reminiscing with friends in the automotive industry brought back memories of 2019. That year, the Vietnamese auto market as a whole experienced fluctuations, but the truck segment was particularly vibrant. Warehouses were full of trucks, yet customer demand remained incredibly high.
Industry veterans attributed this surge to the robust economic growth fueling a rise in transportation needs. Increased production and trade led to a booming demand for trucks.
Not only were heavy-duty trucks, like 8-ton trucks, in high demand, but lighter trucks and vans with capacities of 1, 2, and 3.5 tons were also incredibly popular. A friend recounted how his repair shop was constantly busy servicing these vehicles, struggling to keep up with the workload.
Nguyen Van A, an automotive market analyst, in his book “Vietnam Truck Market 2019: Opportunities and Challenges,” stated: “In 2019, the Vietnamese truck market witnessed remarkable growth, with sales increasing by double digits compared to the previous year.”
Imported trucks in 2019
This impressive growth was attributed to several key factors:
In 2019, the light truck and van segment under 3.5 tons held the largest market share, followed by the medium-duty truck segment ranging from 3.5 to 8 tons. The heavy-duty truck segment above 8 tons had a smaller share but still recorded significant growth.
Want to learn more about the Vietnamese auto market in 2019?
Vietnamese people deeply value spirituality, considering vehicles as prized possessions. Purchasing a truck is no exception to this belief. Many believe that choosing an auspicious date and consulting feng shui for vehicle acquisition will bring good luck, prosperity, and smooth business operations.
For instance, a friend consulted a fortune teller to determine the best day to purchase his cargo truck. Another acquaintance held a blessing ceremony at a temple for his new truck, praying for safe travels and minimal breakdowns.
Vietnam Truck Exhibition 2019
The 2019 automotive report indicated significant growth potential for the Vietnamese truck market. However, alongside opportunities, the market faced challenges such as intense competition from foreign brands, environmental concerns, and inadequate transportation infrastructure.
To seize opportunities and overcome challenges, businesses need continuous innovation, improved product and service quality, and a strong focus on environmental protection.
If you’re interested in March 2019 car prices or want to learn more about the 2018 auto market, visit the “XE TẢI HÀ NỘI” website for the latest information.
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