Despite incentives for domestic cars, imported cars are still flooding into Vietnam.

According to statistics recently announced by the General Department of Customs, in September 2024, the country imported 18,405 complete cars of all kinds, with a total turnover of nearly 378 million USD, an increase of 22.2% in quantity and 26.4% in value compared to the previous month. Compared to September 2023, this figure has increased sharply by 148% in quantity (7,430 units) and 118% in value (173.68 million USD).

In the first 9 months of the year, the total number of completely built-up cars imported to Vietnam reached 124,983 units with a total turnover of approximately 2.57 billion USD; an increase of 32.7% in volume and 16% in turnover over the same period in 2023.

Regarding the origin of imports in the first 9 months of the year, Indonesia, Thailand and China are still the 3 countries with the largest number of cars, accounting for more than 96% of the country's imported cars.

Of which, Indonesia leads in quantity with 50,890 vehicles, total turnover reaching nearly 746 million USD. Thailand ranks second in quantity with 47,580 vehicles, but still leads in total turnover reaching nearly 923 million USD. China ranks third in both quantity and turnover with results of 21,948 vehicles and 653.4 million USD respectively.

According to experts, the number of imported cars to Vietnam in September increased because this is a "pivotal" month to prepare supply to serve the market in the peak months at the end of the year. Although in the three months of September, October and November, domestically assembled cars are reduced by 50% of registration fees according to the Government's support policy, imported cars are still receiving separate support from importers.