Vietnam ranks fourth in Southeast Asia in auto production in the first 10 months at 362,000 units, up 16.4% year-on-year, according to the General Statistics Office.
Thailand leads the region with nearly 1.6 million units made in the period, followed by Indonesia, 1.2 million, and Malaysia, 567,700, according to the ASEAN Automotive Federation.
Many auto factories have recently been established in Vietnam, including Toyota, Honda, Ford, Kia, and Hyundai. Vietnam company VinFast has also been expanding with a focus on the global electric vehicle market.
Some brands such as Skoda (Czech) and Chery (China) are planning to assemble cars in Vietnam through domestic partners in the next 1-2 years.
Vietnam also imports cars from the regional leaders Thailand and Indonesia.
Vietnam also ranked first in year-on-year auto sales growth in the first 10 months at 52.2%, followed by Malaysia at 50.7%.
The country saw 322,963 units sold, against the leader Indonesia’s 851,413.