return icon

Thai autos flooding Vietnamese market

CBU (complete built unit) imports from Thailand account for more than 50 percent of total car imports and turnover in the first eight months of the year, according to the General Department of Customs (GDC).

GDC reported that by the end of August, Vietnam had spent $2.136 billion, or VND50 trillion to import 95,929 cars of different kinds, of which imports from Thailand accounted for 50 percent. At least 56,792 products were imported from the country, worth $1.1 billion.



In August 2019 alone, 4,266 cars were from Thailand, out of 9,412 cars imported.

Vietnam is becoming a big car import market of Thailand. If this continues, the total import value from Thailand will be $1.5 billion with 80,000 cars to be imported in 2019.

The average import price of imports from Thailand is $19,369, or VND450 million, which doesn’t include taxes and fees. However, car dealers predicted that the import price would decrease to below VND400 million because the Thai market is getting saturated. As car output is increasing rapidly, the Thai government is applying policies to encourage exports.

Car dealers predicted that the import price would decrease to below VND400 million because the Thai market is getting saturated. As car output is increasing rapidly, the Thai government is applying policies to encourage exports.

According to the Federation of Thai Industries, the automobile industry will produce 2.15 million cars this year, of which 1.05 million cars will be sold domestically and the remaining exported. Meanwhile, Thai exports to Europe are facing problems, so the exports will mostly target the Asian market.

Vietnam is a market with great potential in Southeast Asia, expected to have 1 million products a year after 2025. Vietnam is near Thailand in geographical position, while the tariff barrier has been removed.

Analysts say that Thailand has a developed automobile industry, called the Detroit in Asia, with high localization ratio. Thai product quality meets international standards and the autos can be exported to the US, EU and Australia. In Vietnamese thoughts, Thai cars are better than Indonesian.

With big output and competitive price, Thai products will be a threat to Vietnamese ones.

According to Le Ngoc Duc, general director of TC Motor, if Thailand turns on the green light, automobile manufacturers will slash the price of car exports to Vietnam for a certain period. If so, Vietnamese automobile manufacturers will face problems.

Truong Hai Automobile has spent VND450 million to increase Kia factory’s capacity from 20,000 to 50,000 products a year. The manufacturer now has a Mazda factory (50,000 products a year) a Kia factory (50,000) and a Peugeot factory (20,000).

TC Motor has a sedan assembling factory, with 50,000 products a year. The biggest manufacturer is Vingroup, which is running Vinfast factory, with the capacity of 250,000 products in the first phase of operation.

Tran Thuy

HCM City automobile registration fee doubles

HCM City automobile registration fee doubles

HCMC has approved a plan to raise registration fees for new automobiles and motorbikes to the highest level, with the fee for under-nine-seat cars being raised to VND20 million from VND11 million.

Vietnam's auto industry needs more than money

Vietnam's auto industry needs more than money

The Ministry of Industry and Trade is expected to submit to the Government an automobile industry development plan with solutions to supporting auto manufacturing projects in Vietnam.  


Share prices fall, billionaires lose big

Billionaire Tran Dinh Long’s assets have fallen by $1.6 billion this year, while billionaire Pham Nhat Vuong has lost $2 billion.

Video game helps promote Vietnamese culture, tourism

The video game “Lac Viet phieu luu ky” (Lac Viet Adventures) was selected by the Ministry of Foreign Affairs as a promotional product on digital platforms at the Vietnam Days Abroad 2022 in Austria, India, and the Republic of Korea this year.

Over 100 Vietnamese citizens deported from China for illegal stay

106 Vietnamese citizens that stayed illegally in China were returned to Vietnamese authorities at the Ly Van Border Gate in the northern province of Cao Bang on Tuesday.

"578 Magnum" film chosen to compete at 2023 Oscars

The head of the Vietnam Cinema Department, Vi Kien Thanh, said the “578: Phat Dan Cua Ke Dien” (578 Magnum) film received a score of 9, the highest from the national selection board, and was chosen to represent Vietnam at Oscars 2023.

HCM City to recruit key officers through exams

The city’s Vice Chair Vo Van Hoan has signed a decision on organizing exams to select leaders and managerial officers for local public agencies.

HAGL Group repays bonds worth trillions of VND

The Hoang Anh Gia Lai Group (HAG) of entrepreneur Doan Nguyen Duc eased its debt burden of VND6.6 trillion in bonds prior to Decree 65’s issuance.

70-year-old publishing industry tries to catch up with rest of the world

Tran Chi Dat, Director and Editor-in-Chief of the Information and Communications Publishing House, says that e-books and other modern publishing models are now giving more choices to readers in accessing content.

Vietnam's first monkeypox patient tests negative, symptoms disappearing: hospital

The patient, a 35-year-old woman who return from Dubai, is no longer suffering from fever, while the blisters on the face, hands and feet have dried up, peeled off and new skin is forming, said the doctors treating her.

Largest-ever Vietnamese rock concert to hit stage in HCM City

Leading rock bands and singers from across the country are set to perform in the World Rock Vietnam concert which will get underway on December 10 in Ho Chi Minh City.

Vietnam to impose temporary anti-dumping duties on Chinese tables, chairs

Vietnam will impose temporary anti-dumping duties on some table and chair products originating from China, the Vietnamese Ministry of Industry and Trade has said.

More former officials arrested over repatriation flights bribery scandal

Three more people, including two former diplomatic officials, have been arrested for their involvement in a bribery case at the Ministry of Foreign Affairs' Consular Department.

Vietnam to send two football teams to AFF Club Championship 2023

Vietnam will send two clubs to the ASEAN Football Federation (AFF) Club Championship 2023, according to the Vietnam Football Federation (VFF).

ST24, ST25 rice trademarks protected in Australia

Australian Intellectual Property (IP Australia) has officially issued trademark protection certificates to three brands of ST24 and ST24 rice produced by Ho Quang Tri Private Enterprise.

Retail stocks with positive outlook

Retail stocks, in general, are expected to produce positive business results this year, especially in the third quarter.

Artificial Intelligence applied to weather forecasting in Vietnam

The Vietnam Meteorological and Hydrological Administration has applied Artificial Intelligence (AI) in hydrometeorology monitoring and forecasting, making typhoon and torrential rain prediction more accurate.