Vietnam can only enter a new stage of auto development in 2021 – 2022

At the press conference for the 15^th anniversary of VAMA’s establishment held in Hanoi on July 30^th, Mr. Yoshihisa Maruta, Chairman of VAMA stated that Vietnam can only enter a new stage of auto development in 2021 – 2022 and only in which can the country develop its own auto industry.

Also according to Mr. Maruta, the main cause of the country’s underdeveloped auto industry is due to its too small market scale. However, when asked about how “big” is enough, Mr. Maruta said that we could hardly conceive an accurate number because it depends not only on the total sales of the market but also on the sales of each vehicle. The reasons above were also the obstacles that obstructed VAMA’s commitment to localize as it has agreed with the government.

At the press conference, VAMA members also expressed their views that they wanted to develop and produced their products in Vietnam and wished to have a favorable and stable policy for them to do so. If those conditions are met, they will certainly meet the requirements set by the governemnt.

When being asked on can car price be reduced in the future, VAMA stated that each car sold in Vietnam currently has to “suffer” a lot of taxes and fees such as import duty, special sales tax, VAT, registration fee… as well as many other factors so they could hardly tell if car price can be reduced.

VAMA was founded in 2000 with 11 original members. Its production and sales in the first year reached 14.000 units, which now has become 130.000 annually. Taking only the first half of 2015 into account, sales of VAMA members have reached 91.711 units, achieving a 67% year-on-year growth (including both imported and locally assembled units).9 among the 10 best-selling models in Vietnam in 2015’s first half were locally assembled ones.

VAMA has contributed 44.000 billion VND (2 billion USD) to the state budget in 2014 alone. The organization’s target in 2015 is to raise its total production and sales in the year to over 130.000 units. From 2010 up to now, 1.155.000 assembled units of VAMA members have been sold. With number of cars locally assembled only increased throughout the years, VAMA has now met nearly 80% of demand for passenger car and 60% of demand for commercial vehicle in Vietnam market…

For the last 15 years, VAMA has provided Vietnam market 1.155.000 vehicles with over 70% produced and assembled by its members; contributed 44.000 billion to the state budget each year; created 100.000 jobs each year and annually organized auto show for customers to have access to the latest vehicles or technologies produced by VAMA.

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