HCMC – Auto sales in Vietnam fell sharply in February due to the Lunar New Year holiday, but total sales in the first two months of 2026 rose 39% year-on-year.
Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold 19,278 units in February, down 48% from January and 10.8% from the same month last year, according to data released on March 10.
Passenger cars accounted for 12,376 units, down 53% from the previous month. Commercial vehicles totaled 6,542 units, down 37%, while specialized vehicles reached 360 units, down 22%.
Sales declined across both locally assembled and imported vehicles. Domestically assembled models totaled 9,220 units, down 49% from January. Imports reached 10,058 units, down 47%.
Despite the February drop, VAMA reported total market sales of 46,153 vehicles in the first two months of the year, up 39% from the same period in 2025.
Passenger car sales rose 34% year-on-year. Commercial vehicle sales increased 51%.
Hybrid vehicles also recorded sales growth. Their sales reached 1,982 units in January and February, up 19% from a year earlier.
Sales of locally assembled vehicles rose 35% in the two-month period, while imported vehicles increased 42%, according to VAMA.
The association noted that its data does not cover the entire market, as several brands such as Audi, BYD, Jaguar Land Rover, Mercedes-Benz, Volkswagen and Volvo do not report sales.
Separately, Hyundai Thanh Cong reported sales of 3,080 vehicles in February, down 47.5% from January. The Hyundai Creta was the company’s best-selling model with 645 units.
Hyundai Thanh Cong attributed the decline to the extended Lunar New Year holiday and a slowdown after strong pre-holiday demand.
Combining sales from VAMA members and Hyundai Thanh Cong, the market saw 22,358 vehicles sold in February, bringing the two-month total for the two groups to 55,105 units.
VAMA noted that while February sales fell due to seasonal factors, the auto market in 2026 is expected to benefit from economic recovery, rising travel demand and the launch of new models.
