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Saturday, January 5, 2008

Vietnam vehicle imports

Peoples Daily Online

Vietnam spent 523 million U.S. dollars importing 28,000 completely-built automobiles, mostly cars, in 2007, posting the biggest-ever import turnovers and a year-on-year surge of 145.5 percent, according to the country's General Statistics Office on Friday.

Vietnam imported 28,000 automobiles last year, up 123 percent. It also spent 921 million dollars importing automobile components and parts for assembly.

Lower automobile tariffs were mainly attributed to the expected bigger vehicle imports. Vietnam slashed import tax on cars to 60 percent in October 2007 from 70 percent in August 2007 and 80 percent earlier.

Besides, Vietnam has an increasing number of wealthy persons, mostly business people, who can afford cars, including expensive ones branded Rolls-Royce Phantom, Bentley Continental Flying Spur and Lamborghini Gallardo SE.

Vietnam with a population of 86 million currently has some 1.1 million private-owned cars, according to the latest statistics from the country's Transport Ministry.



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