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Booming Domestic Car Manufacturing in April. Photo by: Việt Linh |
According to the latest report from the General Statistics Office, an estimated 25,700 cars rolled off the production lines of domestic car manufacturers and assemblers in Vietnam in April. This figure represents a 4.8% increase compared to the output of the previous month, making it the highest monthly production volume in the Vietnamese automobile industry so far this year.
Cumulative automobile production for the first four months of the year is estimated at 87,900 units. While this figure is still approximately 6.6% lower than the same period last year, it marks a positive turning point for the industry, with two consecutive months of growth.
| Domestic car supply continues to grow | ||||
| Production volume of domestically assembled cars from January to April 2024 (source: General Statistics Office) | ||||
| Label | January | February | March | April |
| Cars | 21,600 | 16,100 | 24,500 | 27,500 |
The Vietnamese automobile market is showing promising signs of recovery, with a series of incentives and support programs implemented by the government and car manufacturers. Recently, the Prime Minister instructed the Ministry of Finance to urgently study and propose to the government a reduction in registration fees for domestically produced and assembled cars, in an effort to stimulate consumer demand after a prolonged period of declining sales.
Interesting Reads for Your Next Drive
Our Cars section brings you a selection of captivating books to keep you engaged during those relaxing moments on your journey. Whether you’re waiting for your destination to arrive or taking a break from the road, these books will prove to be delightful companions.
VinFast: Earning Consumer Trust in India, Forbes India Reports
“VinFast, with its sound strategies and adaptability, has the potential to carve out its own niche and win the trust of Indian consumers,” Forbes India magazine commented on VinFast’s plan to establish a factory in the South Asian country.
Reducing pre-registration fees save the car market in Vietnam
The effectiveness of the upfront fee discount policy for the Vietnamese car market remains uncertain. However, it is expected to become a significant boost.
The Story of Toyota Founder – Sakichi Toyoda (2)
Sakichi Toyoda only began to think about automobile production towards the end of his life. Even then, he couldn’t have imagined that the small business he founded and built would later become the largest car manufacturing conglomerate in Japan, known as Toyota.
Strong growth in domestic car production and assembly, nearly tripling imported vehicles
According to a recent report by the General Statistics Office, domestic automobile production reached 36,900 vehicles in November, marking an 18.6% increase compared to October (31,100 units) and a 5.4% increase compared to the same period last year.
