VNA reported that Vietnam automobile and motorbike imports decreased by 24% YoY in the first half of June 2010 after experiencing a surge last month.

Statistics released from the General Customs Department showed that in the first half of June 2010, 2,180 vehicles were imported, down by 7% YoY. Import turnover decreased by 3% YoY. However, the department said the figures were 30% and 60% higher than numbers from March and April with respects to turnover.

General Customs Department forecasted that vehicle imports would increase during the second half of this month, which would fluctuate between 4,500 and 5,000 units. This probable amount of imported units would be a strong decrease when compared to the record amount of units that were imported last month. The total amount of automobiles imported during the first 6 months of 2010 would likely reach 23,000 units, which is similar to the amount of imported units from the same period last year.

The Ministry of Industry & Trade said that Vietnam's automobile imports would earn USD 12 billion by 2020. Currently, the ministry is expecting to have 50 autos per every 1,000 people. The ministry has asked the Government to reduce value added tax by 50% for buses and environmentally friendly cars in order to develop the products.

(Sourced from Vietnam News Agency)