Vietnam to Import US$900 Mln Worth of Car Parts, up 128 per cent Next Year -Ministry
Vietnam automobile businesses are forecast to import US$900 million worth of car parts next year, up 128 per cent on year, local Vietnam Economic Times cited the Ministry of Trade and Industry.
The ministry forecast local companies will import US$700 million this year, up from US$505 million in 2006, or 138 per cent, on year increase.
There has been no official explanation for the six month straight sharp increase in the imported car parts.
However, according to senior market experts, the races among local car assemblers and importers will be very dramatic in the near future and customers may have more choices.
In the first ten months of this year, 17 members of Vietnam Automobile Manufacturers Association reportedly sold 58,320 units, up 88 per cent on year, the 15th straight month of increase.
The country is forecast to consume 1.27 million cars by 2010 and 3.06 million by 2020, said the Ministry of Foreign Affair on its official Web site. (Vietnam Economic Times, VAMA Releases)
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