Car imports plummet nearly 50%, COVID-19 blamed
Vietnam imported 44,973 cars in the first seven months, down 47.5% year-on-year amid a slump in auto demand due to COVID-19.
The value of the cars was around US$1 billion, falling by 47% year-on-year, according to Vietnam Customs.
Over 80% of the cars were imported from Thailand and Indonesia, tax-free under the ASEAN Trade in Goods Agreement. Thailand accounted for 19,944 units and Indonesia for 17,723.
July saw a recovery from the previous month to 4,760 cars worth US$107.7 million, up 34 % and 10%.
Auto sales in the first seven months fell 28% year-on-year to 131,200 units, with the Vietnam Automobile Manufacturers Association (VAMA) blaming it on a fall in demand due to the pandemic.
