The dream of “made in Vietnam” trucks has long been cherished. This article explores the landscape of Vietnamese truck manufacturing, from initial steps to achievements.
VinFast VF 8 exported to the US marking a new milestone for the Vietnamese automobile industry
The Development Journey of Vietnam’s Truck Industry
The automotive industry in Vietnam, including trucks, started developing more than 20 years ago. Decree 116/2017 created crucial momentum, affirming the role of the automotive industry.
From 2018 to 2020, the production of domestically manufactured and assembled cars continuously increased: reaching 287,586 vehicles in 2018, 339,151 vehicles in 2019, and 323,892 vehicles in 2020. By 2020, there were over 40 enterprises involved in the production and assembly of various types of vehicles, including trucks. Total designed assembly capacity is approximately 755,000 vehicles per year.
"Made in Vietnam" truck prices and the opportunity to be named on the world car export map – photo 1
The production of trucks under 7 tons and passenger cars with 25 seats or more domestically manufactured achieves a high localization rate, approximately 50% for small trucks and over 60% for passenger cars. Some Vietnamese-made truck products have been exported to Thailand and the Philippines.
Challenges and Opportunities for Vietnamese Truck Production
Despite certain achievements, the supporting industry for Vietnamese-made trucks is still fragmented. Circular 11/2022/TT-BKHCN is expected to create new momentum for the industry’s development.
To reach the world, Vietnamese truck manufacturers need to expand export markets. The success of Thaco in exporting buses to the Philippines is evidence of the potential of Vietnamese trucks in the international market.
"Made in Vietnam" truck prices and the opportunity to be named on the world car export map – photo 2
VinFast’s export of 999 VF 8s to the United States is a historic milestone, affirming the position of Vietnamese cars internationally. This is a huge motivation for domestic truck manufacturers.
The Future of Vietnamese Truck Production
With rapid growth potential and opportunities from 0% tariff preferences within ASEAN, the Vietnamese truck industry has favorable conditions for development. Promoting exports, increasing localization rates, and developing supporting industries are key factors.
