Car Imports up 18.9 per cent, Motorbike Imports up 468 per cent in Jan-May

Car Imports up 18.9 per cent, Motorbike Imports up 468 per cent in Jan-May

Vietnam is estimated to inject US$130 million into importing 8,000 finished automobiles in the first five months of this year, a respective 18.9 per cent and 6.4 per cent on-year increase, according to the statistics released by the Government’s General Statistics Office.

In May, the country is projected to disburse US$28 million to import 2,000 automobiles, it said.

Vietnam is predicted to pump US$ 265 million into importing auto spare parts and kits in the whole period and US$55 million in May alone, a considerable increase compared with the same period last year.

A Ministry of Trade official, who wanted to keep anonymous, said manufacturers in the country attribute the rise in imports of car parts to high car sales this year.

According to the Vietnam Automobile Manufacturers Association (VAMA), eleven foreign-invested auto assemblers, which are now dominating the national car industry, sold 9,858 cars in the first four months of this year, up 32 per cent year on year.

Last year, Vietnam imported about 22,000 cars.

Meanwhile, the country is forecast to import 15,900 finished motorbikes in the first five months of this year, representing a year-on-year increase of 467.9 per cent in comparison with the same period last year, according to the government’s source.

The country is estimated to spend US$20.6 million on the motorized two-wheelers in the five-month period, up 237.3 per cent on year.

Motorbike manufactures in Vietnam are projected to disburse US$209.4 million on motorbike parts and kits in the January-May period and US$40.2 million in May alone.

In 2004, Vietnam imported 16,607 motorcycles and scooters, mainly costly luxury models.

Vietnam now is home to 52 motorbike manufacturing companies but the motorbike industry is dominated by seven operational foreign-invested firms like Honda, Yamaha and SYM while many local enterprises are facing production closure, according to the Ministry of Planning and Investment.

• T.V