Vietnamese Vehicles Market in 2025 is still growing but at a slower rate. YTD sales up to September grew 29.2% with VinFast securing more and more share, up 192.1% in 1st and overtaking prior leader Hyundai.
Economic Environment
In 2025, Vietnam is forecast to remain one of Southeast Asia’s fastest-growing economies, having posted a strong 7.52% GDP growth in the first half, the highest first-half expansion in 15 years. This growth was driven by services (up 8.14%), industrial production and construction (8.33%), and a resilient agricultural sector (3.84%). Services accounted for the largest share of GDP at 43.4%, followed by industry and construction at 36.9%. Inflation picked up modestly, with CPI rising 3.22% year-on-year, led by food, housing, and healthcare costs, though core inflation stayed lower at 3.01%.
Trade rebounded despite global tensions, with total import-export turnover reaching US$432 billion and a trade surplus of US$7.63 billion, thanks to robust exports of electronics, textiles, and agro-forestry-fisheries. FDI surged 32.6% year-on-year to US$21.51 billion, with a sharp rise in capital for existing projects and strong interest in M&A activity. Disbursed FDI hit a five-year high at US$11.72 billion. Meanwhile, Vietnam signed a new trade deal with the U.S., granting preferential access to certain markets but also introducing significant new tariffs. Business formation rose, with over 91,000 new firms and nearly 600,000 new jobs, yet market exits also increased.
Automotive Industry Trend and Outlook
The Vietnamese vehicle market continues to grow in 2025, though by less and less each month. YTD sales up to September gained 29.2% in year-on-year volume and reached 392,841 units.
Brand-wise, VinFast -up 2 spots- gained leadership with a share of 33.7% (+192.1%), in front of Toyota in 2nd (+18.8%), Hyundai -down 2 spots- in 3rd (-11.9%) and Ford in 4th (+20%).
Mitsubishi ranked 5th (-10.5%), followed by Mazda -up 1 spot- in 6th (+2.3%), Honda -up 1 spot- in 7th (+1%), and Kia -down 2 spots- in 8th (-22.4%).
Isuzu -up 1 spot- ranked 9th (+16.5%), followed by Suzuki -down 1 spot- closing the Top 10 (-10.3%).
Looking at the top models, the VinFast VF 3 became the best seller climbing 83 spots followed by the VinFast VF 5 -up 82 spots-.
EV Market Trend and Outlook
Vietnam’s EV segment keeps expanding, growing 189.3% up to September 2025. Now about 33% of the automotive sector, it is predicted that, by 2025, it will become the leading segment.
Vietnam’s EV growth is fueled by government policies such as fee reductions, interest rate cuts and tax incentives. Moreover, EVs are experiencing growing consumer interest, with leader Vinfast (+186.6%) introducing more affordable models.
Medium-Term Market Trend
In Vietnam, motorcycles dominate individual mobility, with over 3 million units sold annually, while car sales have never surpassed half a million.
Despite this, the vehicle market (cars and light commercial vehicles) expanded 182.6% from 2014 to 2024, growing from under 150K in 2010 to around 400K a decade later. Growth slowed in 2021 due to COVID-19 restrictions, causing a 0.4% dip, but Vietnam’s market remained more resilient than other ASEAN nations.
The rise of VinFast, a local EV-focused manufacturer, is driving competition among Japanese and Korean brands, while government EV incentives are accelerating Vietnam’s electrification at a faster pace than the rest of the region.
With 2024 sales up 15.1% and EV sales surging 197.4%, Vietnam is on track to become a regional hub for EVs and the broader automotive sector.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.
