automobile industry

Update news automobile industry

Steel manufacturers respond to criticism about underdeveloped supporting industries

Large steel manufacturers admit that in order to manufacture screws for automobile wheels, they have had to import steel. But they say they can make this kind of steel.

Automobile market expands, but VN manufacturers still at disadvantage

The Vietnam Automobile Manufacturers’ Association (VAMA) reported that in January-November 2022, its members sold 369,334 products, 43 percent up year-on-year.

Dreams of a local automobile industry turn realistic

In late November, a vessel carrying 999 Vietnamese electronic vehicles manufactured by VinFast left Vietnam, starting the journey from Dinh Vu Seaport in Hai Phong to the US.

New awareness of national enterprises

Resolution 29-NQ/TW outlining the path that leads the country to a powerful and prosperous future in the near future once again affirms the role of national enterprises.

Vietnam's auto market nears 500,000 threshold

As of October, 415,000 cars had been sold in Vietnam in 2022, near the 500,000-car  target.

Indonesia rises to become largest supplier of cars to Vietnam

Indonesia overtook Thailand as it grew to become the largest auto supplier to the Vietnamese market in September, according to data given by the General Department of Vietnam Customs.

VN automobile market recovers well

While the prices of some car models, including imports, have been slashed in the year-end sale season, other models are selling at higher prices because of a supply shortage.

Dim outlook for domestic auto component industry

Vietnamese automotive component industry has a dim outlook for growth as it lags behind those in many other regional countries, according to the Ministry of Industry and Trade (MoIT).

How can Vietnam renovate industry?

“Vietnamese are proud of their intelligence. But why can’t we renovate industry to improve competitiveness?” entrepreneur Mai Huu Tin said. He hopes that one day, Vietnamese businesses will take over large automobile manufacturers of the world.

Automakers prefer imported over locally-manufactured cars

The appearance of foreign automobile assembly plants has rekindled hopes about the development of the local automobile industry. But statistics show that automakers prefer importing cars to Vietnam.

Ministry of Finance proposes delaying auto localization rule abolition

There will be regulatory gaps when the automobile localization ratio regulations are abolished on October 1, 2022, the Ministry of Finance (MOF) said, proposing delaying the abolition to have time to adjust.

AI successfully applied in automotive industry in Vietnam

Artificial Intelligence (AI) has been widely implemented in various fields, including the automotive industry.

Locally-made cars requiring new approach

Vietnam’s ambitions for its automobile supporting industry are facing upheaval with the country’s localisation ratio about to be scrapped.

Vietnam boosts FDI attraction in automotive industry

Vietnam will move to attract large enterprises and corporations with high technology, said Nguyen Anh Tuan, deputy director of the Ministry of Planning and Investment's Foreign Investment Agency.

Automobile sale strongly rebounds in 7 months

Automobile sales in Vietnam posted a month-on-month increase of 20% and a year-on-year surge of 88% in July, the Vietnam Automobile Manufacturers’ Association (VAMA) reported on August 11.

VinFast signs 4-billion-USD deals with Credit Suisse, Citigroup for EV factory in US

Automaker VinFast on July 13 announced that it has signed agreements with Credit Suisse (Singapore) Ltd and Citigroup Global Markets Inc. to raise at least 4 billion USD to develop an electric vehicle factory in North Carolina, the US.

Most Vietnamese need about 12 years of savings to buy a car

With the average income per capita of VND4.25 million a month in 2020, Vietnamese people would have to save money for 12 years to buy a car worth VND600 million (US$30,000).

Luxury-tax hike should be postponed until after 2024

Discussing the luxury tax law, experts said it is necessary to design a reasonable taxation roadmap and begin raising the tax only after 2024.

Which localities have the lowest number of car buyers?

Nine provinces have the lowest number of car buyers in the country, with fewer than 1,000 cars bought in each area.

Vietnamese car buyers wait for deliveries amid shortage of car parts

The car part shortage crisis in the world has affected the Vietnamese market as car buyers have been told to wait for deliveries.