The spread of the COVID-19 pandemic in almost all countries and territories worldwide is likely to force automobile manufacturing and assembly firms in Vietnam to scale down operations and even close their factories.

The US-based General Motors (GM) has stated it will stop selling Chevrolets this year and shut down its factory in Thailand from which Chevrolets are exported to Vietnam.

Vietnam’s automobile industry is small compared to regional markets and local suppliers are asking for more support from the Government.

VietNamNet Bridge - Though continuing investment in their production bases, foreign-invested automobile manufacturers in Vietnam are placing high expectations on car imports.

VietNamNet Bridge - Automobile enterprises still cannot decide which business path to follow, either to continue assembling cars in Vietnam or importing cars for domestic sale.

 VietNamNet Bridge – At least two leading automobile manufacturers in the world have decided to cancel their development projects in Vietnam because of the weak supporting industries in the country.

 VietNamNet Bridge – After Truong Hai Automobile got the permission to delay the payment of the VND1.2 trillion worth of import tax, a lot of other manufacturers have sent letters to the Prime Ministers asking for the same favor.

Despite a series of policies laid down recently to help ease difficulties, automobile joint ventures still demanded sharper tax and fee reductions. In reply, the Ministry of Finance said they should not expect to see all the claims to be satisfied.