• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

VietNam Breaking News

Update latest news from Vietnam

  • Home
  • About Us
  • Contact Us
  • Disclaimers
  • DMCA
  • Privacy Policy
  • Submit your story
  • Show Search
Hide Search

You are here: Home / Domestic automobile industry set for good growth

Domestic automobile industry set for good growth

· February 28, 2019 ·

The Vietnamese automobile industry is expected to grow well, driven mainly by an increase in per capita income, demand for cars, and infrastructure improvement. Speaking at a seminar on auto industry, held during the Automechanika HCM City expo, Nguyen Thanh Dam, chairman of Vast Group JSC, said that production reached 215,000 autos last year, which was modest compared to other countries in the region. This accounted for just 0.2 per cent of the number of vehicles produced globally. More than 352,200 units were bought in Viet Nam last year, ranking fourth in the ASEAN region after Indonesia (1.1 million units), Thailand (950,000 units), and Malaysia (560,000). The average number of cars per 1,000 people in Viet Nam was still low (at 23 cars per 1,000 people) compared to other countries, Dam said. With an increase in income, a “golden demographic” with the number of people having good earnings now accounting for 52 per cent of the population, demand for cars among young families and car consumption is expected to increase strongly. “There will be fierce competition among large automobile companies this year,” he said, adding that carmakers would launch many new models to expand their market share. The automobile market… Read full this story

  • Is India's automotive industry ready for an EV makeover?
  • Full text of Finance Minister Piyush Goyal's 2019 Budget speech
  • Carbon imperialism | Emissions in emerging markets reaching tipping point
  • We have taken bets off politically sensitive sectors, bullish on 3 themes: S Krishna Kumar, Sundaram MF
  • Winter Session UPDATES: Constitution (126th Amendment) Bill 2019 passed in Rajya Sabha
  • This startup can convert any fuel-powered scooter to an electric scooter
  • President's address to the Parliament
  • Media, insurance top FPI picks in FY20; will the trend continue?
Domestic automobile industry set for good growth have 289 words, post on bizhub.vn at February 28, 2019. This is cached page on VietNam Breaking News. If you want remove this page, please contact us.

Filed Under: Wheels Vietnamese automobile industry, demand for cars, Automechanika HCM City expo, Wheels, post independence growth experience of industry, gambling industry growth, career growth bpo industry, dark souls 2 llewellyn set good, games industry market growth, raw materials used in automobile industry, supplements good for muscle growth, which conditioner is good for hair growth, mcneil industries good will hunting, subsidizing fuel efficient cars evidence from china's automobile industry, how much economic growth is good, which shampoo is good for hair growth, hemp industry growth, undaunted bastion set any good, sluggish domestic growth, explain how reforms have helped china's rapid industrial growth, define domestic goods, highest growth industries, green growth industries, job growth industries, growth industries inc, top ten growth industries, low growth industries, houseware industry size and growth, oligopoly automobile industry, oligopoly in automobile industry, industry growth cycle

Primary Sidebar

RSS Recent Stories

  • 3.6 trillion VND to be invested in Tay Ninh port cluster
  • Hanoi launches socio-economic development tasks for 2021
  • Over 870.000 households to access electricity in 2021-2025
  • Vietnam to become first country to produce vaccine for ASF
  • Increased liquidity helps VN-Index approach 1,200 points

Sponsored Links

Copyright © 2021 VietNam Breaking News. Power by Wordpress.