2016 Vietnam auto market: Deluge of new models

16:23 | 01/12/2016 Society Follow Ven.vn on

(VEN) - While the year’s biggest shopping season is nearing and the two largest motor shows in 2016 will take place very soon - later October, the domestic automobile market has welcomed so many new models, both domestically assembled and imported, and is expected to continue booming this year.

2016 Vietnam auto market: Deluge of new models

The automotive market is expected to continue booming in 2016

Sales expected to break a record

According to the Vietnam Automobile Manufacturers’ Association (VAMA), automobile sales hit 23,540 vehicles in August, 4,500 vehicles less than July but 29 percent higher than the same time in 2015; in the first eight months of this year, automobile sales amounted to almost 188,000 vehicles, up 32 percent from the same period last year. Of this, sales of tourist vehicles increased 30 percent, those of commercial vehicles soared 33 percent, and sales of automobiles for special use were up 46 percent.

Automobiles of around 30 brands, with prices ranging from several hundred million to tens of billions of dong, are available in Vietnam. With a record of 245,000 vehicles sold in 2015, up 55 percent compared to 2014, Vietnam’s automobile market is expected to maintain a steady rise in 2016.

VAMA Chairman and Toyota Vietnam General Director Yoshihisa Maruta gave modest forecast of 10 percent growth for auto sales this year, reaching 260,000 vehicles. But, with the current rise and the coming shopping season, the Vietnamese automobile market is expected to boom again this year with sales likely reaching 282,000 vehicles, far exceeding the forecast.

Many new models coming into sight

The expectation is feasible, as since early September, carmakers have made many more new automobile models come into sight in Vietnam. Toyota Vietnam introduced its Vios 2016 and Yaris 2016 in two consecutive days in mid-September. Shortly after that, Lexus Vietnam brought in Lexus GS Tubor 2016 (imported in the whole form from Japan), while Nissan Vietnam launched the Nissan X-Trail.

The Vietnam International Motor Show 2016 will take place in October in Hanoi and Ho Chi Minh City, introducing more than 100 new models of 12 brands, including sport utility vehicle (SUV) Chevrolet Trax with 1.4L Turbo engine, high-end SUV Ford Explorer 2017, special versions of Civic, City Modulo, CR-V models and high-end imported models - Accord 2016 and Odyssey (Honda), Isuzu’s SUV Mu-X, Kia Optima, and Mitsubishi Motors Vietnam’s SUV Pajero Sport, among others.

The show will also introduce more than 150 imported models of 18 automakers, including Volkswagen Sharan 2016 and Volkswagen Beetle 2016. Audi Vietnam said that it would introduce 12 models in the show, notable one of which is the Audi R8 Coupe V10 featuring the perfect Audi Quattro technology.

Vietnam ranked second in Southeast Asia in terms of automobile sales growth, after Singapore. The domestic automotive market in 2016 is forecast to increase 30 percent over 2015.

Linh Nguyen

See more news

Vietnam seeks ways to ease global minimum tax effects

14:00 | 17/05/2023 Society

(VEN) - A global minimum tax is unavoidable, but Vietnam needs coping strategies to minimize its negative effects and retain its attractive investment environment.

Caged fish farming in hydro-power reservoirs helps people earn stable incomes

07:00 | 15/05/2023 Society

Many households in Thanh Hóa Province’s mountainous districts have successfully developed caged fish farming on hydroelectric reservoirs.

Investment of $304.3 million proposed to upgrade Mekong Delta roads

07:00 | 13/05/2023 Society

The Ministry of Transport has proposed projects to upgrade and improve three national highways, 53, 62 and 91B, in Cửu Long (Mekong Delta) provinces.

Government helps HCMC overcome obstacles

06:00 | 11/05/2023 Province

(VEN) - Prime Minister Pham Minh Chinh met on April 16 with heads of the Ho Chi Minh City (HCMC) Party Committee to discuss the obstacles to local socioeconomic development. The Minister of Industry and Trade proposed focusing on e-commerce and the night-time economy to drive the city’s further growth.

