Vietnamese Vehicles Market in 2026 keeps expanding. YTD sales up to April grew by 36.6%, with Vinfast leading while reporting gains of 42.2% to a 75.6% share. The domesti carmaker supported EV growth to a 42.8% share of the total.
Economic Environment
2026 forecasts indicate Vietnam’s GDP growth will reach about 7.5 percent, supported by strong exports and continued foreign direct investment despite global uncertainties. The country ranks among Asia’s top three manufacturing hubs, driven by solid performance across economic potential, infrastructure, trade, tax policy, and workforce innovation. Economic growth remains a key strength, with GDP rising over 8 percent in 2025 and the processing industry playing a major role in expansion. Vietnam’s export sector is led by high-value goods such as electronics, machinery, and textiles, while imports also reflect strong industrial demand.
Tax policy reforms and legislative changes, including a simplified two-tier government system and numerous new laws, have improved the business environment and investor confidence. International trade has expanded significantly, with total trade nearing US$930 billion and supported by a wide network of 17 free trade agreements that enhance global market access. Agreements like the EU–Vietnam Free Trade Agreement have strengthened Vietnam’s position as a major trading partner and increased foreign investment appeal. At the same time, large-scale infrastructure projects, including highways, airports, energy plants, and ports, are boosting connectivity and logistics, reinforcing Vietnam’s role as a leading and rapidly growing manufacturing hub in Asia.
Automotive Industry Trend and Outlook
The vietnamese vehicle market report strong gains in 2026. After closing Q1 at +36.1%, the YTD tally up to April 2026 reached +36.6% to 185,243 units sold.
Brand-wise, VinFast secured leadership with a share of 42.2% (+75.6%), in front of Toyota in 2nd (+33.7%), Hyundai in 3rd (+9.4%) and Mitsubishi -up 1 spot- in 4th (+54.1%).
Ford -down 1 spot- ranked 5th (+11.3%), followed by Mazda in 6th (+17.1%), Kia in 7th (+27.7%), and Honda in 8th (-9.6%).
Isuzu -up 1 spot- ranked 9th (+19.4%), followed by Suzuki -down 1 spot- closing the Top 10 (-42.3%).
Looking at the top models, the VinFast Limo Green surged to become the new top model, with a 10.6% share on the total. The Vinfast VF 3 ranked 2ndwhile the Vinfast VF 5 followed in 3rd, up by 7.588.5%
EV Market Trend and Outlook
Vietnam’s EV segment experiences rapid expansion in 2026, after record sales in the prior year. YTD sales grew by 75.4% to a share of 42.8%, still leading among ASEAN countries in EV adoption.
Vinfast remains the segment leader, with about 99% of the sector. Other brands that reported a significant amount of sales were JMC and Ford.
Medium-Term Market Trend
In Vietnam, EV sales surged from 49,777 in 2024 to 177,295 in 2025, marking growth of 44.4% and 256.2%, respectively. Total vehicle sales (cars and light commercial vehicles) also rose from 387,957 in 2024 to 508,904 in 2025, with growth rates of 9.0% and 31.2%. Motorcycles still dominate personal mobility, with over 3 million units sold annually, while car sales have yet to exceed half a million. Despite this, the vehicle market expanded 182.6% from 2014 to 2024, increasing from under 150K in 2010 to around 400K a decade later.
Growth slowed in 2021 due to COVID-19 restrictions, causing a slight 0.4% decline, though Vietnam remained more resilient than other ASEAN markets. The emergence of VinFast, a domestic EV-focused automaker, is intensifying competition with Japanese and Korean brands. At the same time, government incentives are accelerating EV adoption faster than elsewhere in the region. With overall vehicle sales rising 15.1% in 2024 and EV sales jumping 197.4%, Vietnam is positioning itself as a regional hub for EVs and the wider automotive industry.
Tables with sales figures
In the tables below we report sales for all Brands, top 10 Manufacturers Group and top 10 Models.
