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Wednesday, July 24, 2024

Vietnam’s auto imports plunge in Jan-June

The Saigon Times

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HCMC – Vietnam imported over 63,730 completely-built-up (CBU) cars worth some US$1.6 billion between January and June, dipping by 21.4% in volume and 14.4% in value year-on-year, according to data of the General Department of Vietnam Customs.

Among them, 49,050 cars with no more than nine seats valued at some US$985 million were shipped to the country during the first half of the year, up 1,000 units year-on-year, while the number of imported trucks totaled 9,000 units worth US$328.5 million, plummeting over 10,000 trucks.

Thailand was Vietnam’s biggest car supplier, shipping over 27,425 cars worth US$553 million to the latter. Indonesia came second, with 20,280 made-in-Indonesia cars exported to Vietnam, followed by China with 10,890 units.

Industry watchers attributed the fall in auto imports in the first six months to global semiconductor chip shortages and supply chain disruptions. As a result, the output of many auto manufacturers worldwide tumbled.

The local market has recently seen a shortage of multiple imported vehicle models, the local media reported.

In addition, during the January-June period, Vietnam bought auto parts worth US$471 million, down 12.8% year-on-year, while the import of motorcycles and motorcycle parts amounted to US$72 million, up 10.8% year-on-year.

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