Hung Yen creates momentum to improve investment environment

07:00 | 09/05/2023 Province

The northern province of Hung Yen has taken drastic actions to improve its business and investment environment, and its efforts have paid off.

HCM City unlocks resources for development

07:00 | 07/05/2023 Province

The year 2023 is considered a pivotal year to drive growth of Ho Chi Minh City for upcoming years under its economic recovery and development strategy for 2022-2025, after achieving impressive recovery last year.

Hanoi GRDP up 5.8 percent in Q1

06:00 | 06/05/2023 Metropolis

(VEN) - Hanoi's Gross Regional Domestic Product (GRDP) rose by 5.8 percent in the first quarter of 2023 compared to the same period in 2022. While this growth rate is lower than the 5.91 percent achieved the same period of in 2021, it is nevertheless impressive given the global economic downturn and decline in global trade.

Việt Nam makes efforts to crack down on IUU fishing

07:00 | 05/05/2023 Society

After three inspections, the European Commission (EC) said Việt Nam has made improvements in the process of removing illegal, unreported, and unregulated (IUU) fishing.

Industrial parks reach 80 percent occupancy

06:00 | 05/05/2023 Society

(VEN) - There are currently over 290 industrial parks (IPs) in the country that have been put into operation. So far, the occupancy rate of the IPs nationwide has reached about 80 percent.

President Ho Chi Minh Mausoleum welcomes over 52,000 visitors during three holiday days

08:59 | 03/05/2023 Society

Around 52,250 visitors, including 2,900 foreigners, came to pay tribute to President Ho Chi Minh, the great leader of Vietnam, at his mausoleum in Hanoi during three holiday days from April 29 to May 1.

Latest Most Read

Nine Vietnamese universities listed in THE Impact Rankings 2023

10:05 | 07/06/2023 Infographic

Nine Vietnamese universities have been listed in the THE Impact Rankings 2023 released by the Times Higher Education (THE).

Vietnamese authorities move to facilitate farm produce exports to China

09:22 | 07/06/2023 Foreign trade

A Vietnamese delegation led by Deputy Minister of Agriculture and Rural Development Tran Thanh Nam has visited and held meetings with the administrations and customs departments of China’s Guangxi and Yunnan provinces in an effort to facilitate farm produce exports via northern border gates of Vietnam.

Ambassador calls for more investment from Japan’s Tochigi prefecture

09:07 | 07/06/2023 FDI

An investment promotion seminar was held in Tochigi prefecture of Japan on June 5 under the chair of Vietnamese Ambassador to Japan Pham Quang Hieu and Tochigi Deputy Governor Suenaga Hiroyuki.

Vietnam, China exchange market management experience

08:58 | 07/06/2023 Domestic market

Deputy Minister of Industry and Trade Dang Hoang An held talks with deputy head of the Chinese State Administration for Market Supervision (SAMR) Pu Chun in Hanoi on June 5, during which they exchanged information and experience regarding market management.

Vietnam promotes green, circular economy

06:00 | 07/06/2023 Economy

(VEN) - The results of a survey conducted by the Central Institute for Economic Management show that from 36 to 48.6 percent of Vietnamese companies have applied circular business models.

Hanoi association hailed for helping with development of local SMEs

14:46 | 23/05/2023 Metropolis

Vice Chairman of the Hanoi People’s Committee Nguyen Manh Quyen has appreciated contributions by the Hanoi Association of Small- and Medium-sized Enterprises (SMEs) to the development of local businesses.

Strategic investors’ engagement helps promote Việt Nam’s tourism growth

06:00 | 24/05/2023 Tourism

The investment of domestic and foreign investors in tourism infrastructure, especially resort real estates, poor rural areas have been turned into enchanted destinations for tourists, making Việt Nam more attractive to investors.

