Customs (GDVC).

 Data: GDVC. Chart: Ngoc Thuy. 

This marked the second intermonthly rise in a row in number of imported cars to Vietnam, following a 34% increase in July.

Overall, 53,800 cars were imported to Vietnam during the eight-month period for US$923 million, down 43.4% year-on-year in volume and 43% in value. 

Upon breaking down, the country imported 39,600 passenger cars, or cars with less than nine seats, accounting for 74% of total cars imported and 44% less than the figure recorded in the same period of last year.

According to the GDVC, 83% of imported cars in Vietnam in the January-August period came from Thailand and Indonesia, with the corresponding numbers of 24,700 and 20,300, down 56% and 28% year-on-year, respectively.

Data from the Vietnam Automobile Manufacturers Association (VAMA) revealed the number of cars sold in Vietnam decreased by 14% month-on-month and 4% year-on-year to 20,655 units in August, the first decline in car sales number in four months.

In the first eight months of 2020, car sales in Vietnam dropped 25% year-on-year to 151,903 units across all segments.

Sales of domestically assembled cars reached 96,473 units during the period, down 19% compared to the same period of last year, while imported completely-built-units (CBUs) totaled 55,430 units (-33%).