China Launches First Car Model in Vietnam

The Lifan 520 of the Chinese Lifan group became the first Chinese sedan, four-seat, car model to be assembled and sold in Vietnam – $16,000.

The car's appeal is to taxi companies and mid-income earners.

The goal is to sell 2000 units a year. 100 of them have already been purchased by the Bao Tan taxi firm.

Vietnam hs 13 automobile joint ventures with a total registered capital of about $700 million. The JVs can roll out 173,000 units a year.

Vietnams 83 million residents have only 700,000 privately-owned cars and 17 million motorbikes.

However, as Vietnam joins the WTO, the country expects there to be more mid-income earners in the country = more cars being bought up.

Have you ever been to Vietnam?