Vietnam Car & Auto Spare Parts Imports Fall 47.8 per cent in H1
Vietnam is estimated to have spent US$966 million importing cars and auto spare parts in the first six months this year, down 47.8 per cent on-year, the Government Statistics Office (GSO) reported.
Of the figure, US$392 million were used to import 23,100 completely-built cars, representing on-year falls of 47.9 per cent and 43 per cent, respectively, according to the statistics.
Lower domestic demand backed by higher special consumption tax is a major reason for the decrease.
Meanwhile, sales of domestically-made cars saw a sharp decrease of 35 per cent to 38,000 cars in the first five months this year.
Pham Anh Tuan, secretary of the Vietnam Automobile Manufacturers Association, said the economic downturn and tax hike are the reasons for sharp drops in the sales of both import and domestically-made cars.
“The domestic demand for cars remains very high. However, local consumers have delayed their purchase plans as the high tax has made cars more expensive, while the economic downturn has prompted them to tighten their belts.”
Tuan, however, believed that the situation will change in coming months because other countries have big stocks and offer good sales prices, attracting importers. (VietNamNet, GSO June 2009)
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