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Vietnam Automobile Comprehensive Report Q2/2018

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VIETNAM AUTOMOBILE INDUSTRY

The global automobile market in 2017 continued to grow with the total produced cars of 97.3 million units, an increase of 2.45% over 2016. The world's automobile production workshops are still located in three traditional areas with the earliest automobile industry which are North America, Western Europe and East Asia.

Global automobile consumption in 2017 reached xx.x million units, up 3.1% compared to 2016. Global automobile export in 2017 continued to sharply decline and plunged the most since 2012, when the total export value of automobile market was only USD xxx.xx billion.

The automobile industry in Vietnam today is largely stopped at simple assembly. The average localization rate is around 10%. Almost all of domestic components are in the form of simple technology with low value and mainly used for trucks and passenger cars. The newly promulgated Decree 116/2017/ND-CP on Production, Assembly and Trading of Automobiles is expected to create new opportunities in the development of production activities of automobile companies right in Vietnam instead of yielding to imported cars.

In the first three months of 2018, automobile production and assembly in the country reached xx.xx thousand units, a slight increase of 7.81% compared to the same period of 2017. According to Vietnam Automobile Manufacturers Association (VAMA), in the first three months of 2018, total revenue of automobile market was xx,xxx thousand units (including passenger cars, trucks, passenger cars/buses and some other vehicles), down 2% over the same period of 2017. The market share has high concentration rate: in 2016, 2017 and Q1/2018, over 70% consumption market share of VAMA was held by Truong Hai, Toyota and Ford. In the first three months of 2018, Truong Hai has remained the largest market-share enterprise with 42.7% total car consumption in the automobile market.

According to VIRAC estimates, the car ownership per 1,000 people in Vietnam in 2016 (31 cars) is still low compared to other countries in the region as well as in the world. According to the General Department of Customs, in the first three months of 2018, the country imported x,xxx cars in complete units, the total import value was only USD xxx.x million. Compared to the same period of 2017, import of automobile market in the first 3 months of 2018 decreased by 84% in volume and 75.8% in value.

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Table Of Content

Scope

Abbreviation

Executive summary

1. Business environment

1.1 Macroeconomics

1.2 Legal barrier

1.3 Impact of free trade agreements

2. Industry overview

2.1 World automobile market

2.1.1 Spare parts

2.1.2 Production

2.1.3 Consumption

2.1.4 Import-export

2.1.5 Top typical countries

2.1.6 Top typical brands

2.2 Vietnam automobile market

2.2.1 Scale and characteristics

2.2.2 Industry value chain

2.2.3 Industry position

2.2.4 Spare parts

2.2.5 Production

2.2.6 Consumption

2.2.7 Import

2.2.8 Automobile prices

2.2.9 Distribution system

3. Risks and Challenges

4. Driving forces

5. Planning and forecast

6. Enterprises

List of figures and tables

List of figures:

