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Vietnam Today

Car imports from Thailand & Indonesia up dramatically

Released at: 21:00, 14/02/2017

Car imports from Thailand & Indonesia up dramatically

Photo: auto.nld.com.vn

Lower import taxes have immediate effect on vehicle imports from ASEAN.

by Hai Van

Imports to Vietnam of completely-built-up (CBU) vehicles of less than nine seats from Thailand and Indonesia in January were roughly half the quantity in 2016 as a whole.

According to the General Department of Vietnam Customs, in the first month of the new year the number of CBU vehicles of less than nine seats from ASEAN countries increased 233 per cent compared to January last year and equal to 45 per cent of import volumes in 2016.

The figure totaled 3,048 units, accounting for 62.8 per cent of such imports.

The reason for the increase is that the reduction in import taxes on vehicles from ASEAN from 40 per cent to 30 per cent.

Within ASEAN, only Thailand and Indonesia export vehicles of less than nine seats to Vietnam. Those from Thailand totaled 1,585 units in January worth $31 million, up 55 per cent and 209 per cent, respectively, year-on-year.

Numbers from Indonesia increased 1,800 per cent, reaching 1,823 units worth $35 million, as there was only one vehicle imported into Vietnam in the same period last year, worth $10,000.

Vietnam imported nearly 7,400 automobiles in January, according to Vietnam Customs.

The number of imported cars of less than nine seats reached 5,425 units, valued at $97 million, up 121 per cent in volume and 92 per cent in value.

In January, ASEAN remained the largest source of all types of automobiles imported into Vietnam. In particular, Thailand was the largest source, with 2,605 units, followed by Indonesia with 1,823 units and India with more than 1,000 units.

Prices of vehicles from India imported into Vietnam are the lowest, averaging just $3,708 per unit, while cars imported from France are the most expensive, averaging $57,000.

Vehicles from the UK and Germany are also quite expensive, at $50,000 per unit and $52,219, respectively.

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