Vietnam Truck Market Report 2019: A Boom Year

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.

The 2019 Truck Market: A Dynamic Landscape

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

Key Drivers of the 2019 Truck Market

This impressive growth was attributed to several key factors:

1. Economic Development: Vietnam’s economy maintained steady growth in 2019, driving the development of manufacturing, construction, and logistics sectors, which in turn increased transportation demands.
2. Urbanization: Rapid urbanization, particularly in major cities like Hanoi, Ho Chi Minh City, and Da Nang, fueled the need for goods transportation for construction and consumption.
3. Booming Real Estate Market: The vibrant construction activity significantly contributed to the demand for trucks.
4. Supportive Policies: The government implemented policies supporting transportation businesses, facilitating truck purchases and operations.

2019 Truck Market Structure

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?

Spirituality and Trucks: A Vietnamese Belief

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.

2019 Automotive Report: Future Outlook for the Truck Market

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.

Need assistance? Don’t hesitate to contact us:

• Phone: 0968239999
• Email: long0968239999@gmail.com
• Address: No. TT36 – CN9 Road, Tu Liem Industrial Park, Phuong Canh Ward, Nam Tu Liem District, Hanoi.

The “XE TẢI HÀ NỘI” team is always ready to serve you 24/7!