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Vietnam posts all-time high auto imports in 2022

HANOI, Jan. 12 (Xinhua) -- Vietnam posted an all-time high import of automobiles with 173,467 units worth over 3.8 billion U.S. dollars last year, according to the General Department of Vietnam Customs.

The number of imported units surpassed the previous record of about 160,000 units in 2021, posting an increase of 8.5 percent in volume and 5.1 percent in value year-on-year, local newspaper Vietnam News reported on Thursday, citing the department.

In December alone, a total of 21,896 units worth 431.55 million dollars were imported, which marked the second biggest import in the year, behind November with roughly 23,000 units.

Indonesia, Thailand and China were the biggest auto exporters of Vietnam. Indonesia surpassed Thailand to become the biggest seller in terms of volume but Thailand still ranked first in value.

With a combined 162,043 units, the above three markets accounted for 93.4 percent of the country's total auto imports, said the department.

Vietnam will continue to exempt import tax on CBU cars from the ASEAN countries until the end of 2027.

Vehicles from the bloc, mainly Thailand and Indonesia, will continue to have a competitive advantage over locally assembled cars, the newspaper reported.