Vietnam’s Automotive Industry: Driving onto the Global Stage

“Driving a truck full of dreams,” a common saying of Mr. Ba – the owner of a transport company in Long Bien District, Hanoi – reflects the vibrant picture of Vietnam’s automotive industry today. From heavy trucks rolling on dirt roads to sleek passenger cars cruising on highways, the domestic automotive industry is gradually asserting its position in the international arena.

Accelerating on the Global Track

Starting later than other countries in the region, Vietnam’s automotive industry has made rapid progress, attracting the attention of many global giants.

From Assembly to Production

While the Vietnamese automobile market was previously dominated by foreign car manufacturers assembling vehicles domestically, many Vietnamese enterprises have now boldly invested in production, creating “made in Vietnam” cars with increasingly recognized quality.

Prime examples include the emergence of names like VinFast with its global ambitions, and THACO, Vietnam’s leading automotive corporation with a diverse manufacturing and business ecosystem.

A Dynamic Market with Great Potential

Statistics show that car sales in Vietnam have continuously increased in recent years, demonstrating the huge development potential of this market. The growing demand for vehicles, along with the improvement in people’s income, are driving forces behind the development of the automotive industry.

However, besides the advantages, the Vietnamese automotive industry also faces many challenges:

• Fierce Competition: The Vietnamese automobile market is witnessing fierce competition from world-renowned car brands.
• Production Technology: Mastering production technology, especially in the field of electric vehicles, remains a difficult problem.
• Supporting Industries: The lack of domestic component supply chains makes businesses heavily reliant on imports.

Overcoming Challenges, Seizing Opportunities

For the Vietnamese automotive industry to truly “take off,” there needs to be joint efforts from the entire political system, businesses, and consumers.

The government needs to continue to improve policies, create a favorable investment and business environment, and encourage the development of supporting industries. Businesses need to proactively invest in technological innovation, enhance their competitiveness, and move towards green and sustainable production. Consumers should prioritize using high-quality Vietnamese goods, contributing to building Vietnamese automobile brands.

Feng Shui for Trucks – Driving Towards Luck

Mr. Nam, a long-time truck driver in Gia Lam District, Hanoi, shared: “Choosing a car is like choosing a wife; it must be compatible with feng shui to be lucky and prosperous.” According to folk beliefs, the color and license plate of a vehicle affect the owner’s fortune and destiny. For example, people with the Metal element should choose white or silver cars; those with the Wood element are compatible with green cars…

However, feng shui expert Nguyen Van A (hypothetical) said that the most important factor is still “a relaxed mind and safe driving.”

Frequently Asked Questions about the Vietnamese Automotive Industry

1. How much does the Vietnamese automotive industry contribute to GDP?

According to data from the General Statistics Office, the automotive industry contributes about 4% of Vietnam’s GDP.

2. Which car brands are leading the Vietnamese automobile market?

The Vietnamese automobile market is currently dominated by car brands such as Toyota, Hyundai, Kia, Honda, and Mazda.

3. Where to buy reputable trucks in Hanoi?

You can refer to reputable truck dealers in Hanoi such as Giai Phong Auto, Long Bien Auto, My Dinh Auto…