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Auto imports zoom to new high
Updated: 11:29, 11/01/2023
Auto imports rose by 8.4% last year to a record 173,467 units, which cost US$3.84 billion according to Vietnam Customs.
The previous highest number was over 160,000 in 2021.
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Corolla Cross, an imported model of Toyota in Vietnam. |
Indonesia and Thailand were the biggest sources of the imports last year, accounting for 41.9% and 41.5%.
China was third with 10%.
The government has issued a decree to encourage auto imports from ASEAN countries to comply with the ASEAN Trade in Goods Agreement.
From 2022 to 2027 vehicles produced within ASEAN with over 40% locally sourced components are exempt from import tax.
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Source: VnExpress
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