Driving Vietnam: Is Vietnam’s Passenger Vehicle Market Shifting Gears?
Growth in Vietnam’s passenger vehicle market is currently the fastest in Southeast Asia, with sales reaching ~225,000 units by 2020. Vietnam’s increasing population and a rising middle class with disposable income are driving demand for passenger vehicles as consumers begin to move away from a traditional reliance on two-wheel transportation. Additionally, the impact of trade deals will drive further opportunities, where tariffs on passenger vehicle imports among ASEAN-member countries will be reduced from 50% in 2015 to 0% in 2018. However, main barriers consisting of high tariffs and fees are hindering the industry to flourish. Meanwhile, local manufacturing remains limited with a shallow supply base, resulting in a reliance of imports. Can Vietnam overcome the challenges to further the development of the automotive market? Download the white paper to learn more.
This white paper aims to address these main questions :
- 01. What are the implications for Vietnam's transition from two wheels to four wheels?
- 02. Is Vietnam becoming ASEAN's most attractive passenger vehicle market?
- 03. How can Vietnam's cities accommodate the rapid growth in passenger vehicles?