The nation spent more than US$314 million on importing 14,500 completely built-up (CBU) cars of all kinds in January, marking a steep rise of 219% in volume and nearly 150% in value on-year, according to statistics from the General Department of Vietnam Customs.
Vietnam spent more than US$161 million on importing 6,306 completely built-up (CBU) cars of all kinds throughout the first 15 days of January, according to the General Department of Vietnam Customs.
The prices of automobiles remained high in spite of the import duty on completely-built-up (CBU) cars imported from ASEAN markets falling to zero from 30% in 2017. Customers did not benefit from the reduction, and even paid a high price for CBU automobiles with fewer than nine seats last year.