Vietnam ranks fourth in Southeast Asia in auto production as of the first 10 months of this year. With 362,000 units, vehicle production went up by 16.4% year-on-year, according to the General Statistics Office of the country.
Thailand leads the region with nearly 1.6 million units made during the said period, followed by Indonesia with 1.2 million, and Malaysia with 567,700, according to the ASEAN Automotive Federation.
Many automakers have established factories in Vietnam in recent years, including Toyota, Honda, Ford, Kia and Hyundai. Vietnam’s domestic carmaker VinFast has also been expanding with focus on the global electric vehicle market.
Furthermore, some more brands such as Skoda of Czech Republic and Chery of China are planning to assemble cars in Vietnam through domestic partners within the next couple of years.
Vietnam also ranked 1st in year-on-year auto sales growth in the first 10 months of the year at 52.2%, followed by Malaysia at 50.7%. The country saw 322,963 units sold in the period, against the leader Indonesia’s 851,413.
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