Vietnam ranks high in digitalisation research

06:00 | 23/05/2023 Science - Technology

Companies in Vietnam ranked higher than the global average in taking a strategic, consistent or radical approach to digitalising customer experience and engagement, said Singapore-based financial services group DBS.

Vietnamese, Russian scientists conduct joint survey on marine resources

06:00 | 25/05/2023 Science - Technology

Russian research vessel Akademik Oparin has arrived at Nha Trang port in the central province of Khanh Hoa to conduct a joint survey on marine resources as part of the "Roadmap for cooperation in marine research for the 2018-2025 period" between the Vietnam Academy of Science and Technology (VAST) and the Russian Academy of Sciences (RAS).

Positioning Vietnam’s Green National Brand

06:00 | 26/05/2023 Vietnamese Brands

(VEN) - The panel discussion of “Positioning Vietnam’s Green National Brand” held in the framework of the Vietnam National Brand Week and the Vietnam Branding Forum 2023 drew a lot of discussion among speakers.

Multimedia

Video Longform Infographic Photo

Nine Vietnamese universities listed in THE Impact Rankings 2023

10:05 | 07/06/2023 Infographic

Nine Vietnamese universities have been listed in the THE Impact Rankings 2023 released by the Times Higher Education (THE).

Sunset Town – A journey to love on Vietnam's Phu Quoc Island

14:06 | 06/06/2023 Tourism

Looking for a dreamy vacation spot this summer? Located on the southern side of Phu Quoc Island in Vietnam, Sunset Town is an enchanting coastal town that has been capturing the hearts of global travelers.

Children's artwork displayed at HCM City exhibition

06:00 | 04/06/2023 Lifestyle

The exhibition is the result of the art contest We In Me 2023 launched by the Vietnam Contemporary Visual Arts Academy (VCVAA) – an institution founded by international artist and educator Thanh Bùi to nurture young Vietnamese artistic talents.

a memorable summer with fireworks and fun festivals in da nang

A memorable summer with fireworks and fun festivals in Đà Nẵng

09:41 | 02/06/2023 Tourism

The vibrant summer days in the coastal city of Đà Nẵng will begin with the return of DIFF 2023.

Top models to compete in national modeling reality TV show

09:30 | 02/06/2023 Lifestyle

Around 20 male and female models will compete for the title of the modeling-themed reality TV series Face Vietnam 2023.

Policy

Viet Nam-Laos agreement on mutual judicial assistance in civil matters ratified

15:41 | 06/06/2023 Policy

President Vo Van Thuong has signed a decision approving the Viet Nam-Laos agreement on mutual judicial assistance in civil matters.

PM issues directive to enhance data sharing for e-commerce development

09:06 | 02/06/2023 Policy

Prime Minister Pham Minh Chinh on May 31 signed Directive No. 18/CT-TTg on promoting data connection and sharing for e-commerce development, preventing tax loss, and ensuring monetary security.

Deputy PM urges acceleration of electricity licensing for finished wind, solar power projects

10:06 | 25/05/2023 Policy

Deputy Prime Minister Tran Hong Ha has requested the Ministry of Industry and Trade to accelerate the process of issuing electricity licenses for wind and solar power projects that have been completed but have not yet been put into operation.

Specific mechanisms, policies needed to drive HCM City’s growth

06:02 | 20/05/2023 Policy

Ho Chi Minh City needs to be supported by specific mechanisms and policies that are strong enough to remove bottlenecks faced by the city and enable it to create breakthrough developments, experts said.

Industry & Trade

More assistance for supporting industry

06:00 | 06/06/2023 Support industries

(VEN) - According to economic experts, the development of the supporting industry needs the Government’s support through a set of cohesive and stable policies that facilitate sustainable business growth.

Cement industry suffers financial losses during Q1

09:54 | 02/06/2023 Industry

Decreased demand and increased costs have put cement makers in a difficult spot financially during the first quarter of 2023, said industry insiders and experts.

Việt Nam has major opportunities to engage in global Halal industry Deputy minister

06:00 | 31/05/2023 Industry

Deputy Minister of Foreign Affairs Phạm Quang Hiệu speaks to the media about strengthening international cooperation to develop the Halal industry in Việt Nam.

