According to Vietnam Customs General Department data, Vietnam’s completely built-up (CBU) vehicle imports reached 142,794 units in the first ten months of this year, a 37.5% increase compared to the same period last year.
The data shows that in the import vehicle composition, vehicles with nine seats or fewer dominated, accounting for 82% of total imports.
Regarding import sources, Indonesia is Vietnam’s largest automobile import country. Since the beginning of this year, the number of vehicles imported from Indonesia reached 57,963 units, an increase of 19,569 units compared to the same period last year. Thailand ranked second with 54,481 imported units, up 7,535 units year-over-year. China ranked third with 24,613 imported units, an increase of 16,112 units compared to the same period last year.
Data from the Vietnam Automobile Manufacturers Association shows that October automobile sales reached 38,761 units, up 6% month-over-month and 53% year-over-year.
Specifically, domestically assembled vehicle sales in October reached 21,113 units, up 8% month-over-month; imported vehicle sales reached 17,648 units, up 3% month-over-month.
The association stated that the increase in domestic assembled vehicle sales in October was mainly due to the government’s 50% vehicle registration fee reduction policy implemented from September to November this year.
Additionally, from January to October this year, Vietnam’s total automobile and parts imports reached $6.84 billion, an 18.2% increase year-over-year.
Key Data Summary:
- First 10 months CBU imports: 142,794 units
- Year-over-year increase: 37.5%
- Nine-seater and below vehicles: 82% share
- Major import sources:
- Indonesia: 57,963 units
- Thailand: 54,481 units
- China: 24,613 units
- October sales data:
- Total sales: 38,761 units
- Domestic vehicles: 21,113 units
- Imported vehicles: 17,648 units
- Automobile and parts import value: $6.84 billion
To some extent, this reflects the rapid development of Vietnam’s automobile market, particularly showing positive growth momentum in the domestic automobile market driven by government support policies. The continued expansion of the imported vehicle market also indicates growing Vietnamese consumer demand for diverse automotive products.
