Vietnam spends nearly US$3 billion on car imports over 10-month period

In October alone, the country spent US$374 million importing 18,101 CBUs, showing a sharp increase of 88.3% in volume and 46.7% in value against the same month last year.

Figures indicate that so far Indonesia, Thailand, and China have become Vietnam’s three largest suppliers of cars with a volume of 120,418 units, accounting for 96% of the total market share.

Indonesia represented the biggest supplier of cars to the Vietnamese market with 50,890 units valued at US$746 million.

Thailand ranked second in terms of volume, but took the lead for value. The neighbouring country exported 47,580 units worth US$923 million to the Vietnamese market.

China exported 21,948 units worth US$653.4 million to the country, ranking third for both quantity and value.