HCMC – Electric and hybrid vehicles are set for continued robust growth, with a forecasted increase of 25-30% in sales this year, capturing an ever-larger share of total car sales in Vietnam.
Green vehicles, which once represented a small share of the Vietnamese car market, have seen continuous growth in recent years, according to the Market Research Department at Oto.com.vn, a subsidiary of Nextgen Vietnam JSC (oto.com.vn).
By 2024, sales of this vehicle category reached 97,000 units, including 87,000 electric cars from VinFast, 5,350 hybrid cars from Toyota, 2,515 hybrid cars from Suzuki, and 1,905 hybrid cars from Honda.
These sales represent more than 22% of all new passenger vehicles sold, highlighting a growing preference among Vietnamese consumers for environmentally friendly cars, reported by the Vietnam News Agency.
With VinFast’s VF3 and VF5 models and popular Chinese electric cars entering the market, demand for information on electric vehicle prices is rising.
The hybrid car market is also seeing growth, with several automakers entering the competition. Toyota leads with 5,350 hybrid cars sold, holding the largest share in the segment. Suzuki follows with 2,515 units, while Honda ranks third with 1,905 units sold of its CR-V and Civic hybrid models.
The used car market for “green” vehicles has seen a surge, with listings for second-hand hybrid and electric cars rising from 2,227 in 2023 to 7,581 in 2024.
VinFast’s VF8 and VF e34 are the most listed electric models, while Toyota’s Corolla Cross HV and Suzuki’s Ertiga Hybrid account for 31% and 18% of hybrid listings, respectively.
