According to statistics from the General Department of Vietnam Customs, in July 2024, Vietnam’s imports of completely built-up vehicles of all kinds reached over 17,000 units, equivalent to over 343 million USD, an increase of 8.5% in volume and 10.6% in value compared to June.
The volume of cars imported from China to Vietnam continues to increase. Photo: Nguyen Hai
July 2024 (June of the Lunar Calendar) is the month before the “ghost month” as called by the folk (July of the Lunar Calendar), so usually the number of imported cars will surge. Meanwhile, August has a large period overlapping with July of the Lunar Calendar, so annually, the number of imported cars is usually lower than average.
Cumulative from the beginning of the year up to now, the country has imported a total of 91,637 completely built-up vehicles of all kinds, worth over 1.89 billion USD, up 14.8% in volume and 0.9% in value compared to the same period.
The average import price reached over 20,600 USD/unit (518 million VND/unit), down 11.7% over the same period last year. Of which, cars with 9 seats or less were 74,601 units, up 17.2% and freight cars were 7,765 units, down 31%.
The General Department of Customs said that Indonesia is the largest market for completely built-up vehicles to Vietnam in the first 7 months, reaching 38,040 units, equivalent to 557.3 million USD, with a price of 14,650 USD/unit (equivalent to 367 million VND/unit), up 29% in volume, up 39% in value, and up 8% in price compared to the same period last year.
Thailand is the second largest importer of completely built-up vehicles to Vietnam, reaching 32,717 units in the first 7 months, worth 628.6 million USD, down 9.3% in volume and down 17.5% in value compared to the same period in 2023. The average import price reached 19,213 USD/unit (482 million VND/unit).
Ranking third is the Chinese market. In the past 7 months, Vietnam imported 17,235 cars from this market, equivalent to 521.6 million USD, with a price of 30,267 USD/unit (760 million VND/unit), up 168% in volume, up 108% in value, but down 22.4% in price compared to the same period last year.
For cars with 9 seats or less, 14,015 units were imported into Vietnam with a value of 242 million USD, accounting for 81.3% of the total number of completely built-up vehicles imported. With this result, the number of cars with 9 seats or less imported to Vietnam in July increased by 4.9% (equivalent to 657 units) compared to the previous month.
Completely built-up cars with 9 seats or less are mainly of Thai origin, with 7,388 units, up 62.4% compared to the previous month; from Indonesia with 5,243 units, down 20.1%, and from the Chinese market with 996 units, down 10.7%.
In total, the number of completely built-up cars with 9 seats or less imported from these 3 markets reached 13,627 units, accounting for 97.2% of the total number of this type of car imported into Vietnam.
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