Vietnam’s 2017 Auto Market: A Look Back and Bold Predictions

The saying “in business, connections are key” has always held true, especially in the dynamic world of auto sales. The 2017 auto market was indeed a memorable year filled with fluctuations that kept everyone on the edge of their seats. So, what exactly happened in the automotive market that year? Let’s journey back in time with XE TẢI HÀ NỘI to explore the unforgettable milestones and make some bold predictions for the future!

Undercurrents in the 2017 Auto Market

Fluctuations in the 2017 auto market

2017 witnessed fierce competition among major players in the automotive industry, from domestic manufacturers to international brands. According to Le Van Minh, author of “Secrets of the Vietnamese Auto Market,” 2017 marked the rise of the compact family car segment, with affordable prices and increasingly attractive designs.

Furthermore, the reduction of import taxes on cars from ASEAN countries further invigorated the market. Consumers were spoiled for choice, able to select high-quality vehicles at reasonable prices.

Import Tax Reduction – A Refreshing Rain for the Market

Like a refreshing downpour on a scorching summer day, the reduction of import taxes on cars from ASEAN breathed new life into the Vietnamese auto market in 2017.

Many people likened owning an imported car at this time to “turning over one’s hand.” Vehicles from Thailand, Indonesia, and other countries, with their modern designs and advanced technologies, quickly captured the hearts of consumers.

However, the influx of affordable imported cars also raised concerns about quality and the potential demise of domestic automakers.

Bold Predictions – Looking Towards the Future of the Auto Market

Future electric car

Nguyen Thi Lan, an auto market analyst at the Hanoi Institute for Economic Research, stated: “The Vietnamese auto market in the future will witness the rise of electric and self-driving cars.”

Indeed, with the rapid advancement of technology, the dominance of electric and self-driving vehicles is only a matter of time. Is the vision of autonomous cars navigating the bustling streets of Hanoi, such as Cau Giay, Hai Ba Trung, and Hoan Kiem, still far off?

Opportunities for Domestic Automakers

Amidst the competitive storm, domestic automakers need to innovate, improve product quality, and enhance after-sales services to maintain their brand presence.

Some suggest that domestic manufacturers should focus on the affordable car segment, catering to the essential needs of the population. Others argue for significant investment in technology and the development of “made in Vietnam” electric vehicles to assert their position in the international market.

Conclusion

The 2017 auto market concluded with many unforgettable moments. Despite the challenges, with its immense potential and adaptability, the Vietnamese auto market promises continued strong growth in the future.

Are you struggling to choose a car? Check out XE TẢI HÀ NỘI’s Nha Trang self-drive car rental service or car rental service in Nha Trang for a fantastic test drive experience before making your final decision!

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