During the first eight months this year, the country imported 65,485 CBU (completely built up) automobiles with the total value of $1.39 billion, down 5 percent in volume and 12.8 percent in value over the same period last year.
The year on year decrease partly showed the gloomy auto market for the last months. Despite implementing a slew of discount programs, automakers have seen dropping sales because of new tax policies.
Specifically, import tariff rates of less than nine seater vehicles from ASEAN to Vietnam will reduce from 30 percent to 0 percent by 2018. Therefore, consumers have been waiting for further price drop.