Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50% compared with the previous month, according to the General Department of Vietnam Customs.
This is a good sign for many domestic customers as auto importers have met requirements of the Government’s Decree 116 on the conditions for production, assembly, import and business of automobile warranty and maintenance services, which came into effect on January 1 this year.
It is predicted that tens of imported vehicles will enter the Vietnamese market in the last months of the year, with various models of Mitsubishi Xpander, Mazda BT 50, Ford Everest, Ford Ranger, Toyota Yaris, Toyota Wigo, Toyota Rush, Toyota Avanza and Honda HR-V.
These vehicles enjoy zero percent import tax in line with the Southeast Asian countries’ commitments to lower tariffs from 2018.
According to report from the Vietnam Automobile Manufacturers’ Association (VAMA), more than 5,600 imported cars were sold in August, increasing by 66 percent compared with the previous month.
In the January-August period, a total of 28,816 units were imported to the country, in which the volume from Thailand was highest with 22,080 units. It was followed by Indonesia with 3,093.