Vietnam’s car imports plunge 36.2% in 4 months

Vietnam imported 31,586 cars in the first four months of 2020 worth US$688 million, down 36.2% year-on-year in volume and 38.57% in value, the General Department of Vietnam Customs (GDVC) said in a release.

Data: GDVC. Chart: Nguyen Tung.

Upon breaking down, the country imported 24,112 passenger cars, or cars with less than nine seats, 33% less than the same period of last year, and 6,252 trucks, down 48.6%.

In April, the number of imported cars suffered a major decline of 59.5% month-on-month to 4,918 worth US$131 million.

According to the GDVC, 82% of imported cars in Vietnam in April came from Thailand with 2,416 cars, Indonesia with 1,207, and China with 424.

Passenger cars made up the largest proportion of April car imports with 3,491 units worth US$80.2 million, accounting for 71% of the total imported volume and down 65% in quantity month-on-month, or 6,340 cars; followed by trucks with 840 units worth US$21.7 million; and the remaining were other types of motorized vehicles with 573 units worth US$29 million and 14 cars with over nine seats.

Customs statistics also showed that car accessories and parts worth US$198 million were imported into Vietnam in April, down 36% month-on-month. Suppliers of those products were mainly from Japan, Thailand, China, South Korea and Indonesia.

Overall, accessories and parts from these five countries accounted for 81% of total imported value in April, resulting in an import value of US$1.17 billion for accessories and parts in January – April period, down 10.1% year-on-year.

Car sales down 36% in 4-month period

Number of car sales in four-month period. Source: VAMA.

Monthly data from the Vietnam Automobile Manufacturers Association (VAMA) revealed car sales in Vietnam are reported at 64,100 units in the four-month period, down 36% year-on-year.

Upon breaking down, of the sold units, 46,089 were passenger cars, down 37% year-on-year; 16,769 were commercial vehicles, down 30%; and 1,242 were special-purpose vehicles, down 36%. 

Sales of imported cars down 40% year-on-year in January - April. Source: VAMA.

Sales of domestically assembled cars reached 40,574 units during the period, down 33% compared to the same period of last year, while imported completely-built-units (CBUs) totaled 23,526 units, down 40%.