Sharp fall in auto imports last month

Automobile imports in January dropped almost 70 percent over the previous month, the General Customs Department has said.

The department said 3,400 units worth US$54.6 million were imported last month, a drop of 69.6 percent over December 2009.

The fall is attributed to the ending of favorable policies that slashed value-added tax and registration fees, which meant an automobile would cost 10-12 percent more.

January’s imports included 2,400 nine-seat automobiles and 832 trucks.

The value of spare parts imported last month was at US$175 million, a decrease of 19.6 percent over last December.

It is expected imports would continue to drop this month.

Korea remains the biggest automobile supplier to the Vietnamese market, followed by Japan, according to the department.

Overall, the country’s imports reached US$5.96 billion last month, 19.4 percent lower than in December. Steel, fertilizers, computers, fuels, and machines remained the main imports, according to the customs department.