Auto imports drop in April

In the month, Vietnam imported 1,065 cars from China for US$41 million, up 143% in quantity and 153% in value. 

According to the Vietnam Automobile Manufacturers’ Association, April’s auto sales stood at 21,942 units, down 18% from March and 15 percent from last year.

The downward trend also hit domestically assembled cars and full car imports, which posted decreases of 10 and 35% compared to March.

Experts said the reduction was due to customers waiting for auto import tariffs to hit zero percent in early 2018, which will significantly drive down car prices.

Fourth-month auto imports and sales, however, grew 15 and 1% from the same period last year, respectively.