Vietnam car imports soar in May: report

Thanh Nien News

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Some 6,000 cars valued at US$92 million were brought into Vietnam this month, up 50 percent in terms of quantity and 3 percent in value from April, according to the General Statistics Office.
It was the most significant automotive import that the country has seen since the beginning of this year, news website VnExpress quoted the office as saying on Saturday.
Vietnam has imported 20,000 cars this year, a year-on-year increase of more than 50 percent. The imports led to a turnover of over $380 million, up more than 45 percent compared to the same period last year.
Previously the Vietnam Automobile Manufacturers’ Association said nearly 41,400 cars, mainly four-seaters, were sold in Vietnam over the first four months, a 36 percent year-on-year increase.
The increases were reported about one year after the government reduced registration fees for cars with less than 10 seats from 15 percent of the sale price to 10-12 percent, a move aimed at stimulating the domestic auto market.
According to the association, 125,000 cars will be sold locally this year, up 14 percent from last year.

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