Car imports hit record low

Vietnam’s car imports have dropped to a record low in 43 months.

Last August saw only 1,869 cars worth US$46.6 million imported, down 8.1 percent in volume and 11.2 percent in value against the previous month.

According to the General Department of Vietnam Customs, the Republic of Korea took the lead with its total sale of 636 units (worth a total of US$12.2 million), followed by Thailand (459 units), China (249 units), the US (155 units) and Indonesia (125 units).

In the first eight months of this year, car imports fell by 56.6 percent to 17,902 units and by 50 percent to US$386 million while the value of car spare parts also went down by 26 percent to US$967 million.