Vietnam imports over 75,400 cars in first half of 2019
Vietnam imported a total of 75,437 assembled cars in the first six months of 2019, six times more than in the same period last year, according to the General Department of Vietnam Customs.
Hanoi (VNA) - Vietnamimported a total of 75,437 assembled cars in the first six months of 2019,six times more than in the same period last year, according to the GeneralDepartment of Vietnam Customs.
The value of imported cars alsoincreased by more than five times during the January-June period, reaching 1.63billion USD.
Of the imported cars, 54,927vehicles were nine-seat cars or smaller, up six-fold year-on-year, and17,879 were trucks, also up more than six-fold.
In June alone, a total of 10,540cars were imported with a total value of 254 million USD, a year-on-yearincrease of 26.5 percent.
Thailand was the biggest source ofcars imported into Vietnam last month with 7,575 units. It was followed by Indonesia with 1,468 and Chinawith 653.
Vietnam also imported 274 cars fromthe Republic of Korea and 150 vehicles from Japan. These five markets accountedfor 96 percent of all vehicle imports into Vietnam in June.
Vietnam imported 7,145 cars withnine seats or fewer in June, worth a total of 136.9 million USD, accounting for67.8 percent of its total automobile imports.
There were 2,731 trucks importedworth a total of 77.1 million USD and 654 vehicles with special purposes worth 40.3million USD.
June also saw Vietnam purchase 291million USD worth of car components, down 18.4 percent month-on-month.Suppliers of parts were mainly from the Republic of Korea, Japan, Thailand,China, Indonesia and Germany.-VNA
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
The automobile industry of Vietnam has witnessed progress in the last two years, but the localisation rate (local part supply) still remains low, not meeting the set target, according to a Ministry of Industry and Trade (MoIT) report sent to the National Assembly for discussion and direction.
Vietnamese automobile manufacturers and distributors had a banner month in May as the sales of car experienced a strong monthly growth of 30 percent following a line-up of promotions and discount programmes.
Car sales reached 281,473 units during the January-June period, a year-on-year rise of 21 percent, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on July 9.
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Illustrative image (Source: VNA) 
