Which nation dominates Vietnam's imported automobile market in August?

DNHN - Asian markets continue to dominate Vietnam's car imports, with Thailand continuing to lead the way with 39,261 vehicles imported in August.

In the first eight months of 2023, the General Department of Customs recorded the importation of 86,749 automobiles with a total value of more than USD 2 billion. However, this represents a slight decline in volume and value, down 9.8% compared to the same period in 2022.

In August alone, Vietnam imported 6,929 automobiles in their entirety worth a total of 162,4 million US dollars. This data shows a sharp decrease in both volume and value, down 22.4% in volume and 25.2% in value compared to July 2023.

Asian markets continue to dominate automobile imports into Vietnam, with Thailand continuing to hold the top position with 39,261 automobiles imported into Vietnam in August, valued at a total of USD 825,000,000.00. Indonesia follows with 32,118 units valued at 439,8 million USD. China ranked third with 6,985 units worth a total of $272,544,000.

In addition, Vietnam imports complete automobiles from numerous markets, including the United States, Germany, Japan, South Korea, and France...

According to the Vietnam Automobile Manufacturers Association (VAMA), the domestic car market sold 24,687 vehicles in July, representing a slight increase of 4% compared to June. However, compared to the same period in 2022, the market has experienced a significant 18% decline in value.

In 2022, Vietnam's domestic auto market exhibited impressive growth; however, after two months of growth in early 2023, sales began to decline sharply in the subsequent two months, with 22,409 vehicles sold in April and 20,779 vehicles sold in May.

P.V (t/h)