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Apr 14, 2020 / 13:08

Vietnam’s imported cars down 32.6% in Q1

The majority of imported cars in Vietnam in March came from Thailand and Indonesia.

Vietnam imported 26,637 cars in the first quarter of 2020, down 32.6% year-on-year, according to the General Department of Vietnam Customs (GDVC).

 Data: GDVC. Chart: Nguyen Tung. 

Upon breaking down, the country imported 20,601 passenger cars, or cars with less than nine seats, down 24.2% year-on-year, and 5,412 trucks, down 52.7%.

In March, the number of imported cars was 12,151 worth US$224 million, up 18.4% month-on-month.

According to the GDVC, 90% of imported cars in Vietnam in March came from Indonesia with 6,914 cars, and Thailand with 4,013.

Passenger cars made up the largest proportion in March with 9,831 units worth US$163 million, accounting for 80.9% of the total imported volume and up 20% in quantity month-on-month; followed by trucks with 1,988 units worth US$44.8 million; and the remaining were other types of motorized vehicles with 297 worth US$16.2 million and 35 cars with over nine seats for US$760,000.

Customs statistics also showed that car accessories and parts worth US$310 million were imported into Vietnam in March, down 5.3% month-on-month. Suppliers of those products were mainly from South Korea with US$78.2 million, up 23.7% month-on-month; Thailand with US$57 million, down 9.4%; Japan with US$56 million, down 11.9%; China with US$48 million, down 18.3%; Indonesia with US$19 million, up 31%; and India with US$15.5 million, up 11%.

Overall, accessories and parts from these six countries accounted for 88% of total imported value in March, resulting in an import value of US$965 million for accessories and parts in January – March period, slightly down 1.5% year-on-year.

Car sales down 33% in Q1

Monthly data from the Vietnam Automobile Manufacturers Association (VAMA) revealed car sales in Vietnam are reported at 52,557 units in the first quarter, down 33% year-on-year.

 Number of car sales in Q1. Source: VAMA. 

Upon breaking down, of the sold units, 38,349 were passenger cars, down 35% year-on-year; 13,280 were commercial vehicles, down 26%; and 928 were special-purpose vehicles, down 32%. 

 Sales of imported cars down 39% year-on-year in Q1. Source: VAMA. 

Sales of domestically assembled cars reached 33,174 units during the period, down 28% compared to the same period of last year, while imported completely-built-units (CBUs) were 19,383 units, down 39%.