The Vietnam Customs said that specifically, the country only imported 7,508 vehicles of all types in November, a more than three-time decrease compared to the same period in 2022. In comparison to January 2023, the number of imported CBU cars decreased by half.
Vietnam imported automobiles mainly from three countries including Thailand, Indonesia and China in the past 11 months.
For instance, Vietnam bought 50,144 vehicles from Thailand with a turnover of US$1.074 billion while Vietnam purchased 40,474 vehicles from Indonesia with a turnover of $574.38 million. China ranks third by selling 9,843 vehicles mainly trucks to Vietnam and earns a turnover of $360.27 million.
By the end of 11 months, the country spent $2.65 billion to import 111,278 cars.
According to a report from the Vietnam Automobile Manufacturers Association (VAMA), its member businesses excluding TC Motor and VinFast in November 2023 sold 27,953 vehicles in November countrywide, an increase of 10.17 percent compared to October 2023 and down 23 percent compared to the same period last year.
This sales includes 22,451 passenger cars up 14 percent, 5,318 commercial vehicles down 5 percent and 184 specialized vehicles up 30 percent.
VAMA members sold around 263,249 vehicles over the past 11 months, down 29 percent compared to the same period in 2022. Of which, customers had bought 198,573 passenger cars in the past 11 months down 31 percent compared to the same period in 2022 while 62,671 commercial vehicles and 2,005 specialized vehicles were sold out, down 16 percent and 57 respectively.
Although sales in November 2023 are still much lower than in the same period last year, this is considered a prosperity of the auto market in a difficult domestic economic context.
In December - the last month of this year, the auto market continues to receive large incentive packages worth up to hundreds of millions of Vietnamese dong, which is in contrast to previous years aiming to increase sales on the occasion of the Tet holiday ( the Lunar New Year 2024).
Specifically, Mitsubishi Motors Vietnam and its dealer system are currently offering a 100 percent discount on registration fees for many vehicle models in December.
Meanwhile, its peer - Honda Vietnam - and distributors further reduce the remaining registration fee by 50 percent for customers who buy domestically assembled car models such as City, BR-V, HR-V, Civic and Accord along with many other gifts.
Next are Toyota, Toyota Vios and Toyota Veloz models all have a 100 percent registration fee discount equivalent to VND 65 million-VND80 million.
Some Ford car models also have incentives of up to hundreds of millions of VND, such as the Ford Territory Titanium X version being offered by some dealers in Ho Chi Minh City with a discount of VND 110 million (US$ 4,558) along with additional accessories packages and insurance packages.
