Vietnam's car imports show increasing

Vietnam’s car imports show increasing

Vietnam's Ministry of Industry disclosed that the country's number of imported cars rose 12 percent year on year to 10'175 units in the first six months of the year. The Ministry indicates that total imported cars are expected to reach 22'000 units this year. The rapid growth of imported cars should be seen as an alarming sign for the domestic auto industry. The auto imports retain its strong momentum, despite high 100 percent tax level. The Ministry believes that the auto imports will continue to expand in the coming years because of the country's commitment to reduce taxes as part of the AFTA.