Viet Nam imported 109,000 cars in the first nine months of 2019, a year-on-year increase of 167.8 per cent, reported the General Department of Viet Nam Customs.
Automobile stocks are expected to lure more investment thanks to the growth of market consumption, forecast to reach over 500,000 vehicles per year from 2021.
Viet Nam’s automobile market witnessed a year-on-year increase of 365.6 per cent to 88,000 cars in the first seven months of this year, worth US$1.94 billion, reports the General Department of Customs.
US auto maker, Ford Vietnam, has recently announced to gain a growth of 91 per cent in sale in the second quarter of this year, reaching 7,960 vehicles.
Many businesses strongly reduced price of cars by between tens of millions dong to more than hundred million dong for their clients to stimulate sales, however, the market still witnessed a sluggish consumption, not as expected.
VinFast will introduce its first Lux SUV model at the Geneva Motor Show 2019 in Switzerland, one of the most exciting displays of auto engineering and design in the world, from March 7-17.
Viet Nam imported nearly 11,700 cars worth more than US$273 million in the first month of this year, marking the fifth consecutive month with a volume of at least 10,000 units, according to statistics from the General Department of Customs.