Weak purchasing power, car imports decrease sharply

12/21/2023 14:04 Nhat Linh Print article

ANTD.VN - Imported cars from the beginning of the year have decreased sharply compared to the same period last year with the number of cars decreasing by more than 48,000 units, import turnover decreasing by nearly 900 million USD.

According to preliminary statistics from the General Department of Customs, in the first half of December, the country imported 3,416 complete cars, with a turnover of 86.786 million USD.

The main imported car line during this period was cars with 9 seats or less with 2,954 cars, worth 55.25 million USD.

In total, from the beginning of the year to December 15, the country imported 114,708 complete cars of all kinds, with a turnover of 2.74 billion USD.

The above results decreased sharply compared to the same period last year with the number of cars decreasing by more than 48,000 units, import turnover decreasing by nearly 900 million USD.

The car market is very quiet this year.

Car imports have dropped sharply as the domestic car market remains gloomy, even though Tet is approaching.

According to the latest report of the Vietnam Automobile Manufacturers Association (VAMA), in November 2023, the total market sales reached 27,953 vehicles, almost equal to October 2023, down 23% compared to November 2022.

In the first 11 months of 2023, total sales of the entire market decreased by 29% compared to the same period in 2022, to only 263,249 vehicles. Of which, sales of passenger cars decreased by 31%; commercial vehicles decreased by 16% and specialized vehicles decreased by 57% compared to 2022.

By the end of November 2023, sales of domestically assembled cars decreased by 25% compared to the same period, to more than 157,336 vehicles; while imported cars decreased by 34% to only 105,913 vehicles.

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