Imported cars increased sharply by nearly 30% when the domestic vehicle registration tax reduction was about to expire

In April, the number of CBU cars imported to Vietnam increased sharply by 28.1% compared to the previous month, reaching 13,238 vehicles. In which, 3 main markets account for a large proportion: Thailand, Indonesia and China.

According to statistics from the General Department of Customs, the import of CBU cars of all kinds and auto parts and accessories in April 2022 continued to maintain a strong upward momentum.

Specifically, according to statistics from the General Department of Customs, in April 2022, the number of CBU umbrellas of all types registered with customs declarations imported into Vietnam reached 13,238 vehicles, a sharp increase of 28.1% compared to the same month. 3 previously reached 10,331 vehicles.

From the beginning of 2022 until now, April is also the month with the highest number of CBU cars imported to the country.

However, in the first 4 months of 2022, the number of cars imported to Vietnam compared to the same period last year still decreased significantly. In the past 4 months, Vietnam imported 36,989 CBUs of all kinds, down 26.3% in volume over the same period last year and down 19.1% in value over the same period last year.

It is known that CBU cars of all kinds imported to Vietnam in the first months of the year mainly originate from Thailand, Indonesia and China.

In which, the volume imported from Thailand is 16,752 vehicles, down 35.1%; Indonesia with 11,016 vehicles, down 20.6% and imports from China was 5,432 vehicles, down 17.6% over the same period last year.

From the perspective of experts, the 50% reduction in registration fees for domestically manufactured and assembled cars (from December 1, 2021 to the end of May 31, 2022) more or less affects the competitiveness of imported cars.

According to statistics, the sales of the Vietnamese automobile market in April reached 51,745 vehicles. In which, the Vietnam Automobile Manufacturers Association (VAMA) sold 42,359 vehicles, Hyundai Thanh Cong (TC Motor) 6,959 vehicles and VinFast 2,427 vehicles.