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1 FORECASTING THE TREND OF DEVELOPMENT OF VIETNAM’S AUTOMOBILE INDUSTRY IN THE PERIOD 2011-2020

1 FORECASTING THE TREND OF DEVELOPMENT OF VIETNAM’S AUTOMOBILE INDUSTRY IN THE PERIOD 2011-2020

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the prices. In fact, joint venture companies did not keep their

commitment to get localization rate of 30-40% in 10 years.

Currently, localization rate in products manufactured by joint venture

companies gets only 2-12%. Supporting industries in Vietnam

provide just simple and low valuable products for car manufacturing

process such as tire, tube, battery, electric wire, car chair, etc.

In general, there is no clear orientation from the government for the

development of Vietnam’s automobile industry.



4.1.2 Development orientation by Government in other country for

development of automobile industry.

To forecast the trend of development of Vietnam’s automobile industry for

the period of 2011-2020, taking a look at neighboring countries and at

Vietnam itself will be essential:

Malaysia:

From 1985, Malaysia government promulgated a policy to protect home

manufactured cars with an ambition to take control of the automobile

industry.

However, domestic cars in Malaysia can only be consumed in domestic

market with a falling market share. Future of Malaysia’s car makers are

foreseen to be bankrupted or merged with a big car maker. Effectiveness of

the protection policy can be seen clearly.

Recently, Malaysian government decided to remove protection policy,

creating a market with higher competition. Inhabitants benefit from this

change.

Thailand:

Thailand is now considered as “Detroit of Asia”, as a center providing cars

and accessories to many big car makers all over the world.

Thailand did not do the same way as Malaysia or Vietnam did. Until now,

Thailand has not have its own brand name cars but it has established 700

car component manufacturers and 1000 auxiliary manufacturers.

It can be said that Thailand is in the right direction in developing

automobile industry by participating in global production chain, attaching

special importance to a specific product, not developing domesticmanufactured cars at all costs.

China:



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In 1994, Chinese government promulgated Policy of developing

automobile industry, recognizing relationship between car and family for

the first time. It created a large market for cars and that period is considered

as a remarkable milestone in development of China’s automobile industry.

India:

At first, it also protected domestic automobile industry. This resulted in an

impasse. In 2000, policy of free trade and tax support, with removing many

trade and investment barriers, made a good condition for development of

domestic car market and car export.

Thus, with all the trends, Vietnam’s automobile industry has a good chance

to export car,

4.2



Development orientation for Vietnam’s automobile industry



Joint venture enterprises:

They manufacture car styles which are liked in the foreign markets. On the

contrary, they import car styles which have not been assembled or

manufactured in Vietnam through their relationship with their mother

companies abroad. Gradually, they only import prevalent car styles which

are manufactured by their branch abroad. The way automobile

manufacturing joint venture enterprises do is the same the way electronic

joint venture enterprises did before.

Domestic companies

The way domestic companies do to develop is to build their own brand

name cars or to assemble foreign cars. Development process of some

representative companies will be considered to assess development trend of

automobile domestic companies. Two representatives must be Vinaxuki and

Truong Hai.

Truong Hai Automobile (Thaco)

According to statistical data from VAMA, Truong Hai Auto’s products

(trucks, passenger cars) with trade name of Thaco make up 40% of the

market share all over the country. Analysis on the developing process of

Truong Hai Auto may reveal the way Truong Hai Auto develops:

- At first, Truong Hai assembled light trucks for Kia, a Korean littleknown car manufacturer. From 2001 to 2005, there were 15,000

Kia’s light trucks sold, making up 45% of light truck market share in

Vietnam.

- In the end of 2004, Truong Hai put Chu Lai truck/passenger car

assembling factory into operation with capacity of 10,000

vehicles/year.



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- In 2007, Truong Hai reached localization rate of up to 50%.

- In 2008, Truong Hai invested in tourist car assembling factory based

on technology transferred by HYUNDAI KIA-Korea.

- In 2010, a line for assembling Mazda cars was put into operation.

Development orientation of Truong Hai is to specialize in assembling

famous brand name cars, beginning from assembling less famous brand

name cars. On that basis, Truong Hai can increase localization rate so that

supporting industries can develop. With this policy, Truong Hai is on the

way of development. Many brand name cars are assembled by Truong Hai

such as Kia New Morning, Hyundai, King Klong…

Xuan Kien Automobile (Vinaxuki)

- Vinaxuki has produced 38 truck styles, 2 pick-up truck styles, 2 car

styles and 02 passenger styles with localization rate of 22-44%.

- Vinaxuki continues to invest in high-tech so that it can get

localization rate of 70-80% by 2016 for 15 styles of truck, passenger

car, making up 7-8% of Vietnam’s automobile market share.

- In the middle of 2009, Vinaxuki signed a contract with Nagara

(Japan) to produce Vietnamese tourist cars. The contract contents

included design, technology transfer and supervision of

manufacturing car in Vinaxuki.

Orientation of Vinaxuki is to build up its own brand name cars. Vinaxuki is

only famous for light trucks now.

4.3



RECOMMENDATIONS

FOR

IMPROVING

STATE’S

REGULATION ON THE DEVELOPMENT OF VIETNAM’S

AUTOMOBILE INDUSTRY FOR THE PERIOD 2011 – 2020



Based on analysis on what is achieved, shortcomings and reasons for

underdevelopment of Vietnam’s automobile industry, some suggestions are

made as follows:

For strategy: it is necessary to review Vietnam’s development strategy for

automobile industry, not follow orientation to leapfrog but match reality.

For served object: Consumers are the major served object. And most of

Vietnamese with low income can not ever buy a car, unless it is sold with a

proper price.

For tax policy: the government needs to promulgate new tax policy with

some flexible taxes such as environment tax, tax on roads, insurance

depending on each characteristic of each car.

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For automobile manufacture and assembly companies: giving priority to

investors who invest in manufacturing accessories, car styles satisfying

following conditions: consistent to market conditions of Vietnam, with

good quality and environment-friendly.

For awareness: Being aware that cars with less than 09 seats (high-class

cars) are not luxury goods. It is a motive power for the development of the

nation. It is essential to promulgate proper tax policies to promote the

development of domestic automobile industry as well as lowering the

prices.

For technology: giving priority to investors who invest in high technology,

have many different brand name cars. Proposing technical regulations for

manufacturing cars, especially regulations for emission for which Euro III

or Euro IV can be applied.

For businesses: an equality policy for all forms of business who take part

in Vietnam’s automobile industry is essential.



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