Low-cost Thai, Indonesian autos flood into Vietnam

Vietnam imported 1,287 automobiles of different kinds worth USD 31.3 million from August 3-9.

As many as 1,024 have below 9 seats, each worth more than VND 420 million (USD 18,200).

Among those, the number of cars from Indonesia soared five-fold from the previous week to 491, mostly Toyota Fortuner, Avanza or Mitsubishi Xpander and Suzuki Ertiga.

The remaining 340 were from Thailand, 70 from China and 68 from Mexico, which were mainly declared in ports in Ho Chi Minh City.

In addition, the country bought six vehicles with over 9 seats, 209 trucks and 48 other autos valued at over USD 12.6 million.

Businesses imported spare parts and accessories worth USD 74.3 million, up 38 percent week-on-week, predominantly from the Republic of Korea, Japan, China and Thailand.

In July, upwards 5,120 autos were declared at customs units. It was also the first month in a year that auto imports, inclusive of spare parts and accessories, surpassed USD 100 million.

In accordance with Decree 116 that took effect on January 1, 2018, imported automobiles must meet many requirements, causing difficulties for importers. However, they have dealt with them since the middle of this year.

Source: VNA