Vietnam is a small country of 331.000 km2, with a long coastline (over 3.400 km) and very high people density. As number of citizens (91 million) Vietnam is the 14th World's country. The urbanization is still low (30%) and less than 10% of people are actually living in the three biggest city, Ho Chi Minh City, Hanoi (the capital) and Haiphong.
Vietnamese economy is high centralized, with state-owned enterprises producing around 40% of GDP. In the last years, Vietnamese authorities were committed to economic liberalization and international integration and managed the country across structural reforms to join WTO (January 2007).
Deep poverty is declined significantly (10.6% of population below poverty level in 2010) while Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year. Pro capita revenue at $ 3.300 still is among the worst globally.
During last decade GDP grew at 7% per annum average. The 2008 global financial recession has hurt Vietnam's export-oriented economy, and the measures taken by the Government to limit trade deficit caused high interest rate an 18.9 inflation rate.
September 2013 sales statistics for the Vietnamese car market were up for the the sixth month in a row pushed by vehicles duties reduction. Year to date the market was 7.4% up. Toyota kept the astonishing market share while Mazda gained space.
In August 2013, the Vietnam's car market posted the 5th year-on-year increase in a row pushed by vehicles duties reduction and grew 6.1%, with year-to-date sales up 7.3%. While Honda kept the outstanding momentum, Kia is falling down.
In Vietnam there is the highest concentration of car market in one brand, as Toyota market share is near 50%. The dominion is confirmed by the year-to-date May model ranking: Fortuner, Corolla, Innova, Camry and Vios. Five Toyota's in Top5.
March car market in Vietnam was hit by expectations over incumbent fees reduction on car registrations and dropped 37% from last year. However the first quarter ended up 2.5%. Toyota reinforced its dominium on market as Kia collapsed.
In the 2012 the car market in Vietnam had lost 26.2% from the previous year, mirroring a worst economic outlook and falling expectations. Toyota picked up the market leadership, outpacing Kia which anyhow improved its share.
In spite of Vietnam is a WTO member since 2007, the automotive industry and the import of vehicles will be completely liberalized towards other ASEAN members under the Free Trade Agreement only in 2018.