Foreign vehicles keep arriving in Vietnam

Contrary to the predictions by the General Statistics Office (GSO), foreign-made vehicles are still being imported into Vietnam in larger and larger quantities.

GSO has reported that 8,700 cars were imported in July 2009 worth $118 million, a sharp increase of 1,700 cars over the previous month.

In late July, GSO gave estimates that the number of car imports under the mode of complete built units (CBU) in the month would be 7,000 and import turnover would be less than $106 million. The estimates were equal in terms of quantity and higher by $8 million in comparison with the actual imports of June 2009.

Meanwhile, the imports in July were 1,700 cars higher than in June.

The figures about CBU car imports in recent months show the sharp increase of car imports.

The imports began increasing in May with imports in the month 400 cars higher than the previous month. In June, the imports were 2,200 cars more than the previous month.

Despite the increasing tendency of car imports, GSO still has forecast the sharp fall of car imports in August.

It has forecast that some 8,000 cars will be imported in August worth $115 million. If this happens in reality, the CBU import turnover in August will be $3 million lower than in July, while the number of cars will be 700 less. The figure about the actual car imports of August will be announced in September.

With the sharp increases in car imports in recent months, the CBU car import turnover in the first seven months of the year reached $524 million (32,400 cars). It is estimated that the import turnover in the first eight months of the year will reach $639 million (40,400 cars).

The domestic car market is now very bustling. People are rushing to purchase cars in order to enjoy preferences in ownership registration tax and other fees. A lot of domestic automobile manufacturers have announced they are running out of cars to sell. As a result, many car buyers have to wait several months to get delivery, or pay additional money to get their cars sooner.

vietnamnet, vneconomy

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