Overview of the Automotive Industry in the Greater Mekong Subregion, Forecast to 2021

Trade Liberalization and Investments in Infrastructure to Push Evolution of GMS Countries into Automotive Hubs

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The study provides an overview of the automotive industry in the Greater Mekong Subregion (GMS). Over the years, the global automotive industry has been focused on the developed countries with saturated growth and developing countries which are likely to be saturated in the short to medium term. In this scenario, the countries in the Mekong subregion are expected to be a boon to automotive companies in expanding their top line in the coming years. The Mekong subregion includes Myanmar, Lao PDR, Cambodia, Vietnam, and the Yunnan and Guangxi provinces in China.

The research service also offers a detailed insight into the automotive markets in four countries: Myanmar, Lao PDR, Cambodia, and Vietnam. The study examines the economic and social factors, growth prospects, capabilities, and infrastructure in these key countries of the Mekong subregion. It also provides a detailed overview of the new vehicle sales in these countries with 2016 as the base year. The research service covers the new vehicle sales (passenger and commercial) for the period 2010-2016 and also offers the new sales forecasts in these markets for the period 2017-2021.

Key Target Audience
The target audience includes:
•     Global and regional automotive OEMs with presence or stake in GMS
•     Global and regional automotive component companies with presence or interest in GMS
•     Consultancy firms interested in developments in GMS
• Research organizations
•     Technological partners

Research Scope
•     Profile of key countries (Myanmar, Lao PDR, Cambodia, and Vietnam) including country overview and economic and social indicators
•     New vehicle sales of passenger and commercial vehicles in Myanmar, Lao PDR, Cambodia, and Vietnam between 2010 and 2016
•     Automotive overview, market drivers and restraints and regulatory environment for automotive industry in Myanmar, Lao PDR, Cambodia, and Vietnam
•     New vehicle sales forecasts across GMS countries during the period 2017-2021 in Myanmar, Lao PDR, Cambodia, and Vietnam
•     Multilateral and Free Trade Agreements affecting the automotive industry in Myanmar, Lao PDR, Cambodia, and Vietnam

Key Questions This Study Will Answer
•     What are the economic and social indicators of development in Myanmar, Lao PDR, Cambodia, and Vietnam?
•     What are the new vehicle sales trends in these countries during the period 2010-2016?
•     What are the key market drivers and restraints for automotive industry growth in these countries?
•     What are the new vehicle sales forecasts for Myanmar, Lao PDR, Cambodia, and Vietnam during the period 2017-2021?
•     Which are the key Multilateral and Free Trade Agreements of these countries that have a direct impact on the automotive sector?
•     What is the general regulatory environment for the automotive industry in these countries?

Table of Contents

1. Executive Summary
Greater Mekong Subregion—Development Roadmap
Factors Affecting the Automotive Sector
Key Findings
2. Scope of the Study
Scope of the Study
3. Country Analysis—Myanmar
Country Overview
Economic Indicators
Social Indicators
New Vehicle Sales—2010–2016
Market Drivers
Healthy economic conditions
Lowest vehicle parc
Political transition
Favorable government policies and regulations
Market Restraints
Dominance of used cars
Low per capita income
Underdeveloped aftermarket
Inadequate road infrastructure
Unpredictable regulatory changes
Regulatory Environment
New Vehicle Sales Forecast
Multilateral Free Trade Agreements (MFTAs)
Free Trade Agreements (FTAs)
Network Analysis
4. Country Analysis—Lao PDR
Country Overview
Economic Indicators
Social Indicators
New Vehicle Sales—2010–2016
Market Drivers
Increasing infrastructure projects
Increase in car ownership
Economic stability
Favorable government policies
Market Restraints
Low per capita income
Poor infrastructure
Absence of domestic OEM plants
New Vehicle Sales Forecast
Multilateral Free Trade Agreements (MFTAs)
Free Trade Agreements (FTAs)
5. Country Analysis—Cambodia
Country Overview
Economic Indicators
Social Indicators
New Vehicle Sales—2010–2016
Market Drivers
Increasing per capita income
Liberalization and increasing employment opportunities
Infrastructure development
Market Restraints
Dominance of grey market
Stagnation in evolving as an automotive hub
Poor road infrastructure
New Vehicle Sales Forecast
Multilateral Free Trade Agreements (MFTAs)
Free Trade Agreements (FTAs)
6. Country Analysis—Vietnam
Country Overview
Economic Indicators
Social Indicators
New Vehicle Sales—2010–2016
Top OEM Manufacturing Capabilities
Key Players
Network Analysis
Market Drivers
Consistent GDP growth and increasing disposable income
Potential growth of passenger car segment
Expansion of existing global luxury brands coupled with new entrants
Vietnam Automotive Master Plan aims to make automotive an important industry by 2020
Tariff reductions according to AFTA and WTO commitments
Market Restraints
High cost of vehicle ownership
Unpredictable government policies
Car restriction policies
Absence of domestic supplier base
Vehicle Sales Forecast
Regulatory Environment
Multilateral Free Trade Agreements (MFTAs)
Free Trade Agreements (FTAs)
7. Growth Opportunities and Companies to Action
Growth Opportunity 1—Increased Penetration of New Vehicles
Growth Opportunity 2—Infrastructure Developments in Laos and Cambodia
Growth Opportunity 3—Positive Economic Prospects
Growth Opportunity 4—Rising Economic Co-operation in the Region
Strategic Imperatives for Success and Growth of Automotive Sector in GMS
8. Conclusions and Future Outlook
Key Conclusions
Evolution into Automotive Hubs
Increase in New Vehicle Sales
Market of the Future
Legal Disclaimer
9. Appendix
Abbreviations and Acronyms Used
10. The Frost & Sullivan Story


