HCMC – Vietnam’s auto market rebounded strongly in February, with total sales improving 16.1% over the previous month to over 37,000 units.
According to the Vietnam Automobile Manufacturers Association (VAMA), its members sold 21,606 units, a 14% month-on-month increase and a staggering 86% year-on-year spike. This sharp rise followed a seasonal decline in January, which was affected by the Lunar New Year holiday.
Commercial vehicles saw the highest growth, with sales surging 56% to 6,775 units. Passenger car sales inched up 2.5% to 14,549 units, while special-purpose vehicle sales fell by 17% to 282 units.
Locally assembled cars accounted for 11,067 units, a 21% rise from January, while completely built-up (CBU) cars saw an 8% increase, reaching 10,539 units.
Beyond VAMA members, other key automakers also reported their figures. Hyundai, through its joint venture with TC Motor, sold 3,022 vehicles, maintaining the same level as in January. Meanwhile, VinFast delivered 12,500 electric vehicles (EVs), contributing significantly to the market’s growth.
By combining sales from VAMA, Hyundai, and VinFast, Vietnam’s auto market recorded 37,128 units sold in February, bringing cumulative sales for the first two months of 2025 to 69,095 units.
However, these figures do not capture the full market picture, as several luxury and international brands—including Audi, Jaguar Land Rover, Mercedes-Benz, Subaru, Volkswagen, and Volvo—do not publicly disclose their sales numbers.
Industry analysts expect demand to continue rising toward the end of the first quarter of 2025, further supporting market recovery. To stimulate sales, automakers and dealerships are rolling out discounts and promotional campaigns.
Additionally, a newly issued decree granting a 100% registration fee exemption for EVs until February 2027 is expected to boost demand for EVs in the coming years.
