CBU (complete built unit) imports from Thailand account for more than 50 percent of total car imports and turnover in the first eight months of the year, according to the General Department of Customs (GDC).
GDC reported that by the end of August, Vietnam had spent $2.136 billion, or VND50 trillion to import 95,929 cars of different kinds, of which imports from Thailand accounted for 50 percent. At least 56,792 products were imported from the country, worth $1.1 billion.
|Car dealers predicted that the import price would decrease to below VND400 million because the Thai market is getting saturated. As car output is increasing rapidly, the Thai government is applying policies to encourage exports.|
According to the Federation of Thai Industries, the automobile industry will produce 2.15 million cars this year, of which 1.05 million cars will be sold domestically and the remaining exported. Meanwhile, Thai exports to Europe are facing problems, so the exports will mostly target the Asian market.
HCMC has approved a plan to raise registration fees for new automobiles and motorbikes to the highest level, with the fee for under-nine-seat cars being raised to VND20 million from VND11 million.
The Ministry of Industry and Trade is expected to submit to the Government an automobile industry development plan with solutions to supporting auto manufacturing projects in Vietnam.
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