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Car imports surge in February

The Saigon Times

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HCMC – In February, Vietnam imported 9,650 completely-built units (CBU) cars of various types with a total cost of US$203.4 million. This marks a 38.7% increase in volume and a 40.1% rise in value compared to the previous month.

According to a report from the General Department of Customs released on March 11, Indonesia emerged as Vietnam’s largest car seller, accounting for 4,441 units and US$64.4 million in value, representing 31.17% of the total car import value.

Thailand closely followed, selling 3,788 CBU cars to Vietnam, with a total value of US$76.9 million in February alone.

Cars imported from these two Southeast Asian nations totaled 8,229 units last month, making up 85.2% of the country’s total imported CBU cars.

Despite the uptick in February, Vietnam experienced a substantial drop in car imports in the first two months of the year compared to the same period last year. During January-February, there was a decline of 38.5% in volume and a 39.7% drop in value, with CBU car imports totaling 16,452 units and US$345.15 million.

In January, the number of CBU cars registered for customs clearance decreased by 9.1%, or 695 units, compared to December 2023.

The majority of CBU cars imported into Vietnam in January originated from three main markets: Indonesia (2,647 units), China (1,987 units), and Thailand (1,858 units).

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