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More than 1.1 billion USD spent on car imports in four months

by VNA08 May 2021 Last updated at 07:00 AM

VTV.vn - More than 1.1 billion USD was spent on importing 49,360 completely built-up (CBU) vehicles in the four months of 2021 in Vietnam, a surge of 55.2 percent in volume and 57.2 percent in value over the same period last year.

In April alone, 14,000 automobiles worth 292 million USD were imported. However, the import turnover of CBU vehicles in April declined against the previous month.

In March, the import of automobiles increased dramatically as more than 347 million USD worth of CBUs were brought into the country.

In the first quarter of 2021, 35,367 cars worth 770 million USD were imported, up 31.1 percent in volume and 35 percent in value against the same period last year.

Industry insiders said these figures could be seen as a positive signal as the local car market continues to struggle with the impact of COVID-19.

A report from the Vietnam Automobile Manufacturers’ Association (VAMA) revealed that the total sales figure in the domestic automobile market in the first quarter this year reached 70,925 units, or a year-on-year increase of 36 percent.

Industry insiders attributed the surge to the increasing demand for transport and private use after the economy stalled due to the COVID-19 pandemic.

The figure comprised 51,126 passenger cars, up 34 percent, 18,735 commercial vehicles, up 43 percent, and 1,091 special-use vehicles, up 17 percent.

In March alone, auto sales by VAMA members grew by 127 percent against February to 30,935.

Of these, 21,089 were passenger cars, 9,227 commercial vehicles, and 619 special-use vehicles.

Sales of domestically-assembled vehicles rose 99 percent month-on-month to 70,952, while those of completely-built-up (CBU) vehicles increased 177 percent against January to 13,795.

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