This initiative aims to diversify the supply of imported vehicles, foster competition in the domestic market, and align Vietnam’s tax policies with the evolving trends of the automotive industry.

Domestic car production this year has reached a new high with 38,200 cars assembled in October, according to data released by the General Statistics Office (GSO) on November 6.

Import turnover of completely built-up (CBU) cars in March increased by 55.4% in volume and 41.4% in value compared to the previous month.

The Government has issued a decree regulating the examination and certification of technical safety and environmental protection for automobiles and parts imported under some international agreements to which Vietnam is a party.

Vietnamese firms spent over 903 million USD in the first quarter importing 41,780 completely-built-up (CBU) cars, according to a report by the General Statistics Office (GSO).

The 50% registration fee reduction scheme, previously proposed by the Government for cars made and assembled in Vietnam, should apply to imported vehicles as well, according to the Vehicles Importers Vietnam Association (VIVA).

Regulations on the automobile localisation ratio will be abolished on October 10, 2022 after having been in force for almost 20 years.

Auto sales stagnated in July following a surge in the sale of both locally-assembled and imported cars in June.

The European Chamber of Commerce in Vietnam (EuroCham) proposed the Government to apply a 50 percent registration fee reduction to all automotive assembly firms, importers and dealers of new vehicles.

More than 2.4 million cars manufactured since 2008 will have to meet new emission standards from early next month.

Vietnam imported 14,134 cars worth over 300 million USD in February, the General Department of Vietnam Customs reported.

Vietnam imported about 11,000 cars worth 233 million USD in October, according to estimates by the General Statistics Office (GSO).

Vietnamese businesses imported nearly 10,000 completely built cars in August, up 50 percent compared with the previous month, according to the General Department of Vietnam Customs.

A total of 23,065 automobiles were sold in the domestic market in May, up 9 percent against the previous month, reported the Vietnam Automobile Manufacturers’ Association (VAMA).

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold more than 177,000 cars in the first eight months of the year, down 6 percent from the same time last year.

The quantity and value of imported cars fell by 38 percent and 6 percent respectively in April from March.

A multi-sector working team will be set up to evaluate the domestic automobile market in correlation with global regulations and Vietnam’s free trade agreements.

The domestic auto industry will need several supporting measures including technical barriers to “create differences” between locally-made and imported cars, officials and industry insiders agree.

Vietnam’s car import turnover in December 2016 increased in both quantity and value, making the year’s total annual car imports finish at 2.3 billion USD, according to the General Statistics Office.