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China among top 3 Vietnam’s largest car exporters

March 12, 2021 | 10:14

In the first two months of 2021, the number of completely-built automobiles (CBU) imported into Vietnam surged despite the Covid-19 pandemic. Notably, China became one of the three largest car exporters to the Vietnamese market.

cars imported to vietnam from china on increase Cars imported to Vietnam from China on increase
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Illustrative photo: Dan Tri

According to the latest data released by the General Department of Vietnam Customs, in February 2021, the number of cars imported into Vietnam reached 10,000 units, of which nearly 7,000 were cars with less than 9 seats. Generally, in the first 2 months of 2021, the number of imported cars to Vietnam stood at more than 18,300 units, representing a year-on-year increase of more than 3,500 units, according to Dan Tri.

Particularly, the number of small cars imported into Vietnam was estimated at 12,200 units, increasing nearly 2,000 units over the same period last year.

China, Thailand, and Indonesia were the three largest car exporters to the Vietnamese market. The number of cars imported from these three countries into Vietnam in February was estimated at more than 9,000 units, accounting for more than 90%. Generally, in the first two months of the year, the number of cars imported from these three countries to Vietnam reached about 16,200 units, accounting for nearly 90%.

Notably, the number of cars imported from China increased 8 times over the same period last year, reaching more than 2,000 units. The number of cars from Thailand reached over 9,500 units, an increase of more than 1,500 units over the same period last year. The number of cars from Indonesia was 4,700 units, a slight decrease of 400 units over the same period last year.

The prices of cars imported from the abovementioned markets are gradually becoming cheaper. Cars imported from China had an average price of more than 813 million VND/ unit (US$ 35,327), declining almost 200 million VND (US$ 8,690) and 180 million VND (US$ 7,821) compared to the same period in 2020 and 2019 respectively.

Cars imported from Thailand had an average price of 450 million VND/ unit (US$ 19,554), down over 74 million VND (US$ 3,215) compared to the same period last year. Meanwhile, cars imported from Indonesia had an average price of 290 million VND (US$12,601).

Cars imported from Indonesia were mainly in segments A and B including Toyota Wigo, Mitsubishi Mirage, Xpander, or Nissan Sunny.

The number of cars imported into Vietnam from China recently soared, surprising both car dealers and consumers. However, according to Customs' data and Harmonized System (HS) codes, car types imported from the neighboring country were mainly trucks and specialized vehicles.

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Malie Nguyen