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Vietnam sharply increases car imports in 2021

In 2021, the number of CBU cars imported to Vietnam reached 160,035 vehicles, an increase of 52% compared to the same period in 2020, only cars from Thailand and Indonesia accounted for 78%.

Imported cars are still massively entering Vietnam despite the impact of the Covid-19 epidemic. According to the General Department of Customs, businesses in Vietnam import a total of more than 160,000 vehicles in 2021, equivalent to more than 13,300 vehicles per month.

The number of imported cars originating from Thailand reached 80,903 units, Indonesia 44,250 units, totaling 125,153 vehicles, accounting for about 78% of the total imported volume. Particularly, cars of Chinese origin reached 22,753 vehicles, mainly commercial and specialized vehicles.

For passenger cars alone, the number of cars imported into Vietnam in 2021 will reach 109,728, up 45.2% over the same period in 2020. On average, more than 9,000 new cars arrive at Vietnamese ports every month.

Import of automobiles still increased in volume as predicted by experts. Cars from Thailand and Indonesia occupy the main market share and are passenger cars. Compared to 2020, the total number of cars imported from these two countries increased by about 43%.

The preferential import tax of 0% under the ATIGA Free Trade Agreement is the basis for manufacturers to continue to import cars for sale. Another factor is that the cost of producing a vehicle in Vietnam is much higher than the average in Southeast Asia. Particularly, Thailand and Indonesia have large market capacity, long established manufacturing and assembly factories and developed supporting industries.

In the segment of auto parts and accessories, Vietnamese enterprises imported 4.92 billion USD, up 22.9%, equivalent to 916 million USD increase over the same period last year.

Pham Trung


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