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The imported automotive market is vibrant, the Indian automotive collection is extraordinarily costly


Lately, the Normal Division of Customs has introduced the import knowledge of CBU vehicles of every kind and auto elements and equipment in February 2022. Accordingly, in February, the variety of CBU vehicles of all kinds registered for import customs declarations elevated by 102.3 % in comparison with the earlier month’s import quantity.



The imported automotive market is vibrant, the Indian automotive collection is extraordinarily costly
The imported automotive market is vibrant, the Indian automotive collection is extraordinarily costly (Web photograph)

Particularly, the variety of CBU vehicles of every kind in February reached 9,152 models with a worth of 212 million USD. Amongst imported vehicles, vehicles with 9 seats or much less had been 8,046 models, valued at USD 159.5 million, accounting for 87.9% of imported CBU vehicles of every kind, a rise of 100.7%. equal to 4,038 models) in comparison with the earlier month. For vehicles with over 9 seats, solely 12 had been imported, down 46.9% from the earlier month.

In the meantime, transport vehicles are 304 models, with a worth of 18.9 million USD; up 16.9% in quantity and 61.9% in worth over the earlier month. There are 211 of those vehicles originating from China, up 37.9% and there are 70 models originating from Thailand, down 33.3% in comparison with the earlier month.

Statistical desk of the state of affairs of CBU vehicles of every kind registered with the Customs in February 2022. Supply: GSO

Specialised vehicles within the month imported 790 models with a declared worth of USD 33.7 million, thus rising sharply by 223.8 % in quantity and 110.2% in worth in comparison with the earlier month.

If the cumulative calculation for two months of 2022, the overall variety of CBU vehicles of every kind imported to Vietnam is 13,690 models, down 25.2% over the identical interval final 12 months; wherein, vehicles with 9 seats or much less had been 12,075 models, down 0.7%; transport vehicles had been 569 models, down 87.9%.

Notably, the origin of CBU imported vehicles into Vietnam primarily comes from 4 markets together with Thailand with 4,688 models; from Indonesia with 2,592 items; from China with 1,033 models and from the USA with 415 models.

Graph of imported CBU vehicles of every kind in 2 months of 2021 and a pair of months of 2022 (Unit: Unit). Supply: GSO

As soon as a “fertile” market of Vietnam, nevertheless, India instantly “misplaced monitor” within the high import markets of Vietnam. It’s price mentioning that the import worth isn’t as low cost as earlier than. Beforehand, it was just a few tens of thousands and thousands of dong, however now it has reached tons of of thousands and thousands of dong, then climbing to billions, even tens of billions of dong every.

In February, Vietnam imported 10 vehicles from India with a worth of 5 million USD. On common, every automotive imported from this nation prices as much as 500,000 USD, equal to 11.5 billion VND. At this worth, vehicles imported from India are almost 36 occasions larger than the value of vehicles imported from Indonesia (322 million VND), 25 occasions larger than the value of Thai vehicles (454 million VND) and 12 occasions larger than vehicles imported from the home market. Chinese language market (928 million VND).

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