Cut on automobile registration fees to facilitate auto industry

14:33 | 30/05/2023 Industry

The Ministry of Industry and Trade supporting the reduction of automobile registration fees is considered a positive effect to the auto industry in the context of the automobile market facing many difficulties.

Investment

Ambassador calls for more investment from Japan’s Tochigi prefecture

09:07 | 07/06/2023 FDI

An investment promotion seminar was held in Tochigi prefecture of Japan on June 5 under the chair of Vietnamese Ambassador to Japan Pham Quang Hieu and Tochigi Deputy Governor Suenaga Hiroyuki.

Vietnam – attractive destination for Italian firms: forum

13:00 | 04/06/2023 FDI

Raffaele Cattaneo, deputy minister in charge of international relations of Italy’s Lombardia region, called Vietnam a “diamond” of Asia and an attractive destination for Lombardia enterprises while speaking at a recent business and investment forum in Milan.

FDI enterprises urge investment environment improvement

06:00 | 01/06/2023 FDI

(VEN) - At an April-22 in-person meeting between Prime Minister Pham Minh Chinh and foreign investors, business and association representatives suggested that Vietnam further improve its investment environment.

Vietnam's five-month FDI rises sharply nationwide

13:03 | 29/05/2023 FDI

The total inflows of foreign investment in Vietnam this year to May 20, including new and added investment and contributions for share purchases by foreign investors, reached nearly 10.86 billion USD, down 7.3% year-on-year, but up 10.6 percentage points as compared with the figure in the first four months of this year, the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported.

Finance-Banking

SBV Governor explains high lending rates, credit room management

09:50 | 05/06/2023 Finance-Banking

Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong provided explanations regarding the high lending rates and credit room management during a plenary session of the 15th National Assembly’s ongoing fifth meeting in Hanoi on June 1.

Important: Multi-target monetary policies needed

06:00 | 02/06/2023 Finance-Banking

(VEN) - According to Deputy Governor of the State Bank of Vietnam (SBV) Pham Thanh Ha, the SBV’s monetary policy management has never been as difficult as it is now due to the global economic changes, while the bank must not make any mistakes upon policy issuance and application.

Dozens of commercial banks cut savings interest rates

09:31 | 30/05/2023 Finance-Banking

Dozens of commercial banks have simultaneously decided to reduce deposit interest rates from May 25, after the State Bank's decision to cut policy interest rates.

Central bank continues to reduce policy interest rates

06:12 | 27/05/2023 Finance-Banking

The State Bank of Vietnam (SBV) has announced two decisions to further reduce policy interest rates, which will become effective from May 25, 2023.

Environment

HCM City promotes digital transformation in waste management

15:14 | 06/06/2023 Environment

HCM City is making efforts to promote digital transformation in the collection, treatment and management of the huge volume of domestic solid waste discharged daily.

PM urges stronger wildfire prevention measures amid strong heatwaves

06:00 | 28/05/2023 Environment

Prime Minister Phạm Minh Chính has urged stepping up wildfire prevention measures as heatwaves are scorching many localities nationwide, increasing the risk of wildfires.

Vietnam targets development of green, plastic waste-free tourism

06:00 | 28/05/2023 Environment

Vietnam is considered one of the largest contributors to marine plastic pollution globally, with the volume of plastic waste discharged into the sea ranging from 0.28 to 0.73 million tonnes a year, of which a big part comes from tourism activities.

Đồng Nai afforestation programme kicks off

06:00 | 27/05/2023 Environment

NGO Gaia Nature Conservation Center on Monday kicked off its annual afforestation programme at the Đồng Nai Culture and Nature Reserve to mark International Day for Biological Diversity.

Science - Technology

Police warn against illegal forex trading platforms

06:00 | 06/06/2023 Science - Technology

Hanoi police have warned people against illegal foreign exchange trading platforms on the internet which have swindled many out of their money.

