VIETNAM IMPORT EXPORT NEWS CHANNEL

Auto import revenue unexpectedly increased in May, a phenomenon that even car dealers are at a loss to explain.

All automobiles with a capacity of 16 or fewer passengers will be imported through only five international seaports with tightened customs clearance procedures.

The Ministry of Industry and Trade (MOIT) is drawing up a plan under which Vietnam will continue protecting domestic automobile production until 2018 by imposing high import tariffs on cars and car components that can be made domestically.

The country spent total $88.5 million on importing 5,339 Complete Built Units (CBU) in May, surging 52.1 percent in volume and 44.1 percent in value from April’s 3,511 units worth $61.4 million, reported general Department of Customs.

The sixth Vietnam International Automobile & Support Industries Exhibition and Conference (Vietnam AutoExpo 2010) will be held in Hanoi from June 9-12.

An imported BMW car displayed at a local car show. Vietnam’s industry and trade ministry has requested the government to continue giving preferential treatment to the local automobile industry until 2018. Vietnam will open the car market completely in 2018 under free trade agreements and local manufactures need to improve their competitiveness by then, the [...]

Car sales in Vietnam rose 7 percent in May from the same month last year to 9,386 vehicles, with a domestic manufacturer selling the most, an industry association said. Ho Chi Minh City-based Truong Hai Auto Corporation took the top position, its sales surging 21 percent from a year earlier to 2,465 vehicles and racing [...]

A security guard sleeping in front of a HCMC auto showroom. Local consumers are not interested in imported cars. The imported automobile market has been looking gloomy since early this year. As a result, car importers are struggling with the decline in sales and are suffering with lower benefits and losses.

The Ministry of Industry and Trade (MoIT) announced that it will apply technical barriers and tax policies to restrict the import of products including automobiles.

In April, total car sales of domestic automobile manufacturers continue to grow, reaching 9,551 units, up 23 percent over the same period last year.