List of Figures & Charts

1. Economy Overview, Myanmar, 2014 and 2015
2. Social Overview, Myanmar, 2014
3. Exchange Rate, Myanmar, 2014–2016
4. Interest Rate, Myanmar, 2015
5. Sex Ratio, Myanmar, 2016
6. Household Income by Percent Share, Myanmar, 1998
7. Human Development Index, Myanmar, 2014
8. Automotive Market: Key Market Drivers, Myanmar, 2017–2021
9. Automotive Market: Market Restraints, Myanmar, 2017–2021
10. Automotive Market: Automotive Tax Structure, Myanmar, 2016
11. Tariff, Myanmar, 2016
12. ATIGA Tariff Schedule of Myanmar, 2013–2015
13. AANZFTA Tariff Schedule, Myanmar, 2014–2024
14. Vehicle Segments & Categories for Tariff Reduction, Myanmar, 2016
15. Tariffs ACFTA Schedule, Myanmar, 2014–2020
16. Tariffs AIFTA Schedule, Myanmar, 2015–2022
17. Tariffs Schedule, Myanmar, 2015–2017
18. Economy Overview, Lao PDR, 2010 and 2015
19. Social Overview, Lao PDR, 2014–2016
20. Exchange Rate, Lao PDR, 2013–2015
21. Interest Rate, Lao PDR, 2016
22. Sex Ratio, Lao PDR, 2016
23. Household Income by Percent Share, Lao PDR, 2016
24. Human Development Index, Lao PDR, 2016
25. Automotive Market: Key Market Drivers, Lao PDR, 2017–2021
26. Automotive Market: Key Market Restraints, Lao PDR, 2017–2021
27. Tariffs Schedule, Lao PDR, 2015–2025
28. Vehicle Segments & Categories for Tariff Reduction, Lao PDR, 2016
29. Tariffs Schedule, Lao PDR, 2014–2026
30. ACFTA Tariffs Schedule, Lao PDR, 2015–2020
31. Tariffs AIFTA Schedule, Lao PDR, 2015–2020
32. Economy Overview, Cambodia, 2010 and 2015
33. Social Overview, Cambodia, 2014–2016
34. Exchange Rate, Cambodia, 2013–2015
35. Interest Rate, Cambodia, 2014
36. Sex Ratio, Cambodia, 2016
37. Household Income by Percent Share, Cambodia, 2016
38. Human Development Index, Cambodia, 2016
39. Automotive Market: Key Market Drivers, Cambodia, 2017–2021
40. Automotive Market: Key Market Restraints, Cambodia, 2017–2021
41. Tariff Schedule, Cambodia, 2013–2015
42. ATIGA Tariff Schedule, Cambodia, 2013–2015
43. Tariffs Reduction Schedule, Cambodia, 2013–2018
44. Tariff Schedule, Cambodia, 2015–2025
45. Vehicle Segments & Categories for Tariff Reduction, Cambodia, 2016
46. Tariff Schedule, Cambodia, 2014–2026
47. AIFTA Tariffs Schedule, Cambodia, 2015–2020
48. Economy Overview, Vietnam, 2010 and 2015
49. Social Overview, Vietnam, 2014 and 2016
50. Exchange Rate, Vietnam, 2013–2015
51. Interest Rate, Vietnam, 2014
52. Sex Ratio, Vietnam, 2016
53. Household Income by Percent Share, Vietnam 2016
54. Human Development Index, Vietnam, 2016
55. Automotive Market: Top OEM Manufacturing Capabilities, Vietnam, 2015
56. Automotive Market: Key Market Drivers, Vietnam, 2017–2021
57. Automotive Market: Key Market Restraints, Vietnam, 2017–2021
58. Automotive Market: Automotive Tax Structure, Vietnam, 2014
59. AFTA Tariff Schedule, Vietnam, 2015–2018
60. AITIG Tariff Schedule of Vietnam to India, 2012–2019


