Figures from the General Department of Vietnam Customs show that 118,942 vehicles worth $2.83 billion were imported into Vietnam in 2023, down 31.5 per cent and 26.3 per cent, respectively, year-on-year.

Imports in December alone stood at 7,650, worth $175.3 million, up 1.9 per cent in volume and down 9.1 per cent in value compared to November.

Thailand led in terms of import source, with 53,942 vehicles and turnover of $1.14 billion, accounting for 45.35 per cent of volume and 40.46 per cent of value, followed by Indonesia with 42,676 vehicles and $607.55 million, or 35.88 per cent and 21.47 per cent, and China with 11,002 vehicles and $394.2 million, or 9.25 per cent and 13.93 per cent.