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Tuesday, June 18, 2024

CBU car imports in Jan-Aug dip 10%

The Saigon Times

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HCMC – Vietnam’s completely-built-up (CBU) car imports from January to August dropped by 9.8% compared to the same period last year, reports the General Department of Vietnam Customs.

In this period, the country imported 86,749 CBU cars valued at over US$2 billion.

In August 2023, Vietnam purchased 6,929 CBU cars for US$162.4 million, a 22.4% reduction in volume and a 25.2% decrease in value compared to July.

The primary sources of these imports remain Asian countries, with Thailand leading the way. Vietnam imported 39,261 cars from Thailand in August, valued at US$825.2 million.

Indonesia followed closely behind with 32,118 cars valued at US$439.8 million. China secured the third position, selling 6,985 cars worth US$272.54 million.

Vietnam has also imported CBU cars from other global markets, including the U.S., Germany, Japan, South Korea and France, showcasing a diversified sourcing approach.

Meanwhile, Vietnam’s domestic automotive market presents mixed signals. In July, 24,687 vehicles were sold, reflecting a 4% increase compared to June but an 18% decrease compared to the same period in 2022, according to data from the Vietnam Automobile Manufacturers’ Association (VAMA).

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