Vietnam (Ho Chi Minh City) International Auto Parts & Aftermarket Service Exhibition 2024
Exhibition Hours:: June 20-22, 2024.
Exhibit Location:: Saigon Convention and Exhibition Center (SECC), Ho Chi Minh City, Vietnam
Organizers: Messe Frankfurt, Germany.
Organizers: Shanghai Baiyu Exhibition***
Shanghai Baiyu Convention and Exhibition *** major organizers authorized designated units, China Council for the Promotion of International Trade cooperation units, China Auto Parts Exhibition Recruitment Group Exhibition ** brand unit! Professional exhibition organization for more than ten years, you can rely on the long-term partner.
Overview of the Vietnam automotive market
Although Vietnam, as a developing country with a fledgling industry, is not conspicuous in the global automotive market, its potential cannot be ignored. With a population of about 98 million and a land area of 330,000 square kilometers, Vietnam indicates that its market potential is between that of South Korea and Japan.
In recent years, Vietnam's automotive market has developed in a similar style to Japan and South Korea, and domestic automotive companies are working hard to develop and receive strong support from the people. Although Japanese cars are the most sold in Vietnam, Korean cars, especially Hyundai-Kia, also occupy a prominent position in the market. Although Vietnamese domestic brands have made breakthroughs, they are still suppressed by low-end models in Japan and South Korea.
Exhibition Introduction
Vietnam is located in the eastern part of the Indochina Peninsula, bordering China, Laos, and Cambodia, and has a vast coastline in the South China Sea. By the end of 2016, Vietnam's population is expected to reach 92.6 million, with a total of 2 million cars and 37 million motorcycles.
According to WTO regulations, Vietnam's automobile import tax rate is being reduced year by year and is expected to be reduced to 0% by 2018. This means that Vietnam's car and motorcycle market will be further opened up, providing more opportunities for foreign brands.
At present, most of Vietnam's domestic automobiles and motorcycles are assembled and sold locally by foreign brands, and most of its domestic auto and motorcycle parts manufacturers are also invested by foreign investors. Therefore, Vietnam has a huge demand for imported foreign auto and motorcycle spare parts.
China, as the main supplier of spare parts in Vietnam's automobile and motorcycle industry, accounts for about 72% of the total imports. From January to May 2016, the number of motorcycles produced in Vietnam has reached 1.25 million units, a year-on-year increase of 23%；The import value of motorcycles and their spare parts is also as high as 1$5.1 billion, an increase of 87%。
In addition, Vietnam is the only country in Asia to have signed a freedom** agreement with the European Union and an agreement with the TPP, and the drastic reduction of tariffs has further boosted the development of its automotive industry. Vietnam is also the second most popular country for foreign direct investment in the Asia-Pacific region, which provides a solid foundation for the future development of its automotive industry.
In short, with the continuous opening and development of Vietnam's automobile market, as well as close cooperation with China and other countries, Vietnam's automobile and motorcycle market will usher in a more prosperous future.