Jan-May car import spending reduces 2.6pct y-o-y

Vietnam’s spending on car imports during the first five months of 2010 has reduced by 2.6 percent year-on-year to $301 million with total 17,600 units, reported general Statistic Office.

In Q1, the growth of CBU import spending was recorded at -3 percent.

Directors of imported car showrooms stressed that there have been no positive signal for car imports. Demand for purchasing imported cars almost did not surge.

In the next time, the state will only allow new CBU imports at five international seaports, limit US dollar lending, continue allowing automatic import mechanism. By that time, the volume of imported cars into Vietnam will likely decline deeper.