ASEAN KEY DESTINATIONS
Vietnamese auto imports fall in September
If these estimates prove correct, it would signal a decrease in both import volume and value for a second consecutive month, the GSO reported.
Compared with last month, the numbers marked a 20 per cent decrease in volume and 2.17 per cent decline in value.
"This month, auto traders have limited their imports as they have had to balance their stockpiles of imported vehicles which were imported several months ago," said Tran Thai Duong, head of the Marketing Department under the Kylin GX668 Joint Stock Company.
He added that companies had not imported large volumes of vehicles as they now had to pay all taxes in advance, following a Government crack-down on tax evasion in the car sales sector. "Part payment of taxes such as VAT, import duties, and special consumption taxes in arrears is no longer allowed," Duong said.
Duong added that although import volume had decreased, there had been some positive signs that indicated consumers were still interested in new car purchases. These cars would be imported in the next few months, so import volume would increase.
Nguyen Trung Hieu, an official from the Viet Nam Automobile Manufacturers' Association (VAMA) said in the last months of this year, the volume of imported auto would increase.
The number of cars imported to Viet Nam from May to July stood at 5,300 units, 4,600 units and 4,000 units, respectively.
In May and June, car imports cost the country $89 million each, with $96 million in July. Experts attributed the increase in value to the new trend for luxury cars among domestic consumers.
Comment on this Article. Send them to firstname.lastname@example.org
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below