Vietnam spends US$3.62 billion on car imports in 2024
VOV.VN - Vietnam imported 173,561 cars totaling US$3.62 billion in 2024, up 45.8% in volume and 27.6% in value year on year, according to the General Department of Vietnam Customs.
December alone witnessed the number of completely built-up cars (CBUs) imported reach 12,881, equivalent to US$303.7 million, down 27.9% in volume and 19.2% in value from November.
Vietnam mainly imported cars from Asian countries, particularly Indonesia, Thailand, and China. Overall, it imported 165,609 fully completed cars from these three Asian markets, accounting for nearly 95.4% of the total market share.
Indonesia was the largest exporter of cars to the Vietnamese market, delivering 70,728 vehicles worth US$1.036 billion.
It was followed by Thailand with 63,769 vehicles valued at US$1.24 billion, while China contributed 31,112 cars costing US$909 million.
Meanwhile, total car sales in 2024 exceeded 450,000 units, including contributions from members of Vietnam Automobile Manufacturers' Association (VAMA), non-VAMA importers, Hyundai Thanh Cong, and VinFast. The government’s reduced registration fees in the last three months of the year significantly boosted sales.
The fee reduction policy provided a major stimulus, leading to an impressive year-end sales surge and record-breaking results for the auto market.
