Imported vehicle sales figure sees upsurge in March

The number of imported cars in March increased by 45% or 3,649 vehicle, according to the General Department of Customs.

The amount of imported cars in March was worth nearly $61.7 million which was an increase of 38.5% against last month.

Within the first quarter of this year, the total amount of imported cars was 9,592, up 22.4%, and the import value was worth $161.7 million, up 5% compared to the same period of last year.

The Ministry of Finance has just issued a Circular No. 31 which cuts down import taxes from 83% to 77-80% and is applied to certain types of vehicles since April 23. This move may further boost imported car sales from late April onward.

Sales of imported automobile components and spare parts in March equaled $169.16 million, which went up 29.6% versus February and brought the first quarter’s sales to $448.268 million, an increase of 128% against the same period last year.

Meanwhile, imported motorbikes last month totaled 6,574, worth $7.27 million, an increase of 13.5% in terms of import value and 15.1% in terms of quality against February.

Within the first quarter of the year, imported motorbikes totaled 24,356, which decreased 30.6% and its import value was $28 million which went down 46.3% against last year.