Vietnam February car import to hit the lowest rate in 2 recent years

Vietnam is estimated to import 2,300 completely built units (CBU) of cars in February 2012, the lowest level over 2 recent years, the local newspaper Vneconomy reported.

Vietnam’s monthly imported CBU cars were around 3,000 pcs during the last 7 consecutive months. In which, the country bought only 2,800 units in January 2012 and plans to spend $46 million to import 2,300 pcs in February, the Vneconomy added.

Car sales have fallen after the registration fee, registration fee of number plate were sharply raised in Hanoi and Ho Chi Minh city.

Besides, the Ministry of Transport’s proposal of charging the circulation fee to personal vehicles and cars entering city centre also adversely affect the recovery of the auto market.

Auto enterprises have applied a number of promotion programs to boost sales including assistance of registration fee but the result has been not positive and any of those businesses have to extend the promotion time.