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The latest report from the General Statistics Office reveals an estimated domestic automobile production of 34,300 units in September, marking a 5.3% increase from the previous month’s report.
This signifies a continuous growth in Vietnam’s domestic automobile output since May, with September setting a new record high.
Back in February, domestic automobile production experienced a slowdown, with only 16,100 units rolling off assembly lines. This period coincided with the Tet holiday, typically considered a low point in the Vietnamese automobile market.
According to cumulative data from the General Statistics Office, domestic automobile production from the beginning of the year is estimated to reach approximately 241,400 units, reflecting an 11.9% year-on-year growth.
| Domestic Automobile Production Reaches New Heights | ||||||||||
| Domestic Automobile Assembly Output for the First Nine Months (Data: General Statistics Office) | ||||||||||
| Label | January | February | March | April | May | June | July | August | September (Estimated) | |
| cars | 21,600 | 16,100 | 24,800 | 27,300 | 27,000 | 28,000 | 29,700 | 32,500 | 34,300 |
September also marked the beginning of the fourth round of registration fee incentives for domestically assembled vehicles in Vietnam, which will last for three months until November 30. According to sales consultants from various automobile brands with assembly operations in Vietnam, there has been an immediate improvement in customer demand during this promotional period.
In addition to domestic brands like VinFast and assembled brands such as Toyota, Ford, Hyundai, Honda, Kia, Mazda, Peugeot, Mitsubishi, Mercedes-Benz, and BMW, several automobile brands have planned to assemble their vehicles in Vietnam, including Geely, Lynk & Co, Jaecoo, and Omoda.
Apart from assembled cars, the estimated number of imported automobiles in September was 18,282 units, with a value of approximately $378 million, according to the General Statistics Office. Cumulatively, from the beginning of the year, the total number of imported automobiles is estimated to reach 124,909 units, with a value of nearly $2.6 billion.
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Many new automobile brands opt for importation during their initial stages of entering the Vietnamese market. Photo: GAC Aion. |
According to the General Department of Customs, Indonesia remains the largest exporter of automobiles to Vietnam. As of the end of August, the number of vehicles imported from Indonesia reached 43,810 units, with a total value of over $642 million.
Thailand ranked second, with a total of 39,101 vehicles exported to Vietnam, valued at over $756 million. The number of vehicles originating from China and imported into Vietnam during the first eight months reached 19,649 units, with a total value of approximately $582 million.
Currently, the sales of imported automobiles in Vietnam exceed those of domestically assembled vehicles. According to the Vietnam Automobile Manufacturers’ Association (VAMA), in the first eight months, Vietnamese consumers purchased 94,141 domestically assembled vehicles and 94,856 imported ones.
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