Cleantechnica is running an article about Vietnam’s electric vehicle market in which they use data from the International Trade Association that suggests that the car ownership rate in Vietnam will reach 30 percent by 2030 up from 5.7 percent in 2020. The original report also says that rate will be 9 percent next year.
This should give pause for thought. Vietnam’s cities are not built for cars–there is a huge lack of parking, the streets are narrow and potholed, and as a result of the vehicles that are on the road now, traffic congestion is hugely problematic. Increasing the number of cars threefold, has the potential to make this much worse.
All of that said, these figures look to be quite big. The average salary in Vietnam as of the third quarter of 2023 was US$291.94 a month. With a new car at the lower end of the scale running at US$10K to US$15K, 30 percent by 2030 may be a bit of a stretch.