In recent years, China and Vietnam have carried out in-depth cooperation across various sectors, including trade, investment, and infrastructure development. In the automotive sector, Vietnam, as the fourth largest market in ASEAN, encourages and expects Chinese investors to invest in automotive and critical infrastructure projects to jointly promote in-depth economic cooperation and sustainable development of the two countries.
As one of the first Chinese automobile companies to expand overseas, Shineray Motors was the earliest Chinese enterprises to enter the Vietnamese market. In order to gain a deeper understanding of local market demands and launch products more suited to consumer preferences, Shineray Motors Vietnam Co., Ltd. was established in Bac Ninh Province, Vietnam in 2018.
(The picture shows Shineray Motors Vietnam Factory)
In recent years, with the upgrading of consumer preferences and infrastructure development, Vietnam's automotive market is experiencing unprecedented growth opportunities. According to the relevant data from July this year, Vietnam's automotive market shows signs of recovery, with the total new vehicle sales increasing by 18.3% year-on-year, and there remains substantial room for growth in production and sales demand.
Although entering the Vietnamese automotive market poses numerous challenges, Vietnam is inevitably becoming a strategic focal point in Southeast Asia for global automakers seeking expansion opportunities.
However, at present, Chinese automakers entering the Vietnamese auto market generally have adopted the "shortcut" approaches, either through joint ventures to construct KD factories or by opening sales outlets, aiming to minimize initial investment costs. As a Chinese independent brand with strategic courage, Shineray Motors believes that it is not enough to achieve mere "product export", the goal must be a global "brand export". From the outset, the company chose the highly challenging path of developing a full-chain overseas presence. Relying on this strategic decision, Shineray Motors has established a comprehensive production system and sales network in Vietnam, boosting its level of internationalization while laying a solid foundation for the company's long-term development in the Vietnamese market.
Currently, Shineray has four major workshops in Vietnam, including welding, painting, general assembly and manufacturing, along with an advanced CBU vehicle inspection line. The company's annual production capacity reaches tens of thousands of units, with both production efficiency and product quality leading the local market.
As an outstanding representative of Chinese enterprises in the automotive industry in Vietnam, Shineray Motors accurately perceives and deeply aligns with the needs of the local market, focusing on the production of multi-functional light truck and passenger vehicles with fewer than nine seats. It has successfully established a comprehensive service and product system covering diverse application scenarios such as intra-city logistics and agricultural product transportation. Shineray Motors's products and services not only meet the diversified vehicle needs of the Vietnamese market, but also contribute to the local economic prosperity and social development.
After years of development, several models from Shineray Motors have firmly established their presence in the Vietnamese market. Among them, the star product K9 focuses on the 4.2-meter mini -vehicle segment, while X30 and T30 models continue to sell well. To enrich the product line, Shineray Motors has introduced T20, X30L, and T50 a and other models in 2020, and plans to introduce S1, 529 models and special vehicles products into the Vietnamese market by 2025. According to the data from the past five years, Shineray Motors has consistently ranked among the top three in Vietnam’s micro-commercial vehicle market. In 2024, its market share in the minivan segment reached 30%, slightly lower than the top-ranked at 31.6%.
In the future, Shineray Motors will advance step by step towards "victory," further strengthening its competitiveness in the Vietnamese passenger car market.
In response to the increasingly fierce competition in the Vietnamese automobile market and the growing diversified demands of consumers, Shineray Motors has always maintained keen market insight, accurately grasped the market dynamics, and promptly adjusted the market strategies.
In terms of marketing, Shineray Motors has effectively enhanced its brand awareness through diversified marketing strategies. Shineray Motors’ sales network covers the entire country of Vietnam, with more than 70 sales outlets. Additionally, Shineray Motors comprehensively reaches its consumer base through online platforms such as Facebook and TikTok, as well as offline brand image stores. It also pioneered the live-stream promotion for commercial vehicles in Vietnam, attracting widespread attention.
In addition, Shineray Motors is also committed to establishing a comprehensive after-sales service system in the Vietnamese market. Shineray Motors now has 57 service outlets all over Vietnam, 16 after-sales outlets located in key markets such as Hanoi, Ho Chi Minh City and Can Tho. It also has three SRM brand warranty centers certified by Vietnam Register to ensure that consumers can enjoy convenient services at any time.
It is worth mentioning that Shineray Motors's overseas presence has expanded to nearly 50 countries and regions around the world. In various global markets, Shineray Motors consistently adheres to the principle of technological leadership and superior quality, constantly launching high-quality products that meet the local market demands, and providing consumers around the world with top-notch automobile products and services.
As a leading Chinese enterprise in the Vietnamese automobile market, Shineray Motors not only demonstrates the overseas expansion capabilities of Chinese companies but also adds a vibrant touch to the China-Vietnam economic and trade cooperation. While establishing a positive image for Chinese automotive brands, it also promotes Chinese influence through its brand value.
