Industries > Consumer Products and Services

Vietnam's automobile import down 22.4 pct in 4 months

Xinhua News,HANOI
2020-05-06 13:32

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HANOI, May 6 (Xinhua) -- Vietnam spent nearly 1.9 billion U.S. dollars into importing completely-built automobiles and components for assembly in the first four months of this year, posting a year-on-year decrease of 22.4 percent.

Specifically, the country imported roughly 32,700 completely-built automobiles worth 710 million U.S. dollars, down 35.2 percent in volume and 36.6 percent in value, according to the country's Ministry of Industry and Trade on Wednesday.

Meanwhile, total automobile sales in the country stood at 78,419 units between January and March, a year-on-year plunge of 33 percent, the Vietnam Automobile Manufacturers Association said.

Complex developments of the COVID-19 outbreak have weakened demand since early February, causing plummeting sales and forced several automakers to halt production and assembly activities in the country, the association noted.

In 2019, Vietnam spent over 7.4 billion U.S. dollars importing completely-built automobiles and components for assembly, witnessing a year-on-year rise of 37.3 percent. Specifically, the country imported roughly 141,700 completely-built automobiles worth more than 3.2 billion U.S. dollars, seeing respective surges of 71 percent and 75.8 percent.
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