Cars imported to Vietnam in Vietnam increased suddenly, unexpectedly with the price of cars from India

Mar 20, 2022 07:46 GMT+7

The General Department of Customs recently announced the import data of CBU cars of all kinds and auto parts and accessories in February 2022. Specifically, in February, the number of CBU cars of all kinds registered for import customs declarations increased by 102.3 percent compared to the previous month’s import volume.

Specifically, the import volume of CBU cars of all kinds in February reached 9,152 units with a value of 212 million USD. Among imported cars, cars with 9 seats or less were 8,046 units, valued at USD 159.5 million, accounting for 87.9% of imported CBU cars of all kinds, up 100.7% (equivalent to 10.7%). equivalent to 4,038 units) compared to the previous month. Cars with over 9 seats only imported 12 units, down 46.9% compared to the previous month.

Situation of CBU cars of all kinds registered for import with Customs in February 2022. Source: GSO.

Transport cars are 304 units, with a value of 18.9 million USD; up 16.9% in volume and 61.9% in value over the previous month. In which, there are 211 cars originating from China, up 37.9% and 70 units originating from Thailand, down 33.3% compared to the previous month.

Specialized cars in the month imported 790 units with a declared value of USD 33.7 million, up sharply by 223.8 % in volume and up 110.2% in value over the previous month.

In the 2 months of 2022, the total number of CBU cars imported to Vietnam is 13,690 units, down 25.2% over the same period last year; in which, cars with 9 seats or less were 12,075 units, down 0.7%; transport cars were 569 units, down 87.9%.

Import volume of CBU cars of all kinds in 2 months of 2021 and 2 months of 2022 (Unit: Unit). Source: GSO.

CBU cars of all kinds registered for customs clearance imported into Vietnam mainly originate from 4 main markets, namely from Thailand with 4,688 units; from Indonesia with 2,592 pieces; from China with 1,033 units and from the United States with 415 units. The number of cars imported from these four markets reached 8,728 units, accounting for 95% of the total number of cars imported into Vietnam.

Originally one of the main importers of CBU cars from Vietnam, however, in recent years, India has suddenly “lost track” in the top import markets of Vietnam.

Along with that, the import price of cars according to the previous customs declaration of only a few tens of millions of dong also followed a strong increase, to hundreds of millions of dong, and then climbed to billions or even tens of billions of dong each.

In this February, Vietnam imported 10 cars from India with a value of 5 million USD. On average, each car imported from this country costs up to 500,000 USD, equivalent to 11.5 billion VND.

At this price, cars imported from India are nearly 36 times higher than the price of cars imported from Indonesia (322 million VND), 25 times higher than the price of Thai cars (454 million VND) and 12 times higher than cars imported from the domestic market. Chinese market (928 million VND).

According to the Vietnam Automobile Manufacturers Association (VAMA), the whole market’s sales in February 2022 reached 22,802 vehicles of all kinds, down 26% compared to January 2020 but up 68% over the same period last year. 2021.

In which, including 17,541 tourism; 4,782 commercial vehicles and 479 specialized vehicles. Thus, passenger car sales decreased by 31%; commercial vehicles decreased by 7.6% and specialized vehicles increased by 67% compared to the previous month.

According to soha.vn