The Ministry of Industry and Trade reported that Vietnam imported 29,054 automobiles worth US$732.64 million in the first four months this year. The number includes 10,155 CBU (completely built unit) ones from Thailand, making it the leading exporter of this item to Vietnam.
|Customers at a car shop in HCMC (Photo: SGGP)|
Explaining the surging import from Thailand, the ministry said import tariff has been cut to 40 percent from 50 percent for CBU automobiles from ASEAN creating conditions for Thai automakers to lower their prices.
The import tariff will continue sliding to 30 percent early next year and 0 percent in the following year.
In addition, special consumption tax on automobiles will also reduce by 5 percent to 40 percent in July for those with cylinder capacity from 1.5-2 liters.
Hence Thai CBU automakers will have more advantages to continue decreasing prices in Vietnam.