A Kia car seen at Truong Hai Auto’s factory in Quang Nam province. Photo credit: VnExpress
According to the General Statistics Office, Vietnam ranked fourth in Southeast Asia with 362,000 vehicles produced in the first 10 months, up 16.4% year-on-year.
According to the ASEAN Automative Federation, Thailand leads the region with around 1.6 million vehicles manufactured during this period, followed by Indonesia with 1.2 million and Malaysia with 567,700.
In recent years, many automobile factories have set up factories in Vietnam, including Toyota, Honda, Ford, Kia and Hyundai. His Vietnamese company VinFast is also expanding its business with a focus on the global electric vehicle market.
Some brands, such as Skoda (Sweden) and Chery (China), plan to assemble their cars in Vietnam through local partners in the next year or two.
Vietnam also imports vehicles from regional leaders Thailand and Indonesia.
Vietnam also ranked first with 52.2% year-on-year growth in vehicle sales in the first 10 months, followed by Malaysia with 50.7%.
In the country, 322,963 units were sold during the period, compared with 851,413 units sold in the leading country, Indonesia.