After Vietnam opened its market to ASEAN nations for tax-free import in 2018, a large number of cars from Thailand and Indonesia were imported, which changed the ecosystem in ASEAN automobile industry. Vietnam's domestic auto parts manufacturers are bound to face increasingly fierce competition from imported products. The Vietnamese government values the automobile industry as one of the main pillars that drives their economy, it will thus empower its domestic manufacturing power through tax rate adjustment, making domestic produced vehicles more competitive in pricing. In the future, Vietnamese manufacturers will need to reduce their production costs as well as assembly cost, improve product and service quality. This provides a unique opportunity for the Greater China suppliers to tap into Vietnam's supply chain that is originally dominated by Japanese businesses.
Vietnam is the world's fourth largest motorcycles market, assembling around 2 million new motorcycles each year, with more than 15 million existing vehicles demanding maintenance. This reflects the enormous market potential in motorcycles components and parts. Electric motorcycles have become popular among the younger generation in recent years, partly due to the reason that it does not require driving license and petrol. According to the survey, 95% of the electric motorcycles in Vietnam are manufactured by Japanese, mainland China and Taiwan companies, while Vietnam's manufacturers only account for 5% of the production.
Against this backdrop, an international gathering of industry experts is set to take place in Hanoi. Ringier Events' ASEAN Automotive & Motorcycle Parts Manufacturing Summit 2019 has a powerhouse lineup of technical experts in the field of automobile and motorcycle production.
Join over 200 delegates and 20 manufacturing professionals and expert speakers in a 2-day event that aims to improve the participant's production competence in using high-efficiency machines, new materials and latest manufacturing techniques. Ringier Events' Southeast Asian conferences have been well-accepted and recognized by participants for bringing the best information. Register now for your free VIP pass at: https://ringierevents.eventbank.com/event/11456/register/, and use the code: LINKEDAAMV. See you soon!
