Vietnam sees February spurt in car imports

By Dang Khoa March 16, 2020 | 07:00 pm PT

Imported cars line up at a showroom in Ho Chi Minh City. Photo by VnExpress/Thanh Nhan.

With dealers focusing on affordable, new models, February car imports doubled over the previous month, official data shows.

10,261 completely built-up (CBU) cars worth $222 million were imported in February, 2.4 times the January volume, according to Vietnam Customs.

Thailand dominated the import market with 6,271 vehicles, followed by Indonesia with 3,416, together accounting for 94 percent of February CBU imports.

Cars with nine seats and fewer made up 79.8 percent of the imports at 8,191 vehicles worth around $163.6 million, three times higher than in January.

Industry insiders attribute February’s import surge to dealers focusing on getting new models for the upcoming car sales season, especially affordable ones from brands like Mitsubishi and Suzuki.

Vietnam's total CBU imports in the first two months marked a 43.3 percent year-on-year drop at 14,523 vehicles.

Total car sales in the first two months fell 27 percent year-on-year to 31,908 units, with the strongest drop, 30 percent, being in the below-nine-seat segment, according to the Vietnam Automobile Manufacturers Association (VAMA).