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[Vietnam] Production and sales of "VINFAST," the first domestically produced car and motorcycle, begins / Unveiled at a group company's shopping center

  • Release date: Apr 25, 2019
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Vietnam's first domestically produced car and electric motorcycle by a local conglomerate

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Sales of domestically produced cars in a price range that is affordable to the middle class will soon begin.

As the middle class expands and the standard of living improves in Vietnam, the need for higher services and quality is increasing. In addition, the demand for cars and motorcycles has been high for some time. Furthermore, Vietnamese people are generally patriotic and have a strong interest in domestic cars. Until now, few people have been able to purchase automobiles due to the high price and the 100% tariff. However, with the high demand for car-delivery apps such as Grab and GO-VIET, more and more people are becoming drivers on the side, creating a tailwind for new car purchases. The first domestically produced cars that are scheduled to go on sale will not be subject to tariffs, and it is expected that more middle-income earners will purchase them.
Starting with real estate, the Binh Group has entered a wide range of industries, including hotels, retail, and transportation. As for VINFAST, the company is willing to sell it outside Vietnam.

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This article is co-authored by TNC Lifestyle Researcher (http://lifestyle.tenace.co.jp/) and Intage's Global Researcher.

  • TNCアジアトレンドラボ

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    TNC ASIA Trend Lab

    TNC ASIA Trend Lab is an information organization run by TNC Inc. that researches and shares trends in Asia. It supports corporate marketing activities by finding insights from trends rooted in the lifestyles and habits of local consumers.
    http://lifestyle.tenace.co.jp/

  • Intage Inc

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    Intage Inc.

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