Thailand - top auto exporter to Vietnam

16:12 | 25/04/2016 Society

Thailand has become Vietnam’s leading automobile exporter in the first quarter of this year, with a volume of more than 7,800 units, a 64.5 percent increase compared with the same period last year.

Thailand - top auto exporter to Vietnam

Thailand exported 7,800 cars to Vietnam in the first quarter of this year (Photo: congly.vn)

Statistics from the General Department of Vietnam Customs showed Thailand was followed by the Republic Korea with 3,560 units and China with 2,260 units, a year-on-year decline of 41 percent and 58 percent, respectively.

Preferential import tax policies caused the sharp increase of cars imported from Thailand, under Vietnam’s commitments to the ASEAN Trade in Goods Agreement.

With preferential policies on taxes, Thailand has attracted many well-known auto brand names to build production plants in the country, including Ford, Toyota, Honda and Nissan.

In car manufacturing, Thailand has reached a locally manufactured rate of between 80 percent and 90 percent. Meanwhile, the rate in Vietnam is between 20 and 40 percent. That’s why Thailand’s vehicles are priced lower than Vietnam’s.

Thailand has more than 2,000 auto part manufacturers. This has not only helped the country increase its local supply rate, but also helped it become the biggest hub for auto and part exports in the Southeast Asian region.

The statistics from the General Department of Vietnam Customs showed that the country imported more than 19,700 units in the first quarter of this year, a year-on-year drop of 16.8 percent. The reduction occurred in nearly all kinds of vehicles, aside from trucks.

Of the figure, there were 9,860 trucks imported, an increase of 16 percent. Meanwhile, the remainders were nearly 6,900 nine-seat cars and lower, and more than 3,000 other vehicles, a reduction of 37.6 and 45.6 percent, respectively./.

 

Source: VNA




 

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