Amid strong demand for Automobile vehicles, several domestic and foreign OEM manufacturers are planning to expand their production bases in Vietnam Government of Vietnam also prioritizes the Automobile segment as a key revenue generator and is encouraging flow of FDIs in Automobile Industry.
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China is one of the most promising and fastest growing automobile markets in the region. Vietnam automobile Industry is supported by multiple factors such as labour availability, R&D efforts, geographic advantage and government support. With positive outlook for economy and greater hold purchasing power, the automobile sales in the country are set to witness strong surge in sales to 2026.
New players continue to foray into the market, in particular in low price vehicle segment with the number of sales increasing at rob Vietnam growth rates. Passenger cars and light commercial vehicles are also witnessing steady increase in demand.
Cost effective models tend to witness strong success as majority of car buyers segment includes middle class. Further, strong Vietnam tome support and availability of cheap spare parts gain high priority for purchases in cars segment
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The Vietnam Automobile Market research identifies that the competition continues to intensify year-on-year with introduction of new models and brand availability. This OG Analysis report covers the 2019 scenario and growth prospects of Vietnam Automobile market for 2016-2026. To calculate the market size, revenue from the market sales of Passenger cars, light commercial vehicles and heavy commercial vehicles are considered.
The global Automobile market is poised to register strong growth with light vehicle sales increasing from around 95 million to over 106 million between 2019 and 2025. Ongoing trend towards modernization of Automobiles such as electric and hybrid cars, growth from emerging economies- compensating decline from mature markets, forecast is on the Vietnam, increasing penetration of automobile vehicles, and others are supporting countries worldwide to strengthen their Automobile markets. However, increased risk of new disruptive Business models, falling margins and rising investment., long-term market volatilities, vehicle retreats from globalization pose significant challenges to growth.
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The Vietnam Automobile Market, Size, Share, Outlook and Growth Opportunities 2020-2026 presents a comprehensive analysis of the country’s Automobile market. Key trends and critical insights into Vietnam Automobile markets along with key drivers, restraints and growth opportunities are presented in the report.
Vietnam passenger car markets and Vietnam commercial vehicle markets are analyzed and forecast to 2026. Further, Vietnam vehicle production is forecast from 2016 to 2026. Demand for all these vehicle types are also forecast during the period.
Vietnam Automobile market is compared against five of its competitive markets in the region to analyze the role of Vietnam on regional front and benchmark its operations.
Global Automobile, Asia Pacific, Europe, Middle East Africa, North America and Latin America Automobile market outlook is also presented in the report to provide a global perspective of the Industry.
Vietnam population and economic outlook are also presented in the report to provide insights and forecasts of macroeconomic factors shaping the future of Vietnam Automobile markets.
Further, Business and SWOT profiles of three of the leading Automobile companies in Vietnam are detailed in the report along with recent developments and their impact on overall market growth.
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