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Imported cars in May 2022 increased in both volume and value, but people still lacked

According to preliminary statistics from the General Department of Customs, the Vietnamese market imported a total of 13,905 CBU cars in May, reaching a turnover of more than 366 million USD, up 5% in volume and up 3.9% in value compared to the previous month.

Paradox: Cars imported in May 2022 increased in both quantity and value, but people still lacked - Photo 1.

By origin, Thailand is still the market where businesses in Vietnam imported the most cars in the past month with the number of 5,862 units, worth more than 116 million USD. Next is still Indonesia with the number of cars reaching 3,992 units, reaching a value of nearly 58 million USD. Total CBU cars imported from the two Southeast Asian markets reached 9,854 units, accounting for 70.9% of imported cars in May, up slightly from 66.4% in the previous month.

Paradox: Imported cars in May 2022 increased in both quantity and value, but people still lacked - Photo 2.

Source: General Department of Customs

China is still the second largest import turnover market with more than 141 million USD of 3,326 units brought to Vietnam, a slight increase of 1.4% in value but a decrease of 4.2% compared to April. This is due to the fact that most of the vehicles imported from China are commercial vehicles (trucks, specialized vehicles…) with great value.

In this month, the number of cars imported from Japan suddenly dropped sharply by 61.4% compared to March, reaching only 117 units, inferior to the German and US markets. In addition, the Canadian market also provided a car priced at nearly $50,000 to Vietnam in May, bringing the total number of cars from the beginning of the year to 9 units.

Since the beginning of the year until now, the total number of CBU cars brought to Vietnam has reached 50,836 units with a total turnover of more than 1.28 billion USD, continuing to decrease by 22.7% in quantity and 14.6% in quantity. value compared with the same period last year.

Besides, domestic enterprises also imported auto parts and accessories worth nearly 540 million USD in May, up 11.3% over the previous month; cumulative imports in the first 5 months of this year reached more than 2.298 billion USD, up 6.3% over the same period last year. With this number of components, the output of domestically assembled cars is expected to increase in the following months, helping to make up for the lack of supply in recent months.

Finally, the amount of motorcycles and components and spare parts imported to Vietnam reached nearly 65 million USD in May, down 4.3% compared to April; Import volume from the beginning of the year of this item reached more than 313 million USD, still 17.8% lower than the same period last year.

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