Vietnam Car Import Keeps Falling in November
Vietnam imported 1,000 automobiles US$22 million in November, down by half in volume compared with the same period last year, the government’s General Statistics Office (GSO) said.
This is the fifth consecutive monthly fall in car import in 2005, it said.
Between January and November, the Southeast Asian nation imported over 16,000 worth US$265 million, down 19.5 per cent in volume and 9.3 per cent in value.
A Ministry of Trade official said the sharp decline is resulted from the government decision to cut import tariff on finished cars from ASEAN countries from next year. Domestic car hunters expect lower car prices next year.
Vietnam, which has a fledging automotive industry, spent US$743 million importing auto components in the eleven months.
Last year, Vietnam imported around 22,000 cars, up 21.9 per cent against 2003.
Currently, there are now 11 operational foreign car assemblers in the country with total investment of over US$500 million and an installed capacity of 148,000 units a year, excluding three newly licensed: Japan’s Honda, Taiwan’s Chinfon and Malaysia’s JRD.
B.T
Vietnamese
