Car imports from Indonesia have increased sharply.

The Toyota Wigo is the latest Indonesian-made model to be imported to Vietnam.

The Vietnamese market continued to see a decline in imports of completely built-up (CBU) automobiles in May. The number of vehicles imported last month reached only 7,608 units, equivalent to a value of over $191 million. This represents a decrease of 38.3% in quantity and 33.6% in value compared to the previous month.

Notably, during this period, Indonesia surpassed Thailand to become the largest exporter of complete automobiles to Vietnam, with 2,966 vehicles. However, the total value only reached over $36 million, half that of Thailand.

This accurately reflects the reality that most cars originating from Indonesia belong to the mainstream, low-cost segment, such as the Toyota Wigo, Suzuki XL7, and Hyundai Stargazer. Meanwhile, cars imported from Thailand are in the mid-range segment, with higher value, such as the Toyota Corolla Cross, Ford Everest, and Honda HR-V. Currently, many models from Indonesia continue to be imported into the country in preparation for upcoming launches, most notably the Honda BR-V.

According to the data, in May, the number of cars imported from Japan increased sharply, reaching 309 vehicles, enough to surpass the US and take fourth place (after China). This is significantly higher than the figure for April (199 vehicles).

Meanwhile, Germany was the leading market in terms of average value per imported car, with 117 units imported, reaching a turnover of over $9.5 million, equivalent to an average price of over $81,500 per car. This also represents a major source of luxury cars for the Vietnamese market.

The Honda BR-V, a model soon to be sold in Vietnam, is also manufactured in Indonesia.

In the first five months of this year, Vietnamese businesses imported a total of 61,954 complete automobiles with a value of over $1.4 billion, still 22% higher in quantity and 10.2% higher in value compared to the same period last year.

In addition, the value of imported automotive components and parts in May reached over $327 million, an increase of 0.1% compared to April. For the first five months of the year, the cumulative value reached over $1.65 billion, a decrease of 28.7% compared to the same period last year.

Meanwhile, imports of motorcycles and motorcycle parts and accessories reached nearly $53 million in May, up 6.1% from April. In total for the first five months of the year, the value reached nearly $268 million, down 14.7% compared to the same period in 2022.

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