Demand for cars to boom in 2020: MoIT forecast

5 November 2017
Vietnam Investment Review
Development and funding for transport / Industries / Vendor associations

The average income per capita in Viet Nam will reach about US$3,000 in 2020 and the demand for cars will boom, according to the Ministry of Industry and Trade’s (MoIT) forecast presented on Thursday at a seminar in Ha Noi.

At the seminar, in the presence of Government officials and representatives of the Vietnam Automobile Manufacturers’ Association (VAMA) and 200 businesses, MoIT said domestic auto demand could reach more than 600,000 units a year by 2025. At this scale, the market would be able to attract resources for sustainable development.

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 VNA staff

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Demand for cars to boom in 2020: MoIT forecast

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