The average income per capita in Việt Nam will reach about US$3,000 in 2020 and the demand of cars will boom shortly thereafter, according to the Ministry of Industry and Trade (MoIT)'s forecast.
Car sales in September plummeted, the Vietnam Automobile Manufacturers’ Association (VAMA) said on Tuesday.
Many car manufacturers in Việt Nam continue to apply discounts and promotions to stimulate purchasing.
Some 8,000 complete built-up units of cars worth US$180 million were imported to Việt Nam in August, marking a slight increase of 1,000 units in volume and $13 million in value compared with the previous month.
Vietnamese automakers and importers have been racing to reduce the price of many models in recent months ahead of the zero-tariff policy for car imports from ASEAN nations that goes into effect on January 1, 2018.
The 13th Việt Nam Motor Show has opened in HCM City. Showcasing their latest products are 12 renowned auto brands as well as leaders in transportation, components, technology, and related services.
The local consumption of automobiles in June 2017 was 24,365 units, up 5 per cent in comparison to May, according to a report by the Vietnam Automobiles Manufacturers’ Association (VAMA).
Da Nang’s Dong A College has enrolled students for the first ever course on automobile technology and automation engineering in the central region.
Việt Nam imported 19,000 cars in the first quarter of this year, a year-on-year increase of 169 per cent in volume and 82 per cent in value, according to a report from the General Statistics Office (GSO).
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold more than 17,600 cars in February, down 13 per cent from the previous month.