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Car imports rocket in first half

Released at: 14:01, 29/06/2015

Car imports rocket in first half

Imports of completely-built-units nearly double year-on-year in Jan-May.

by Minh Tien

More than 56,000 completely-built-unit (CBU) motor vehicles were imported during the first half of the year, an increase of 30,000 over the same period last year.

Officials from the Ministry of Planning and Investment (MPI) told a meeting on late June that 18,000 of these were vehicles of nine seats or less while around 36,000 were trucks and buses.

The General Department of Customs earlier reported that Vietnam imported more than 45,700 CBUs during the first five months, up nearly 130 per cent year-on-year. Their combined value was $1.2 billion, a year-on-year increase of 183 per cent.

Cars of nine seats or less reached 15,800 (up 74 per cent) units worth $186 million (up 69 per cent). Trucks were roughly 17,160 in number (up 95 per cent) and $455 million (up 123 per cent) in value.

MPI officials said the latest data indicated that enterprises stepped up the import of vehicles that serve production and transport.

The sharp rise in the number of trucks was due to tighter policies from the Ministry of Transport on controlling vehicle weights to ensure safer road traffic, they added.

A sizable number of Chinese trucks reportedly entered the Vietnam market over the last few months, threatening similar vehicles manufactured and assembled domestically, as well as the national automobile industry. Deputy Minister of Planning and Investment Dang Huy Dong stressed that the situation required attention as some domestic policies were virtually stimulating demand for products from other countries.

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