, Delhi India (PressExposure) March 19, 2008 -- RNCOS, the leading market research company, has released a report âVietnam Automobile Industry Forecast (2007-2010)â that highlights the present scenario of Vietnam automobile in context of the South-East Asia automobile industry. The Vietnam automobile industryâs production, sales, and import statistics have been covered to figure out the past and future trends, supplemented with forecasting of overall automobiles sales by segment, where motorcycle segment is taken separately due to its large size. The report has rationally analyzed the key driving factors, opportunities, and challenges for the Vietnam automobile industry.
Vietnam Automobile Industry
Worldwide automobile industry is growing at a rapid pace as many countries are going through the phase of economic development. And the same scenario is applicable for Vietnam too in South-East Asia.
Vietnam automobile industry was loosing track till 2005 but it recovered in the year 2006 and posted a good growth rate in South-East Asian countries. Changing lifestyle and rising spending in automobile-related parts in Vietnam has propelled the growth of automobile industry in the country. Apart from that, Vietnamâs entry to WTO has made the conditions favorable for foreign manufactures as the Vietnamese government has reduced the auto-component import tax in 2006. Though Vietnam was more of a motorcycle-oriented country in past years, its passenger car segment witnessed a good growth after Vietnam joined WTO. Rising income and flexible bank loan structure has incited the growth in passenger car segment.
Increased disposable income has increased the purchasing power of Vietnamese and flexible car loan is considered to be a good supporter of passenger car sales in future (2007-2010). Till 2006, spending on buses, coaches, and taxis had increased and it is showing high demand for road transportation. In this scenario, cost effective and low cost passenger cars may see a healthy future ahead.
Key Issues and Facts Analyzed
- What was the automobile sales trend in past in Vietnam automobile industry and how will the industry march ahead in future? - Which factors are thrusting the Vietnam automobile industry? - What are the opportunities and challenges for the automobile manufacturers in Vietnam?
Research Methodology Used
The information has been taken from authentic and reliable sources like books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and access to more than 3000 paid databases.
Methods like historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis have been used in the report for rational analysis.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.
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