Despite the sharp fall, the market maintained positive growth during the first two months. According to VAMA, total market sales by the end of February reached 46,153 units, up 39 per cent compared with the same period last year.
Việt Nam’s automobile market is entering a remarkable transition marked by tightened environmental policies and a rapid shift towards electrification, according to a report by auto research platform oto.com.vn released early this week.
According to the General Statistics Office, the total car supply, including both locally produced and imported, totalled roughly 500,000 as of September.
The government has asked Hà Nội to study increasing various fees on fossil-fuel vehicles, including registration tax, licence plate fees and parking charges.
Industry analysts believe that the sweeping price cuts and demand-stimulus measures introduced earlier this month are critical steps to revitalise Việt Nam’s auto market following a prolonged period of sluggish sales.
The Vietnamese auto industry has demonstrated significant progress in integrating into the global supply chain, reflecting its potential to contribute to economic growth, according to domestic car experts.
The domestic automobile industry is undergoing a significant transformation as it increasingly integrates into global markets and attracts foreign investment, according to automobile experts.
VinFast Auto has officially signed an exclusive dealership agreement with Al Mana Holding W.L.L. for the distribution of VinFast electric vehicles (EV) across Qatar.
VinFast Auto has officially announced the pricing and opened reservations for the VF 5 electric SUV in the Philippines, just over a month after debuting the brand in the market.