CBU vehicle imports rebound sharply
CBU vehicle imports rebound sharply
The import of Completely Built Unit (CBU) vehicles has increased sharply in the first 10 months of 2021, according to the latest data by the General Department of Customs (GDC).
Accordingly, Vietnam impoerted 15,360 CBU vehicles with a value of about $349 million in October, up 77.2 per cent in volume and 77.1 per cent in value compared on-month.
Due to the heavy impact of the COVID-19 pandemic, imports of CBU vehicles fell to 10,000 units in August and 8,700 units in September. As Vietnam reopened in October, CBU imports rebounded to over 15,000 units, the average firgure recorded before the fourth wave.
It is worth noting that consumers have tightened their budget amidst the large outbreak. However, the volume of CBU cars imported to Vietnam still increased in the first 10 months of 2021.
According to data from the GDC, Vietnam imported 130,000 CBU vehicles valued at $2.89 billion in the first 10 months, up 61.6 per cent in volume and 63.9 per cent in value over the same period last year.
Thailand, Indonesia, and China were the top suppliers. Among them, Thailand took the lead in the number of improted cars with 65,600 units, followed by Indonesia (37,900 units) and China (16,300 units).
According to the Vietnam Automobile Manufacturers' Association (VAMA), the sales of CBU imported cars are looking better than that of Completely Knocked Down (CKD) vehicles. Specifically, CKD sales in September reached 7,316 units, an increase of only 37 per cent compared to the previous month while the CBU segment posted a 76 per cent increase to 6,221 units in the same month.
The Ministry of Finance is collecting feedbacks for a draft decree to reduce registration fees by 50 per cent for CKD cars for six months. If approved, this fee cut will be a major boost for the year-end auto sales season for domestic auto assemblers.
