The information related to automobile industry of Vietnam

Author Hai Nam Vu
Co-Author Dao Nam Cao
DOI

Country : Vietnam
Subject : Transport

Keywords : automobile industry, cost, automobile manufacturing

Abstract

Currently, Vietnam has about 3 million cars equivalent to only 20 cars / 1 thousand people, the rate is very small. For the 90 million population market, there are many great market opportunities for the automotive industry to develop. Although in the short term, Vietnam is still a small market with negligible number of vehicles, technology is not high but hopefully in the coming years it will have a leap on the basis of new development. The Vietnamese automobile industry has grown quite rapidly in the last few years. The average growth rate of domestic assembled cars in the period 2015-2018 reached 10%. (In 2015, the production and assembly of domestic cars reached over 200,000 vehicles/year, the rate of increase compared to 2014 reached 51%. In 2016, the output continued to increase sharply, reaching over 283.3 thousand vehicles/year, up 38% compared to 2015. In 2017, production and assembly output reached 258.7 thousand vehicles, down 9% compared to 2016, 2508 cars in 2018, about 3% lower than 2017). By the end of 2018, the whole country had 358 manufacturing enterprises related to automobiles; in which, there are 50 automobile assembling enterprises; 45 enterprises producing chassis, body and trunk; 214 enterprises manufacturing components and auto parts ... There are many big companies that have domestic production and assembly activities (Toyota, Hyundai, Kia, Mazda, Honda, GM, Chevrolet, Ford, Mitsubishi, Nissan, Suzuki, Isuzu, Mercedes-Benz, Hino) meet about 70% of demand for cars under 9 seats in the country.

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