VN sees increase in imported cars

Vietnam's General Department of Customs has reported that 21,406 foreign-made cars worth US$392 million were imported in the country during the first four months of the year, an increase of 63% in volume and 72% in value compared to the same period last year.

In April alone, 5,546 cars was imported, worth $113 million, a slight decrease of 2-3% in volume compared to the previous month but an increase of 58% in volume and 85% in value compared to the same period last year.

Recently, the Ministry of Industry and Trade issued Circular No.20 to ask Vietnamese businesses to get import licenses to buy small cars, less than nine seaters. They also need to maintain documents to prove they are genuine distributors. The Circular will be in effect from June 26.

According to car importers, most car showrooms do not comply with regulations.

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