According to a newly released report from the General Statistics Office, in September, an estimated 52,582 new cars, including both domestically produced and imported vehicles, entered the Vietnamese market. This number represents a 10.5% increase compared to August (47,561 units).

Among them, the production and assembly of cars within Vietnam in September were estimated at 34,300 units, a 5.5% increase compared to August (32,500 units) and a significant 30.3% increase year-on-year from September 2023.

This marks the highest production output for 2024 so far. In total, domestic production and assembly for the first nine months of 2024 reached approximately 241,400 units, up 11.9% compared to the same period in 2023.

Alongside the growth of domestically produced vehicles, there was also significant growth in both the quantity and value of imported cars.

Specifically, in September, Vietnam imported an estimated 18,282 vehicles, valued at $378 million. Compared to August, which saw 15,061 imported vehicles valued at $299 million, September’s imports increased by 21.4% in quantity and 26.4% in value.

In total, for the first nine months of 2024, Vietnam imported 124,090 fully-assembled cars, valued at $2.566 billion. Compared to the same period in 2023, this represents a substantial 32.6% increase in quantity but only a 16.0% increase in value, indicating that the average price of imported cars has decreased.

According to the General Department of Customs, Indonesia remains the top exporter of cars to Vietnam. By the end of August, Vietnam had imported 43,810 cars from Indonesia, with a total import value exceeding $642 million.

Thailand ranks second, exporting a total of 39,101 cars to Vietnam with a total value of over $756 million.

Meanwhile, China stands third, with 19,649 cars imported into Vietnam during the first eight months, with a total value nearing $582 million.

Hoang Hiep