VIETNAM’S CAR IMPORTS SURGE AS THAILAND, INDONESIA-BASED MANUFACTURING FINALLY COPES WITH RED TAPE – INDICATING MAJOR POTENTIAL AS FUTURE MARKET
October 1st, 2019
A sharp increase in imports of cars into Vietnam has underlined how this south-east Asian country of 96 million people, could become a major auto market, especially as Vietnamese drivers move from motorcycles to cars.
At present, the motorcycle is king in Vietnam. The Vietnam Association of Motorcycle Manufacturers said 3.4 million motorcycles were sold there in 2018 alone. But with economic growth of 6.6% and 6.5% projected for 2019 and 2020 according to World Bank figures, increasing gross national income per capita from today’s USD2,400, market researchers ...
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