Vietnam’s CBU car imports in seven months surge despite COVID-19
Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.
Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume (Illustrative photo: VNA)
Hanoi (VNA) - Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume despite the complexities of COVID-19.
Statistics of the General Department of Vietnam Customs showed that in the period, Vietnam purchased 95,525 CBU vehicles worth 2.1 billion USD, surging 107.1 percent in value against the same period last year.
Thailand and Indonesia were the main providers of Vietnam, holding a lion’s share of 80 percent.
In July alone, 14,407 cars worth 290.8 million USD were imported, down 5.9 percent in volume and 13.3 percent in value compared to the previous month.
Meanwhile, members of the Vietnam Automobile Manufacturers' Association (VAMA) sold 166,516 vehicles in January-July, up 27 percent compared to the same period last year. Of the figure, domestically assembled cars made up 15 percent, or 94,109.
In seven months, TC Motor of Hyundai Thanh Cong sold 38,066 vehicles, while VinFast of conglomerate Vingroup 19,720 units./.
The Vietnam Automobile Manufacturers’ Association (VAMA) has reported that its members posted a 15 percent month-on-month decline in automobile sales in May to 25,585 units, due to the impact of COVID-19 and a shortage of semi-conductor chips for the industry.
Limited market capacity and price differences between domestically produced cars and imported cars are the two biggest bottlenecks for the local auto industry, according to the latest report from the Ministry of Industry and Trade (MoIT).
About 335 million USD was spent on importing 15,316 completely built-up (CBU) vehicles in June, down 10.2 percent and 1.8 percent, respectively, against the previous month, according to the General Department of Customs.
Automobile sales in Vietnam plunged in July due to the complications of COVID-19 and social distancing measures being applied in many localities nationwide.
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Vietnam’s imports of completely built-up (CBU) vehicles in the first seven months of 2021 posted a year-on-year surge of 111.2 percent in volume (Illustrative photo: VNA) 
