Vietnam’s automobile industry is small compared to regional markets and local suppliers are asking for more support from the Government.
Vietnamese automobile producers are speeding up localisation in a bid to offer cheaper cars.
The automobile industry is one of the world’s most important economic sectors by revenue. In Vietnam in particular, the industry dated from 1955 after the liberation of North Vietnam. Between 1955 and 1975, the nation mainly manufactured auto parts, meeting the demand on maintenance and repairs.
New policies promoting development of the domestic automobile sector will create opportunities for the industrial real estate market, according to a CBRE Vietnam report released in December.
Coach Park Hang-seo of the Vietnam national football team on December 16 announced he will donate the US$100,000 he was rewarded for charity activities in the host country.
The Ministry of Finance has promised to study and report to the Government recommendations by the Vietnam Association of Mechanical Industry (VAMI) on policies to promote domestic automobile production.
Imported CBU (completely built unit) cars are expected to flood Vietnam, as domestic automobile manufacturers prepare to launch new models.
Truong Hai Auto JSC (Thaco) inaugurated Thaco Mazda automobile manufacturing plant, the biggest and most modern Mazda factory in Southeast Asia, in the central province of Quang Nam on March 25 in the presence of Prime Minister Nguyen Xuan Phuc.
The Truong Hai Auto Corporation (Thaco) on February 21 launched its agricultural machine factory in Chu Lai open economic zone in the central province of Quang Nam.
Vietnamese enterprises made hefty investments in automobile manufacturing projects in 2017, with the aim of becoming an automobile production center in SE Asia.
VOV.VN - After nearly a year, the Chu Lai port expansion project of the Chu Lai Open Economic Zone in Quang Nam has been completed. The port has expanded the zone’s logistics service chains to make it a key logistics hub in the central region.
Taking every opportunity to reduce prices, Truong Hai and Toyota, the two big automobile manufacturers, are trying to capture every corner of the market.
Dairy giant Vinamilk stays on top with double the brand value of its nearest rival Viettel.
As many as 23,232 cars were sold in May, up 6 percent from the previous month, according to the Vietnam Automobile Manufacturers’ Association on June 7.
Thanh Cong and Truong Hai are determined to export cars, despite a cut in import tariffs on cars scheduled to take effect in 2018.
The inauguration of Cua Dai Bridge and the coastal route running from Duy Xuyen to Tam Ky in March last year brings many opportunities for businesses to invest in the central province of Quang Nam, and in Chu Lai Open Economic Zone in particular.
As tariff decreases, Vietnam is importing more cars. Toyota Motor Thailand (TMT)'s car export to Vietnam rose by 15% last year, despite a 15% drop in its total car export, the company said in a recent press conference.
The total number of automobiles sold in 2016 reached 304,427 units, the highest level recorded by Vietnam’s auto market in the past 20 years, the Vietnam Automobiles Manufacturers Association (VAMA) announced on January 11.
As the 2018 deadline to remove tariffs on completely built cars imported from the ASEAN bloc looms, domestic auto manufacturers are banking on the possibility that the government will have some measures to control imports of completely built cars.
Truong Hai Auto Corporation (Thaco) plans to inject more than VND2.1 trillion (US$94.5 million) into a project to produce buses with European emission standards for both domestic use and export to other markets in ASEAN.