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Will Chinese cars flood the Vietnam market? |
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Importing more than 1,000 Chinese cars in one month |
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| Cars imported from China in the first eight months of 2024 and in recent two years. Chart: T.B |
In August, the country imported 15,061 CBU cars, with a total turnover of US$299 million. The three major markets exporting cars to Vietnam include Thailand with 6,384 cars, Indonesia with 5,770 cars and China with 2,443 cars.
12,776 9-seater cars were imported in August, with total turnover of US$224, accounting for 84.8% of the imported cars of all kinds.
9-seater cars were mainly imported to HCM City Port area with, down 13.2% compared to the previous month and to the Hai Phong port with 5,092 cars, up 11.8%.
9-seater cars registered for import in August were mainly from Indonesia with 5,768 cars, up 10% compared to the previous month; from Thailand with 5,353 units, down 27.5% and from China with 1,223 cars, up 22.9%.
In the first eight months, the country imported 106,627 cars, of which 43,810 cars were imported from Indonesia with import turnover of US$642; 39,101 cars imported from Thailand, with import turnover US$756.64 million; 19, 649 cars imported from China, with the import turnover of US$582 million.
Notably, among the three major markets, the Chinese market has seen strong growth, with the number of imported cars increasing by 2.8 times compared to the same period in 2023.
Notably, the number of imported cars from this market in the first eight months exceeded the volume of both 2022 and 2023. Specifically, in 2023, Vietnam imported only 11,002 cars from China with a total turnover of US$ 394.2 million. Meanwhile, in 2022, 17,333 cars were imported, with a total turnover ofUS$714.6 million.
