Vietnamese brand names’ pride

Monday, 2018-10-08 18:05:07
 Font Size:     |        Print

VinFast's Suv LUX SA 2.0 models at the Paris Motor Show
 Font Size:     |  

NDO – Several weeks before introducing two models at the Paris Motor Show, VinFast was one of the hottest keywords on the internet. The day when VinFast’s first two models debuted, not only VTV1, but also many online newspapers directly reported on the event. Because everyone wanted to see the Vietnamese brand’s first car models "in the flesh ", especially, the first appearance was at a prestigious event in Europe. Millions of people watched the live stream on the internet. The story of VinFast cars has continued to heat up afterwards.

It is not difficult to understand why Vietnamese people expected a lot of the event. Vietnam has set up a strategy to develop the automobile industry in the expectation of the people. The public has always expected Vietnam to be on a par with Thailand, Indonesia, or the Philippines, which are countries in the region that produce durable, affordable cars. However, over the past few decades, though domestic automobiles have been carefully protected by tariff barriers, the country has almost failed to raise our localisation rate. In 2018, when tariff barriers in the Southeast Asian region on cars were lifted, people were waiting for the price of cars to fall. But that was only a small discount. Many firms moved from production to import. Only a few companies still maintained production, but a Vietnamese automobile brand was a dream too far away.

At that time, Vingroup Corporation announced the VinFast brand. Only one year later, two models were introduced. VinFast launched the car at a rapid pace, which other car manufacturers take at least three or four years to complete. Particularly, consumers were able to vote for the first time on future car models "of the Vietnamese people".

As 30 years ago, with the "dream" of motorcycles, cars are currently both an essential demand and a "criterion" for evaluating a successful family. At the national level, producing a high-tech product such as automobiles showcases the country's development. And of course, everyone is looking forward to tax incentives and support in production, so that VinFast can provide an affordable product, thus Vietnamese cars can become "cars of all". VinFast is considered as a pride of the Vietnamese. Many people have confirmed that that they will order VinFast as soon as its finished. Many people have called for VinFast cars with the spirit of supporting Vietnamese brands. Very rarely is the pride of Vietnamese goods so high.

The story of the VinFast car is reminiscent of the birth of the Japanese and the Republic of Korean cars in the past. The car industries in Japan and the RoK were born after the European and American industries. Toyota produced their first car when Ford (the US) had been present for more than a third of the century and had been dominating the world. The first Hyundai (the RoK) car debuted in the late 1960s. The latter always met with difficulties, as many brands had claimed their name, and accumulated countless experiences, from manufacturing to business. There are many reasons that Japanese cars dominate so many markets around the world. There are many reasons that Korean cars with the Hyundai brand have been listed among the top 10 largest automakers in the world for many years. Meanwhile, many European - American car companies have gone bankrupt. But there is no denying that Japanese and Koreans have made cars with national pride, with the desire to assert themselves in the global market. For both Japanese and Korean have the idea that using domestic cars is synonymous with nationalism. This concept has contributed to supporting Japanese and the RoK’s car companies to dominate the domestic market, before conquering the international market.
Introduced as the car market has countless well-known names, from all over the continent, VinFast's standpoint is similar to the Japanese and Korean automakers in their national spirit.

The pride of the Vietnamese brand is important in the consumption of goods and brand development, especially with goods that are introduced in a saturated market. The VinFast car brand has the "great support" of national spirit. But in order for the brand to have a true place in the market, the essence is quality and price, which must meet the expectations of consumers. Otherwise, the distance between hope and disappointment will be very close.