Vietnam’s automobile import plunges in eight months

HANOI (Xinhua) – Vietnam spent over USD3.5 billion on importing completely built automobiles and components for assembly in the first eight months of this year, posting a year-on-year decrease of 28 per cent.

Specifically, the country imported nearly 53,000 completely built automobiles worth over USD1.2 billion, down 44.3 per cent in volume and 43.7 per cent in value, according to the country’s Ministry of Industry and Trade yesterday.

Vietnam’s total automobile sales in the first seven months of this year stood at 131,248 units, a year-on-year plunge of 28 per cent, according to the Vietnam Automobile Manufacturers Association. In 2019, Vietnam spent over USD7.4 billion importing completely built automobiles and components for assembly.

Specifically, the country imported roughly 141,700 completely built automobiles worth over USD3.2 billion, according to its General Statistics Office.