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Vietnam‘s automobile import continues decreasing in value
2011-1214
Despite the year is going to end, the imported automobile import in Vietnam has not signalled to recover. According to the general Statistical Office (GSO), November import of automobiles once more time stayed at the bottom established in August, the Vietnam Economic Times reported.
In details, 3,000 automobiles were imported to Vietnam in November, equaling to the value of $53 million, equivalent with the volume of CBU import in the previous month but the value decreased by $2 million.
Total car imports in the first 11 months of this year were 51,000 units worth $958 million, rising 8.6 percent and 10.9 percent in value against one year earlier.
Therefore, different from previous years, the automobile import of this year's last two months is going to reach the lowest level. The unmoved operation is attributed to the regulations in Ministry of Industry and Trade's Circular 20.
In fact, the extraordinary happenings of automobile imports mainly came from unstable import volume of unauthorised car traders. After the Circular 20 was enforced, the group of these traders did not have chance and the market was dominated by authorised distributors and joint ventures under Vietnam Automobile Manufacturers' Association (VAMA).
It is said that the car import between November and December is expected to rise slightly.
GSO said that the import spending of automobile products and components, spare parts in November is estimated at $253 million, up $3 million month on month. The accumulative figure in 11 months will be over $2.86 billion, a year-on-year growth of 10.1 percent.
In details, 3,000 automobiles were imported to Vietnam in November, equaling to the value of $53 million, equivalent with the volume of CBU import in the previous month but the value decreased by $2 million.
Total car imports in the first 11 months of this year were 51,000 units worth $958 million, rising 8.6 percent and 10.9 percent in value against one year earlier.
Therefore, different from previous years, the automobile import of this year's last two months is going to reach the lowest level. The unmoved operation is attributed to the regulations in Ministry of Industry and Trade's Circular 20.
In fact, the extraordinary happenings of automobile imports mainly came from unstable import volume of unauthorised car traders. After the Circular 20 was enforced, the group of these traders did not have chance and the market was dominated by authorised distributors and joint ventures under Vietnam Automobile Manufacturers' Association (VAMA).
It is said that the car import between November and December is expected to rise slightly.
GSO said that the import spending of automobile products and components, spare parts in November is estimated at $253 million, up $3 million month on month. The accumulative figure in 11 months will be over $2.86 billion, a year-on-year growth of 10.1 percent.
Source: Vietbiz24
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