Vietnam's imports of automobile completely built units rise sharply in Q1

Vietnam spent 198.78 million U.S. dollars importing some 10,417 completely built units (CBU) of automobile in the first quarter (Q1) of 2014, up 45.6 percent in value and 49.2 percent in volume year-on-year, said General Department of Vietnam Customs on Friday. In March alone, some 4,316 CBUs were shipped to Vietnam worth nearly 84.2 million U.S. dollars, up 47.4 percent in volume and 65. 2 percent in value year-on-year, said Vietnam Customs. Meanwhile, Vietnam Automobile Manufacturers' Association (VAMA) was quoted by Vietnam Industry and Trade Information Center under the ministry of industry and trade on Thursday as saying that the total automobile sales in Vietnam hit over 30,000 units in Q1, up 39 percent year-on-year. In March alone, Vietnam's domestic automobile consumption reached over 11,600 units, up 59 percent against February and up 39 percent year-on-year, said VAMA. Of the automobile sales figure in March, some 7,170 cars and 4, 477 trucks were sold, up 59 and 60 percent against the previous month respectively. This is the 12th consecutive month that Vietnam's domestic automobile sector saw growth in revenue against the previous months, assessed the association.