Vietnam imports $763.6Mln CBU automobile as of Mid-Nov

Vietnam is estimated to import $763.6 million worth of 41,570 complete built unit (CBU) automobiles as of the mid-November, down 16.8% on-year for value and 28.1% for quantity

Vietnam is estimated to import $763.6 million worth of 41,570 complete built unit (CBU) automobiles as of the mid-November, down 16.8% on-year for value and 28.1% for quantity, the VnEconomy reported on November 18, citing the Vietnam Customs.

In November alone, the on-month imported car turnover is expected to fall to $79.6 million for 4,597 CBU cars.

The automobile import slowed down this month due to higher domestic dollar prices in the recent time while the automobiles were regularly imported most in November to sell out in the end of the year.

The local automobile importers are facing with difficulties of lower domestic demand when they raise the retail prices to off-set to the dollar hike, local traders said.