Car Imports Drop 31 per cent Jan-November
The downsizing Vietnamese automobile market has seen a 31.1 per cent decrease in automobile imports in the first 11 months of this year to 11,000 units, according to the General Statistics Office (GSO).
The Southeast Asian nation is forecast to spend $184 million on the four-wheeler between January and November, down 29.3 per cent on year.
A market expert said Vietnamese customers are waiting for lower-priced cars after Vietnam joins the WTO. The WTO entry is hoped to drive down import taxes on cars and components.
Carmakers in Vietnam are predicted to spend $441 million on car components in the 11-month period.
Last year, Vietnam spent $280 million importing 17,000 automobiles, down 3.2 per cent on year in value and 24.3 per cent in volume, said the GSO. The country also disbursed $800 million on auto components in the year.
(GSO November 2006)
Vietnamese
