Automobile production in Vietnam has grown fastest in Southeast Asia according to statistics of the AAF. However, output is still far from the bigger players in the region such as Thailand, Malaysia, and Indonesia.

The AAF has just released automobile production and consumption figures in major markets in the region. Accordingly, Vietnam leads in the growth rate of domestically produced vehicles compared to the same period last year.

Vietnam produced a total of 20,546 cars in November, totaled 216,882 units in the first 11 months of 2022, an increase of 52.7% year-on-year – the fastest in Southeast Asia.

However, the number of cars manufactured in Vietnam is still only a small number and ranks fourth in the entire ASEAN region, whose total number of cars produced in 2022 reaching more than 4 million units. Thailand and Indonesia are still the main markets with output of 1.79 and 1.33 million cars, respectively, equivalent to a growth rate of 16.9% and 32.5% over the same period last year. In addition, Malaysia produced more than Vietnam in the same period, with 633,421 units.

Recently, the General Statistics of Vietnam announced that the number of domestically produced vehicles in 2022 reached about 439,700 units, up 14.9% compared to 2021. The number is expected to increase sharply next year when attractive car models such as Toyota Veloz Cross, Toyota Avanza Premio, Hyundai Stargazer, Hyundai Creta… have converted to assembly in Vietnam. At the same time, a series of BMW cars including 3 Series, 5 Series, X3, and X5 are also following the trend.

AAF also announced that the number of cars sold in Vietnam in the first 11 months of 2022 reached 369,334 units, an increase of 43.5% over the same period in 2021 and continued to rank 4th in Southeast Asia.

However, it should be noted that the AAF only considered data from the Vietnam Association of Automobile Manufacturers (VAMA). Non-members of Hyundai and Vinfast, if counted, adds large numbers to the overall market’s results.

Source: autopro.com.vn