Auto market to continue growing: Experts
Auto market to continue growing: Experts
The domestic auto market is expected to continue growing in the remaining months of this year, according to experts, after expanding by up to 120 per cent in October.
The Viet Nam Automobile Manufacturers’ Association (VAMA) has said that vehicle sales among its members reached 29,797 last month.
Of the total sales, 19,865 were for passenger cars, up 138 per cent month on month; 9,492 were commercial vehicles, up 94 per cent; and 404 were specialised vehicles, up 45 per cent.
In terms of origin, the sales of domestically assembled and imported cars hit 15,344 units and 14,453 units respectively, increasing 110 per cent and 132 per cent compared to September.
The association attributed the impressive rise to COVID-19 prevention and control measures rolled out by the government.
In the first 10 months of this year, the total sales among VAMA members reached 218,734 vehicles of all types, up 3 per cent from the corresponding time last year.
Experts said the January-October sales did not fully reflect the entire Vietnamese car market because brands like Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo did not disclose their figures.
Looking at the sales of automobile brands in Viet Nam last month, Hyundai secured first place. They were followed by Toyota, Kia, Ford, VinFast, Mazda and Honda.
Viet Nam, Czech Republic boost co-operation in auto manufacturing
Vietnamese Deputy Minister of Industry and Trade Do Thang Hai this week hosted a reception in Ha Noi for Ambassador of the Czech Republic Vitězslav Grepl and a delegation from Skoda Auto, a carmaker of the Czech Republic. They came together to seek partners to build an automobile factory in the northern province of Quang Ninh.
Hai said the exchange of high-level delegations in recent years has created a driving force for bilateral economic, trade and investment ties between the two countries.
He added that Viet Nam’s auto industry had grown rapidly over the past three years and welcomed Skoda Auto's plan to invest in Viet Nam. The presence of Skoda vehicles in Viet Nam would help diversify the domestic auto market.
Grepl expressed hope that auto manufacturing would become a focus of bilateral cooperation in the future.
Skoda Auto was established in 1985 in the Czech Republic and is part of Volkswagen Group.
The company planned to build an auto factory in Quang Ninh and begin exporting automobiles by 2023, said Ondrej Cerny, a representative of Skoda Auto, adding that he hoped the Vietnamese Government, ministries and agencies would offer all possible support for Skoda Auto.
Hai said Viet Nam signed 14 free trade agreements with countries in and outside the region, especially commitments related to the auto industry in ASEAN, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and the EU - Viet Nam Free Trade Agreement. Therefore, he suggested the Czech Republic side thoroughly consider Viet Nam’s international commitments as well as domestic laws to carry out investment.
As of October 2021, the Czech Republic has invested in 38 projects worth US$91.23 million, ranking 49th out of 140 countries and territories investing in Viet Nam.
