Cars from Southeast Asia dominating imports

Vietnam’s auto imports have been substantially influenced by the ASEAN Trade in Goods Agreement (ATIGA). Since import taxes on completely built-up (CBU) vehicles were cut to zero from January 1, 2018 under the agreement, vehicles from Southeast Asia have continuously grown in terms of market share. In the first half of this year, Vietnam imported 79,353 CBU vehicles worth $1.73 billion. Those originating from Southeast Asian countries (mainly Thailand and Indonesia) dominated in terms of volume, accounting for 80 per cent.