While the policy reflects Vietnam’s intent to strengthen trade relations with the US, the real impact on car prices will be modest partly because import tariffs are just one part of the vehicle's cost.

While China remains a significant supplier, recent trade data highlights Vietnam’s efforts to diversify supply to meet industry demands.

Toyota's hybrid car models recorded impressive growth with 565 units, an increase of 504% compared to the figure in January 2024.

Import turnover of completely built-up (CBU) cars in March increased by 55.4% in volume and 41.4% in value compared to the previous month.

Vietnamese firms spent over 903 million USD in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO).

Regulations on the automobile localisation ratio will be abolished on October 10, 2022 after having been in force for almost 20 years.

The import of automobiles increased dramatically in March, according to figures released by the General Department of Customs (GDC).

Competition in the automobile sector on the domestic market is fierce, not only in the production of local enterprises, but also the significant imports of cars in the first nine months of this year.

Car sales in Vietnam last August fell 17 percent from the previous month to 23,540 units, attributable to consumers’ unwillingness to do big business like car purchases in the “Ghost Month”.

The import of completely built-up (CBU) autos from India in May jumped more than 20 times from February to over 3,500 units with an average price of only 112 million VND (4,870 USD).

Vietnam’s automobile sales in May totaled 26,028, increasing just one percent from April but 45 percent from the same period last year, released the Vietnam Automobile Manufacturers’ Association.

Honda Vietnam (HVN) sold 2.03 million motorbikes in the fiscal year 2016 (which ended in March), 120,000 units more than the previous year, according to General Director of Honda Vietnam Minoru Kato.

Vietnamese auto businesses imported about 5,000 completely built-up unit (CBU) cars, worth 131 million USD, in February, 1,000 cars less than the previous month, the General Statistic Office (GSO) sai

Vietnam’s automobile sales in November revved up by 86 percent from the same period last year and 33 percent from October, amounting to 29,706 units, said Vietnam Automobile Manufacturers Association.

As many as 20,349 automobiles were sold in July, an increase of 9 percent from June and 61 percent compared to the same period last year.