Auto import surges suddenly early March

March 15, 2018 | 20:46

(0) user say

The import of automobiles surged suddenly early this month, according to the General Department of Customs (GDC).

Honda Vietnam is the first firm to import cars according to the Government Decree 116. - Photo soha.vn

Statistics provided by the GDC showed that from March 2 to March 8, auto businesses registered to import 2,020 cars of all kinds to Viet Nam, having a total value of US$44.42 million, most of which were cars with nine seats or less.

No cars with nine seats or more were imported.

Most of the imported cars came from Thailand, the remaining from Japan, the United States and the United Kingdom. The vehicles were shipped through Hai Phong and Sai Gon ports.

This has been a surprise for the car market in Viet Nam after the number of vehicles imported was at a record low in the first two months of this year. Specifically, cars having less than nine seats only reached 18 units in January and 13 units in February, as auto importers failed to meet the demand of the Government’s Decree 116 dated on October 17 last year, which stipulates the conditions for production, assembly, import and business of automobiles, and their warranty and maintenance services.

The import of cars increased in early this month, because the importers met the requirements of the Decree 116, especially the Vehicle Type Approval Certificate. Honda Vietnam is the first firm to import cars according to the decree’s regulations, with nearly 2,000 units, including Honda CR-V, Jazz, Civic and Accord originating from Thailand. It is also the first batch of imported auto to enjoy 0 per cent import duty under the ASEAN Free Trade Agreement (AFTA), which became effective from January 1, 2018.

The sales of automobiles in February reached 12,394 units in the Vietnamese market, down 52 per cent against January and 29 per cent compared with the same period last year.

Insiders said the decline of sales in February this year was normal because it coincides with the Lunar New Year holiday.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional