Overview Of The Automotive Sector In Vietnam Industry Size And Growth Rate
Automotive industry size and growth rateAutomotive Keyless Entry Method Market Report introduces volume and value industry share by players, by regions, by product kind, by customers and also their price alter particulars. Attracted by low per capita-automobile ownership, low labor expenses and a swiftly expanding middle class, different international car-makers (including Toyota and Nissan) decided to invest heavily to expand production capacity in Indonesia and may make it their future production hub. Others, such as Common Motors (GM) have come back to Indonesia (right after GM had shut down nearby operations years earlier) to tap this profitable marketplace. Even so, Japanese car manufacturers remain the dominant players in Indonesia’s vehicle manufacturing business, specifically the Toyota brand. Much more than half of total domestic vehicle sales involve Toyota cars. It is a very tough challenge for western brands to compete with their Japanese counterparts in Indonesia, known as the backyard of Japanese car companies.
Despite the encouraging predictions for sales in the market, there is also the prospective for major disruption due to the advance of environmental crises and corporate and governmental responses to them. Alongside the development trends in the traditional automotive business, the AlixPartners evaluation noted a major trend in the fairly new Electric Automobile (EV) industry, highlighting that the EV share of the all round industry has exponentially grown by 168 % more than the previous two years. At the current rate, the share of EV vehicles in the all round automotive sales of Europe is expected to … READ MORE >>>