Import of new and second hand cars into Vietnam increased dramatically in June this year with a total of 7,302 cars being imported, according to the Customs Department.
|Within the first six months of 2011, Vietnam has imported 34,138 cars worth US$631.5 million (Photo: U. Phuong)|
Within the first six months of 2011, Vietnam has imported 34,138 cars worth US$631.5 million, an increase of 48 percent and 55.3 percent in quantity and turnover respectively, higher than the same period last year.
The reason for this rise in car imports is that many businesses imported cars before Circular 20 issued by the Ministry of Industry and Trade took effect on June 26 this year.
According to Circular 20 sent by the Ministry concerning import of new cars, dealers would have to submit the following documents: authorization of a genuine manufacturer, authorized agent contract approved by Vietnamese diplomatic missions in the related country and warranty and maintenance certificates issued by the Ministry of Transport.
Meanwhile, import turnover of car accessories in June reached $160 million, up by 2.2 percent against May. This lifted the first six month turnover to $977 million, 6 percent higher than in the same period last year.