Despite the complicated development of the COVID-19 pandemic greatly impacting the domestic auto market, the number of completely built-up (CBU) units exported into Vietnam remained high, 1.5 times higher than the figure seen in 2020.
Most notably, December 2021, saw the country import 15,196 cars worth US$432.65 million. The number of imported cars reached a total of 160,035 units, costing US$3.66 billion for the entirety of 2021, a rise of 52.1% in volume and 55.7% in value compared to 2020.
Thailand, Indonesia, and China represent the top three suppliers of those products in the Vietnamese market with 147,906 cars, accounting for 92.4% of the total amount of imported cars.
The country imported 80,903 cars from Thailand valued at US$1.5 billion, making up half of its total car imports.
Elsewhere, Indonesia ranked second with 44,250 cars worth US$559.5 million, whilst third place went to China with 22,753 cars valued at US$873 million.
Similar to imports, car sales in Vietnam recorded considerable growth. Indeed, last year there were 299,800 domestically assembled cars, marking an annual increase of 9.1%.