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Vietnam Automobile market

VIETNAM
Automobile Market
Vehicle imports on the rise
Since the start of 2007, Vietnam has imported 14,000 cars, representing an increase of 62.2 per cent from the same period last year, reported the General Statistics Office (GSO).

The country has spent US$271 million on imported cars, up 92.5 per cent compared to last year's figures.

In August alone, 3,000 cars were imported, valued at $60 million, the GSO said.

Growth rate on volume of imported motorbike has also strongly increased recently. In August, the country poured $87.1 million to purchase 83,200 motorbikes, boosting the number of imported motorbikes since the beginning of the year to 231,300 units.

The HCM City Customs Department said that since July, about 500 high capacity motorbikes had arrived in the city.

The volume of imported vehicles had increased with the Ministry of Finance's decision to lower taxes on new cars from 80 per cent to 70 per cent, GSO said. VNA reports

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