Latest News about car market
Chinese supplies of input materials for the auto industry have been interrupted due to the Covid-19 epidemic, and may run out by the end of the month.
Ford Vietnam on January 14 announced it was investing another US$82 million (VND1.9 trillion) to upgrade its Hai Duong assembly facility and expand its annual production capacity to 40,000 vehicles.
2019 witnessed a fierce race among manufacturers and distributors to reduce prices to attract more buyers.
South East Asia will continue to be the bright spot of the Asia's vehicle sales market in 2020, led by Vietnam, according to Fitch Solutions research.
Car sales in Vietnam have been forecasted to hit the record high of 400,000 by the end of this year.
Car dealers at many firms in Vietnam are complaining about slow sales as it approaches the end of 2019.
Vietnam Supporting Industries Forum 2019 held on November 28 in Hanoi.
Some experts and government units have voiced concern over the future growth prospects of the local automobile sector due to the upsurge in car imports from foreign markets in recent months.
The Vietnamese market in the first half of 2019 has welcomed both imported and assembled new car models, including the Mitsubishi Xpander which now ranks as one of the ten best-selling cars.