Business

Car imports drop by more than 40 percent

SGGP
The Ministry of Industry and Trade said that the total volume of imported automobiles in the first two months of this year was much lower than the same period last year, reaching 14,523 units, down 43.7 percent.
Of which, the number of below-nine-seat cars was 10,768 units, down 39.6 percent; the number of trucks was 3,425 units, down 53.3 percent. In February alone, completely-built-unit cars were mainly imported from Thailand with 6,271 units and Indonesia with 3,416 units, accounting for 94 percent of the total volume of imported cars in the month.

The reason is that the inventory of imported cars in 2019 is still high. Automobile manufacturers are waiting as the Ministry of Finance has submitted to the Government a decree to gradually reduce import tariffs on components, or remove import tariffs for qualified enterprises. If the decree is passed, domestically-assembled cars will have an opportunity to lower their cost prices to The Ministry of Industry and Trade said that the total volume of imported automobiles in the first two months of this year was much lower than the same period last year, reaching 14,523 units, down 43.7 percent. with imported cars.

By Lac Phong – Translated by Thanh Nha

Other news