Vietnam AutoExpo 2020 – a convention for automobiles, motorcycle and supporting products industries will be held in May 2020 in Hanoi.
According to analysts, Vietnam is to become the fastest-growing market among ASEAN countries in 2020 at 6.8% and this trend may even carry out into 2021. This comes across as a positive signal for our own automobile industry.
Reports from Vietnam Automobile Manufacturers Association recently stated that total car consumption figures from members in the first 10 months of 2019 was 259,282 units, increased by 16% compared to that period of 2018. These numbers indicated the automobile market in Vietnam is making progress in the process of socializing cars, with continuous rise in demand. Projected reports for the time frame of late 2019 – early 2020, growth in sales would surpass 25% in a flash, initializing the start of a grand development of the market on the whole.
At the moment, localization rate for domestic commercial models has fundamentally hit goals of the Automotive Industry Development Strategy. Specifically, the models of under-7-ton light trucks, 25-or-over-seated passenger cars and domestic-made special-purpose vehicles have reached the localization rate from 45% to 55%, exceeding planned targets. The automobile industry has basically met the needs of domestic market.
Aside from which, to further develop the automobile business, supporting industries in the market had also received countless care and support regarding policies to grow, namely Decree 111 on the development of said industries in effect since late 2018. This is highly beneficial for enterprises, investors and of course, supporting markets.
First introduced in 2004, through 16 years of establishment, Vietnam AutoExpo is considered the ideal environment for enterprises that manufacture, assemble, sell cars or motorbikes, electronic vehicles and supporting industries to be exposed to chances of reaching out to potential customers, advertising products, experience exchange, technology transfer…, while guarantee long-term partnerships and strong investments in the Vietnamese market.
In 2019, AutoExpo saw the appearance of 23 automobile, motorcycle and specialized vehicular brands, 180 manufacturer and distributer of parts and accessories; banks, insurance and other relevant fields. With multiple activities during the span of 4 days, the expo became a highlighting event, attracting up to 38,000 visits.
Continuing the success of previous events, Vietnam AutoExpo 2020 will return from 07 to 10/5/2019 at NCC, Hanoi. Vietnam AutoExpo 2020 will be a gathering of various big names such as Vinfast, Mitsubishi, Veam Motors, Gaz Group, Maz, Kamaz, Daewoo, Faw, Dongfeng, Hyundai, Hino, Dcar…; motorcycle companies like Ducati, Harley-Davidson, Triumph, Royal Enfield… along with other companies in the supporting products market: Dunlop, Elig, Vietmap, Bosch, Philips, Steelmate, Daichi…
With professional establishment and attractive activities, Vietnam AutoExpo 2020 is expected to have up to 40,000 visits and bring in awesome experiences. The event is considered to be the most famous convention in the Northern market this year.