Chinese cars are flooding into Vietnam.

A Chinese car manufacturer has officially entered the Vietnamese market - Photo: C-Magazine

According to the latest analysis by the General Department of Customs on the import of complete automobiles, in August, 15,061 automobiles with a total value of 299 million USD underwent customs procedures for import into Vietnam.

The difference compared to previous years is that Vietnam's car import market now includes China. Specifically, 6,384 cars originated from Thailand; 5,770 from Indonesia; and 2,443 from China.

The number of cars imported from these three markets reached 14,597 units, accounting for 97% of the total number of cars imported into Vietnam.

Of these, vehicles with fewer than 9 seats accounted for 12,776 units, representing 84.8% of all types of completely assembled cars imported into Vietnam.

Notably, the majority of imported passenger cars with 9 seats or fewer originated from Indonesia (5,768 units), followed by Thailand (5,353 units), and China (1,223 units).

Overall, the number of completely assembled cars with 9 seats or fewer imported from Thailand, Indonesia, and China reached 12,334 units, accounting for 97% of the total number of this type of vehicle imported into Vietnam.

As for cars with more than 9 seats, according to the General Department of Customs, 18 vehicles were imported in August, all originating from China.

In August, 916 specialized vehicles were imported, of which 833 were from China.

As for trucks, 369 out of a total of 1,351 imported in August were Chinese-made.

Thus, cumulatively for the first eight months of the year, the whole country imported 106,627 cars, of which 19,649 were from China, with an expenditure of 581.9 million USD (equivalent to 14,555 billion VND).

Meanwhile, in 2023, the number of Chinese cars imported was 11,002 units with an import value of $394.2 million (equivalent to VND 9,855 billion).

In 2022, the whole country spent $714.6 million (equivalent to VND 17,865 billion at the current exchange rate) to import 17,333 Chinese cars.

Thus, in just 8 months, the number of cars imported from China has exceeded the total number of cars originating from this market for the entire year of 2022 and 2023.

Specifically for automotive components and spare parts, according to preliminary statistics from the General Department of Customs, in August the whole country spent 426 million USD to import various types of automotive components and spare parts.

This group of goods has very diverse origins, but mainly originates from China with $129 million, while imports from South Korea amount to $80.7 million; Thailand with $55.5 million; Japan with $45.3 million; India with $42.3 million; and Indonesia with $35.4 million…

Source: https://tuoitre.vn/o-to-trung-quoc-don-dap-do-bo-vao-viet-nam-20240924082707265.htm