Vietnam to Have More Cars

Vietnam to have more cars

HANOI, Aug. 25 (Xinhua) — Vietnam, currently having 18 cars per 1,000 people, is estimated to have 38 by 2020 and over 50 by 2025, local newspaper Transport on Monday quoted the Heavy Industry Department under the country’s Ministry of Industry and Trade as reporting.

Vietnam is likely to see 166,000-235,000 new automobiles of different kinds, including cars, trucks and buses on roads in 2015. The figures are forecast to surge to 246,000-347,000 in 2020, and 592,000-836,000 in 2025. The number of cars on roads will increase sharply in the near future.

Vietnam should intensify investment in assembling and producing cars and automobile parts to lessen imports, the ministry said. The country should also have synchronous plans on improving transport networks, minimizing traffic congestions, and dealing with environmental issues.

Automobile firms in Vietnam gained total sales of 77,067 vehicles in the first seven months of this year, compared with nearly 80,400 units sold last year, according to the Vietnam Automobile Manufacturers Association. Toyota Vietnam sold 20,113 vehicles in 2007, representing 25 percent of the market share.

Vietnam imported 45,500 completely-built automobiles, mainly cars, valued at 812 million U.S. dollars in the first seven months of this year, recording respective year-on-year surges of 290.1 percent and 265.1 percent, according to the country’s General Statistics Office. It also spent over 1 billion dollars importing automobile parts and components for assembly.

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