Figure 1: GDP growth by Quarters, 2015-Q1/2018

Figure 2: Monthly CPI fluctuations, 2015-3/2018

Figure 3: GDP per capita, 2013-2017

Figure 4: Lending interest rate and mobilizing interest rate, 2012-2017

Figure 5: VND/USD exchange rate, 2013-3/2018

Figure 6: Level of urbanization, 2010-2017

Figure 7: Disposable income and household expenditures, 2008-2017f

Figure 8: Import of world car components, 2010-2017e

Figure 9: Production of cars in the world, 2010-2017

Figure 10: Structure of world production by vehicle, 2017

Figure 11: Production structure by region, 2016-2017

Figure 12: Top 10 World's best-selling cars , 2017

Figure 13: World car consumption by type, 2010-2017

Figure 14: Consumption of car in the world, 2013-2017

Figure 15: Car consumption of ASEAN Automotive Federation members (AAF), 2017

Figure 16: The number of vehicles used in the world, 2010-2015e

Figure 17: Structure of vehicle usage by area, 2015

Figure 18: Exporting cars in the world, 2010-2017e

Figure 19: Structure of automobile exports by country, 2017e

Figure 20: Import structure of cars by country, 2017e

Figure 21: Top 10 leading producers in the world, 2016

Figure 22: Top ten world's most-priced cars published by Brand Finance, 2017

Figure 23: Number of businesses, 2010-2016

Figure 24: Number of employees, 2010-2016

Figure 25: Turnover of automobile manufacturing and assembly, 2010-2016

Figure 26: Turnover of automobile wholesaling and retailing, 2010-2016

Figure 27: Vehicle consumption structure by business, Q1/2018

Figure 28: Import of car accessories, 2010-Q1/2018

Figure 29: Localization rate of some countries in the region, 2016e

Figure 30: Import of auomobile spare parts by countries, Q1/2016-Q1/2018

Figure 31: Import structure of automobile spare parts, Q1/2018

Figure 32: Production and assembly of automobiles in Vietnam, 2010-2017

Figure 33: Production output of THACO, 2010-2016

Figure 34: Production, assembly structure by vehicle type, 2010-Q1/2018

Figure 35: Traffic panorama of Vietnam, 2016

Figure 36: General automobile consumption in Vietnam, 2006-Q1/2018

Figure 37: Consumption of cars by vehicle type, 1/2016-3/2018

Figure 38: Consumption output by car origin, 2016-3/2018

Figure 39: Trends in automobile industry development in some Southeast Asian countries, 2011-2016

Figure 40: Number of cars owned per 1,000 people, 2016e

Figure 41: Number of cars per 100 households by urban and rural areas, 2004-2016e

Figure 42: Top 10 best selling cars Q1/2018

Figure 43: Consumption structure of VAMA members by region , Q1/2016-Q1/2018

Figure 44: Consumption vehicles of VAMA members by region, Q1/2018

Figure 45: Vehicle consumption structure by business, Q1/2017

Figure 46: Vehicle consumption structure by business, Q1/2018

Figure 47: Import of automobiles in complete units, 2011-Q1/2018

Figure 48: Importing cars by country,Q1/2016-Q1/2018

Figure 49: Automobile prices comparing Vietnam with other countries, 6/2017

Figure 50: Price of vehicle according to the cost structure of the consumer must bear

Figure 51: Price movements of some major vehicles, 6/2014-3/2018

Figure 52: VND/USD exchange rate, 2013-3/2018

Figure 53: World crude oil, 2011-3/2018

Figure 54: Structure by source of CO2 emission to the environment

Figure 55: Population pyramid, 2016

Figure 56: Outstanding consumer loans, 2012-2017

Figure 57: Forecast of car consumption in Vietnam, 2016-2020f

List of tables:

Table 1: Regulation of maintenance of means of transport

Table 2: The draft import tax applies to automobile parts

Table 3: Roadmap to apply special consumption tax on cars

Table 4: Roadmap for WTO tariff reductions for complete cars and auto parts imports

Table 5: Import structure of automobile components and accessories, 2017e

Table 6: Export structure of automobile components and accessories, 2017e

Table 7: Top the largest automobile consumption countries by volume, 2017

Table 8: Competitive Analysis between Truong Hai and Toyota Vietnam by the end of September 2017

Table 9: Import tax on cars by country (%), 2017

Table 10: Imported car prices from ASEAN before 1/1/2018, assuming an original price of 100

Table 11: Imported car prices from ASEAN after 1/1/2018, assuming an original price of 100

Table 12: Expected volume of domestic assembled vehicles compared to total domestic demand (%)

Table 13: Estimated vehicle output and growth rate of the year

Table 14: Expected to export complete vehicles and spare parts

Table 15: Rate of localization by value over years

 

 


List Of Figure

List of figures:

