Vietnam H1 car imports down 21.4%

Vietnam imported 63,731 cars worth $1.57 billion in the first six months of 2022, down 21.4% in volume and down 14.4% in value year-on-year, according to customs data.

Experts attribute the reduction in imported cars to a global shortage of chips that are used to control various functions in a car.

The imported cars included 49,050 completely built units (CBU) below nine seats, down 9.3% year-on-year; 8,988 pickup trucks, down 53%; and 5,586 autos of other types, down 27.9%.

Only 107 cars with more than 9 seats were imported in the first half of the year.

In terms of value, the biggest supplier was Thailand with 27,427 units worth $553 million, down 32.2% in volume and 27% in value.

Second was Indonesia with 20,284 units worth $285.53 million, a 12.1% drop in volume and 0.5% reduction in value; followed by China with 10,892 units worth $443.4 million, down 5% and up 4.4%, respectively.

The average price of one imported car was $24,680, higher than $22,650 in the same period last year.