Domestic car production peaks, ensures abundant supply
Domestic car production this year has reached a new high with 38,200 cars assembled in October, according to data released by the General Statistics Office (GSO) on November 6.
A car manufacturing plant in Vinh Phuc province. — VNA/VNS Photo
Hanoi (VNS/VNA) - Domestic car production this year has reached a new high with 38,200 cars assembled in October, according to data released by the General Statistics Office (GSO) on November 6.
The figure is 5.8% higher than September, when 36,100 cars were produced and 22.8% higher than October 2023.
In total, for the first ten months of the year, about 281,400 cars were produced and assembled in Vietnam, up 12.1% compared to the same period in 2023.
According to GSO, around 56,301 new cars, both domestically produced and imported, were added to the Vietnamese market in October. This figure increased slightly by 3.3% compared to September.
The number of imported cars was 18,101, down 1.65% compared to September. They generated a turnover value of 374 million USD, slightly lower than the 378 million USD earned last month.
However, the volume of imported cars in October this year was a sharp increase of 88.3% compared to October 2023, generating 46.7% more value.
The total number of imported cars in the first ten months of 2024 was estimated at 143,084 units, with a value of 2.94 billion USD. Compared to the same period in 2023, this number increased sharply by 37.8% in volume and 19.1% in value.
According to market experts, it is understandable that domestic manufacturers increased production in October, since they need to create abundant inventory for the market towards the end of the year.
In addition, there is an ongoing Government preferential po🎶licy that reduces by half the registration fee when buying domestically produced cars until the end of November./.
Hyundai Thanh Cong Vietnam, a joint venture between Vietnam’s TC Group and the Republic of Korea’s Hyundai Motor, on October 29 exported the fourth batch of Hyundai Palisade cars to Thailand, raising the total number shipped to the country to 110.
Honda Motor announced on July 9 that it will cease vehicle production at its Ayutthaya factory in Thailand by 2025 to focus on consolidating operations at the Prachin Buri plant, also in the Southeast Asian country.
Automaker VinFast, a subsidiary of conglomerate Vingroup, has announced it delivered more than 9,300 cars to customers in September, securing the leading position in the Vietnamese automobile market in the month.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