Figure 1: GDP growth by Quarters, 2015-Q1/2018

Figure 2: Monthly CPI fluctuations, 2015-3/2018

Figure 3: GDP per capita, 2013-2017

Figure 4: Lending interest rate and mobilizing interest rate, 2012-2017

Figure 5: VND/USD exchange rate, 2013-3/2018

Figure 6: Level of urbanization, 2010-2017

Figure 7: Disposable income and household expenditures, 2008-2017f

Figure 8: Import of world car components, 2010-2017e

Figure 9: Production of cars in the world, 2010-2017

Figure 10: Structure of world production by vehicle, 2017

Figure 11: Production structure by region, 2016-2017

Figure 12: Top 10 World's best-selling cars , 2017

Figure 13: World car consumption by type, 2010-2017

Figure 14: Consumption of car in the world, 2013-2017

Figure 15: Car consumption of ASEAN Automotive Federation members (AAF), 2017

Figure 16: The number of vehicles used in the world, 2010-2015e

Figure 17: Structure of vehicle usage by area, 2015

Figure 18: Exporting cars in the world, 2010-2017e

Figure 19: Structure of automobile exports by country, 2017e

Figure 20: Import structure of cars by country, 2017e

Figure 21: Top 10 leading producers in the world, 2016

Figure 22: Top ten world's most-priced cars published by Brand Finance, 2017

Figure 23: Number of businesses, 2010-2016

Figure 24: Number of employees, 2010-2016

Figure 25: Turnover of automobile manufacturing and assembly, 2010-2016

Figure 26: Turnover of automobile wholesaling and retailing, 2010-2016

Figure 27: Vehicle consumption structure by business, Q1/2018

Figure 28: Import of car accessories, 2010-Q1/2018

Figure 29: Localization rate of some countries in the region, 2016e

Figure 30: Import of auomobile spare parts by countries, Q1/2016-Q1/2018

Figure 31: Import structure of automobile spare parts, Q1/2018

Figure 32: Production and assembly of automobiles in Vietnam, 2010-2017

Figure 33: Production output of THACO, 2010-2016

Figure 34: Production, assembly structure by vehicle type, 2010-Q1/2018

Figure 35: Traffic panorama of Vietnam, 2016

Figure 36: General automobile consumption in Vietnam, 2006-Q1/2018

Figure 37: Consumption of cars by vehicle type, 1/2016-3/2018

Figure 38: Consumption output by car origin, 2016-3/2018

Figure 39: Trends in automobile industry development in some Southeast Asian countries, 2011-2016

Figure 40: Number of cars owned per 1,000 people, 2016e

Figure 41: Number of cars per 100 households by urban and rural areas, 2004-2016e

Figure 42: Top 10 best selling cars Q1/2018

Figure 43: Consumption structure of VAMA members by region , Q1/2016-Q1/2018

Figure 44: Consumption vehicles of VAMA members by region, Q1/2018

Figure 45: Vehicle consumption structure by business, Q1/2017

Figure 46: Vehicle consumption structure by business, Q1/2018

Figure 47: Import of automobiles in complete units, 2011-Q1/2018

Figure 48: Importing cars by country,Q1/2016-Q1/2018

Figure 49: Automobile prices comparing Vietnam with other countries, 6/2017

Figure 50: Price of vehicle according to the cost structure of the consumer must bear

Figure 51: Price movements of some major vehicles, 6/2014-3/2018

Figure 52: VND/USD exchange rate, 2013-3/2018

Figure 53: World crude oil, 2011-3/2018

Figure 54: Structure by source of CO2 emission to the environment

Figure 55: Population pyramid, 2016

Figure 56: Outstanding consumer loans, 2012-2017

Figure 57: Forecast of car consumption in Vietnam, 2016-2020f


List Of Table

List of tables

Table 1: Regulation of maintenance of means of transport

Table 2: The draft import tax applies to automobile parts

Table 3: Roadmap to apply special consumption tax on cars

Table 4: Roadmap for WTO tariff reductions for complete cars and auto parts imports

Table 5: Import structure of automobile components and accessories, 2017e

Table 6: Export structure of automobile components and accessories, 2017e

Table 7: Top the largest automobile consumption countries by volume, 2017

Table 8: Competitive Analysis between Truong Hai and Toyota Vietnam by the end of September 2017

Table 9: Import tax on cars by country (%), 2017

Table 10: Imported car prices from ASEAN before 1/1/2018, assuming an original price of 100

Table 11: Imported car prices from ASEAN after 1/1/2018, assuming an original price of 100

Table 12: Expected volume of domestic assembled vehicles compared to total domestic demand (%)

Table 13: Estimated vehicle output and growth rate of the year

Table 14: Expected to export complete vehicles and spare parts

Table 15: Rate of localization by value over years

 

 

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Products and Companies


Companies

Truong Hai Auto

Toyota Vietnam

Lexus Vietnam

Ford Vietnam

Honda Vietnam

Mercedes - Benz Vietnam

Hino Motor Vietnam

Isuzu Vietnam