Vietnam’s imported cars up 95% in Jan-Nov

Vietnam imported 133,696 cars in the first 11 months of 2019 for nearly US$2.91 billion, up 95.6% in quantity year-on-year, according to the General Department of Vietnam Customs (GDVC).

Data: GDVC. Chart: Ngoc Thuy.

Upon breaking down, the country imported 99,261 passenger cars, or cars with less than nine seats, representing a 2.3-fold increase year-on-year, and 28,427 trucks, up 36.4%, among others.

In November, the number of imported cars was 11,744 worth US$267 million, down 29.6% month-on-month.

According to the GDVC, 94% of imported cars in Vietnam in November came from five markets namely Thailand with 5,807 cars, Indonesia with 4,009, China with 480, Mexico with 472, and Japan 271.

Passenger cars made up the largest proportion in November with 8,549 units worth US$154.64 million, contributing 72.8% of the total imported volume, followed by trucks with 2,309 units worth US$56.4 million, while the remaining were other types of motorized vehicles with 881 worth US$55.6 million and five cars with over nine seats for US$111,000.

Customs statistics also showed that US$299 million worth of car accessories and parts were imported to Vietnam in November, down 8.2% month-on-month. Suppliers of those products were mainly from South Korea with US$85 million, down 25% month-on-month; China US$58.7 million, up 12.9%; Thailand US$56.9 million, up 2.3%; Japan US$45 million, down 34.2%; Indonesia US$23.3 million, up 2.4%; and Germany US$18.4 million, up 31.9%.

Overall, accessories and parts from these six countries accounted for 88% of total imported value in November, resulting in an import turnover of US$3.81 billion for accessories and parts in January – November period, up 15.1% year-on-year.