Among the incentives, the government is urged to lower the special consumption tax for locally made parts to help them reduce prices to compete with foreign manufacturers.

The year of 2019 was a difficult period for Vietnam’s auto market, but also marked positive performances of most local car producers.

The company is concerned that demand from China, which accounts for half of the group’s shipments of latex, will fall.

In January, Vietnam imported nearly 4,000 cars worth US$106 million, up 14% month-on-month in volume but down nearly 49% in value.

All have suspended operation during the 15-day nationwide social distancing period, while resumption of production would depend on the actual pandemic situation.