Sunday, November 27, 2016

Vietnam spends USD1.9 billion importing CBU autos

Vietnam imported more than 86,800 CBU (Completely Build-up) autos in the first ten months of the year, valued at USD1.9 billion, down 1,100 units in volume and USD400 million in value from a year earlier, reported the General Department of Customs.
Photo for illustration
Photo for illustration
Specifically, in October, markets witnessing growth in the number of CBUautos exported to Vietnam were Thailand (up 200 autos), Russia (100), India (550) and the Republic of Korea (760).
Meanwhile, reductions in the number were seen in some markets, including China (25 autos), Germany (120) and the US (more than 50).
The total volume handled by eight main auto exporters to Vietnam in the ten months decreased more than 11,200 units against the same period last year.
According to the General Department of Customs, among the eight markets, China, India and the Republic of Korea saw sharp decreases in volume with 21,000 units in the ten months. Meanwhile, the remaining five markets Thailand, Russia, Japan, Germany and the US had an increase of 9,200 units.
Experts said the application of special consumption tax rates from July 1st was the main reason leading to the reduction. Accordingly, the rate on cars with cylinder capacity of 2.0L decreased from 5% to 15%, while those with cylinder capacity above 2.5-6.0L increased 15-60%./.


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