Over 77,000 computers in Vietnam suffer data encryption in 7 months Bkav

06:00 | 04/06/2023 Science - Technology

More than 77,000 computers in Vietnam have suffered data encryption since December 2022, according to Bkav – a leading Vietnamese technology corporation that specialises in cyber security and software.

Vigorous changes in science and technology

06:00 | 03/06/2023 Science - Technology

(VEN) - In the context of deepening international integration, the industry and trade sector has undergone positive changes in scientific research and technology development.

Internet speeds up as four of five undersea cables repaired

08:56 | 02/06/2023 Science - Technology

Four out of the five international undersea cables that were damaged last year and early this year have been repaired, the Department of Telecommunications under the Ministry of Information and Communications announced on June 1.

Society

Vietnamese, Bulgarian news agencies ink cooperation pact

15:32 | 06/06/2023 Society

Hanoi: Agricultural development policies lack real-world effectiveness

06:00 | 04/06/2023 Metropolis

(VEN) - Hanoi's agricultural policy implementation has been sluggish, yielding limited results that fail to align with the city's potential and strengths.

New Zealand provides 40 full micro-credentials scholarships for Vietnamese learners

16:23 | 26/05/2023 Society

Mong Cai city imports electricity from China’s Dongxing

10:37 | 25/05/2023 Energy

Vietnamese Brands

• Tripadvisor highlights the sole hotel in Da Nang in the prestigious Travelers' Choice Best of the Best award

09:30 | 28/05/2023 Vietnamese Brands

Millions of travelers from around the world have voted Premier Village Danang Resort - a masterpiece by Sun Group on the shores of the East Sea - as one of the top 10 family-friendly hotels in Asia 2023 on Tripadvisor.

Pfizer Vietnam, VNVC sign MoU to protect public health

09:00 | 26/05/2023 Vietnamese Brands

Pfizer (Vietnam) Limited Company and Vietnam Vaccine Joint Stock Company (VNVC) on Wednesday (May 24) signed a memorandum of understanding (MoU) to partner on protecting public health by increasing the rate of proactive prevention of dangerous infections in the period of 2023-25.

Vietjet offers 50% discount on SkyBoss Business tickets

08:55 | 26/05/2023 Vietnamese Brands

These discounted tickets (excluding taxes and fees) are available at www.vietjetair.com and Vietjet Air mobile app from now until June 30, 2023.

Positioning Vietnam’s Green National Brand

06:00 | 26/05/2023 Vietnamese Brands

Culture

Children's artwork displayed at HCM City exhibition

06:00 | 04/06/2023 Lifestyle

Top models to compete in national modeling reality TV show

09:30 | 02/06/2023 Lifestyle

Around 20 male and female models will compete for the title of the modeling-themed reality TV series Face Vietnam 2023.

International festival provides platform to young musicians

06:00 | 30/05/2023 Lifestyle

Monsoon' festival, one of the most anticipated music events in Việt Nam, will be held in Hà Nội from October 14 to 22. The festival founder and director, Quốc Trung, discusses the festival's return after a three-year hiatus.

Bát Tràng ancient pottery exhibited at Việt Nam National Museum of History

06:00 | 28/05/2023 Lifestyle

A unique collection of Bát Tràng pottery artefacts dating from the 14th to the 20th century are being introduced to the public at the Việt Nam National Museum of History.

Tourism

Vice-Chairman of Da Nang City People's Committee “DIFF is a push to fuel tourism”

15:06 | 06/06/2023 Tourism

“After three years, the Da Nang International Fireworks Festival - DIFF has just come back. This is a great effort of our city. Moreover, the support of businesses also plays an important role in helping Da Nang to implement DIFF 2023,” shared Ms. Ngo Thi Kim Yen, Vice-Chairman of Da Nang City People’s Committee about DIFF 2023.

Sunset Town – A journey to love on Vietnam

2016 Vietnam auto market: Deluge of new models

See also

See more news

Multimedia