Industry experts believe that with increased consumer demand and support policies from automakers, the domestic automobile market is forecast to further thrive in the second and third quarters of this year.
Auto sales by members of the Vietnam Automobile Manufacturers’ Association (VAMA) reached 36,585 units in September, a 45% increase over the previous month, following the implementation of a 50% reduction in registration fees for domestically manufactured and assembled vehicles.
The Vietnam Motor Show (VMS) is roaring back into Ho Chi Minh City this October, showcasing the latest advancements and offerings in the country's automotive and motorcycle industry.
The Vietnamese automobile market witnessed a significant sales decline in the first month of 2024, yet businesses and experts forecast that the market may see a breakthrough in the second half of the year.
Vietnam spent 2.65 billion USD on importing 111,278 cars in the first 11 months of this year, down 26.6% in volume and 22% in value annually, reported the General Department of Vietnam Customs.
November was the second consecutive month that the auto market went sideways, reported the Vietnam Automobile Manufacturers’ Association (VAMA) on December 12.
After sales grew 13% in September, the car market in Vietnam was stagnant in October even when producers offered discounts and promotions to stimulate demand.
Despite poor results in the first quarter of 2023, auto stocks are still expected to perform well on supportive policies, including interest rate cuts and a 50% reduction in automobile registration fees.
The Vietnam Automobile Manufacturers’ Association (VAMA) has announced that its members sold 25,159 vehicles in June, down 42% from May ending three consecutive months of gains.
The Vietnam Automobile Manufacturers’ Association (VAMA) said on July 13 that its members sold 25,159 vehicles in June, down 42% from the previous month.
Automaker VinFast announced its plan to open more than 50 stores in Europe at the 35th International Electric Vehicle Symposium and Exhibition (EVS35) in Norway on June 14.
Deputy Prime Minister Le Van Thanh has asked the Ministry of Industry and Trade to study policies to promote the development of the domestic automobile industry, in line with the growing global trend towards electric cars.
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) will roll out various new models meeting the Euro 5 emissions standard, according to the association.
The Vietnam Automobile Manufacturers’ Association (VAMA) has announced that the total market sales of its member units reached 38,656 vehicles last month, a month-on-month increase of 30 percent, and a year-on-year increase of 6 percent.
All types of new cars in Vietnam must meet Euro 5 emission standards from January 1, 2022 under a decision issued by the Prime Minister, Vietnam Register said.
The domestic auto market is expected to grow further in the remaining months of this year after expanding up to 120 percent in October, experts have said.
