Imports of CBU automobiles on the rise

15:43 | 02/07/2015 Trade

More than 56,000 completely built units (CBUs) of automobiles were imported during the first half of this year, an increase of 30,000 units over the same period last year.

Imports of CBU automobiles on the rise

Enterprises have stepped up the imports of vehicles that serve production and transportation this year. — Illustrative photo

The officials of the Ministry of Planning and Investment (MPI) said at a meeting on June 24 that of the total number of CBUs, 18,000 were vehicles with nine seats or less, while up to 36,000 were trucks and buses.

Earlier, the General Department of Customs reported that Viet Nam imported more than 45,700 CBUs during the first five months, up nearly 130 per cent year-on-year. Their combined value was US$1.2 billion, a year-on-year increase of 183 per cent.

In five months, cars with nine seats or less reached some 15,800 (up 74 per cent) in number and $186 million (up 69 per cent) in value. Trucks reached roughly 17,160 (up 95 per cent) and $455 million (up 123 per cent) in number and value, respectively.

The MPI officials said the latest data indicated that enterprises stepped up the imports of vehicles that serve production and transportation. The sharp rise in the number of trucks was due to a tighter policy of the Ministry of Transport for controlling vehicle weights to ensure safer road traffic, they added.

A sizable number of Chinese trucks reportedly entered the Viet Nam market over the last few months, threatening similar vehicles manufactured and assembled domestically, as well as the national automobile industry.

The MPI Deputy Minister Dang Huy Dong stressed that the situation required attention as some domestic policies were virtually stimulating demands for products from other countries.

Source: VNS