Slight increase in car imports in the first two months
  • | vneconomy, | March 08, 2021 12:00 PM
Vietnam saw a slight rise in car imports between January and February this year.


Slight increase in car imports in the first two months

In the first two months of this year, Vietnam imported 15,343 cars worth a total USD346 million, representing an on-year rise of 3.3% and 0.2% respectively.

According to the General Statistics Office of Vietnam, in February, around 7,000 cars were imported into Vietnam worth USD134 million, down 32.2% and 40.6% on-year respectively.

In January, 8,343 cars were imported into Vietnam with a total value of USD213 million.

Last year, Vietnam imported 105,261 cars with a total value of USD2.294 billion, down 24.5% and 27.4% consecutively on-year.

Industry insiders attributed the decrease in car imports last year to the grave impact of Covid- 19 in other countries.

Another reason was the government’s latest reduction of registration fees for domestically-assembled and manufactured vehicles, which encouraged customers to buy locally-made cars.

Uncertainties would likely cast a shadow over the local car market in 2021, especially when the Covid-19 pandemic continued and customers curb their spending, according to Nguyen Trung Hieu from the Vietnam Automobile Manufacturers Association (VAMA).

Hieu view, director of auto dealership Thien Phuc An Co. Nguyen Tuan said if the market continued to remain quiet, car dealers might provide their own sales promotion programmes for customers to maintain revenue.

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