1. Country Overview, Myanmar, 2016
2. GDP Trends, Myanmar, 2012–2017
3. GDP Composition by Sector, Myanmar, 2016
4. Trade of Goods, Myanmar, 2014 and 2015
5. Inflation Change by Average Consumer Price, Myanmar, 2012–2017
6. Population & Growth, Myanmar, 2012–2017
7. Population Breakdown by Age, Myanmar, 2016
8. Labor Force Breakdown by Occupation, Myanmar, 2015
9. Automotive Market: New Vehicle Sales, Myanmar, 2010–2016
10. Automotive Market: New Vehicle Sales Forecast, Myanmar, 2016–2021
11. MFTAs, Myanmar, 2016
12. FTAs, Myanmar, 2016
13. Categories Legend—Tariff Reduction, Myanmar, 2016
14. Automotive Market: Automotive Supply Chain, Myanmar, 2016
15. Country Overview, Lao PDR, 2016
16. GDP Trend, Lao PDR, 2012–2017
17. GDP Composition by Sector, Lao PDR, 2016
18. Trade of Goods, Lao PDR, 2014 and 2015
19. Inflation Change by Average Consumer Price, Lao PDR, 2012–2017
20. Population & Growth, Lao PDR, 2012–2017
21. Population Breakdown by Age, Lao PDR, 2016
22. Labor Force, Lao PDR, 2015
23. Automotive Market: New Vehicle Sales, Lao PDR, 2010–2016
24. Automotive Market: New Vehicle Sales Forecast, Lao PDR, 2016–2021
25. MFTAs, Lao PDR, 2016
26. Categories Legend—Tariff Reduction, Lao PDR, 2016
27. Country Overview, Cambodia, 2016
28. GDP Trend, Cambodia, 2012–2017
29. GDP Composition by Sector, Cambodia, 2016
30. Trade of Goods, Cambodia, 2014 and 2015
31. Inflation Change by Average Consumer Price, Cambodia, 2012–2017
32. Population & Growth, Cambodia, 2012–2017
33. Population Breakdown by Age, Cambodia, 2016
34. Labor Force, Cambodia, 2015
35. Automotive Market: New Vehicle Sales, Cambodia, 2010–2016
36. Automotive Market: New Vehicle Sales Forecast, Cambodia, 2016–2021
37. MFTAs, Cambodia, 2016
38. Status & Timeline, Cambodia, 2016
39. Categories Legend—Tariff Reduction, Cambodia, 2016
40. Country Overview, Vietnam, 2016
41. GDP Trend, Vietnam, 2012–2017
42. GDP Composition by Sector, Vietnam, 2016
43. Inflation Change by Average Consumer Price, Vietnam, 2012–2017
44. Trade of Goods, Vietnam, 2014 and 2015
45. Population & Growth, Vietnam, 2012–2017
46. Population Breakdown by Age, Vietnam, 2016
47. Labor Force, Vietnam, 2015
48. Automotive Market: New Vehicle Sales, Vietnam, 2010–2016
49. Automotive Market: Market Share—Passenger Car Segment, Vietnam, 2015
50. Automotive Market: Top Selling Models, Vietnam, 2015
51. Automotive Market: Automotive Supply Chain, Vietnam, 2016
52. Automotive Market: Vehicle Sales Forecast, Vietnam, 2016–2021
53. Automotive Market: MFTAs, Vietnam, 2016
54. Status & Timeline, Vietnam, 2016
55. Product Categories for Tariff Reduction, Vietnam, 2016
56. Product Categories for Tariff Reduction, Vietnam, 2016
57. Product Categories for VKFTA Tariff Reduction, Vietnam, 2016



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