Vietnam’s new vehicle market expanded by 6% to 24,479 units in April 2026 from 23,186 units in the same month last year, according to wholesale data released by the Vietnam Automotive Manufacturers Association (VAMA). The data do not include some major players in the market, including domestic automaker VinFast, Hyundai, Mercedes-Benz, Nissan, and other overseas brands.
In the first four months of 2026, the vehicle market expanded by 23% to 101,269 units from 82,122 units in the same period last year, driven by strong, broad-based economic growth in the country. The latest government data showed GDP grew by 7.8% year-on-year in the first quarter of 2026, down moderately from a peak of 8.5% in the fourth quarter of 2025.
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Sales of light passenger vehicles increased by 22% to 68,772 units year-to-date, while commercial vehicle sales increased by 25% to 32,497 units. Truong Hai (Thaco) Group, the local assembler and distributor of several overseas brands and a major player in the commercial vehicle segment, reported a 17% sales increase to 31,311 units in this period. This includes a 13% increase in Thaco commercial vehicle sales to 8,898 units, while Mazda sales rose by 17% to 10,633 units and Kia sales were up by 28% to 10,545 units.
Toyota reported a 34% surge in sales to 23,263 units in the first four months of the year, while Ford’s sales rose by 11% to 14,998 units; Mitsubishi 15,348 units (+54%); and Honda 7,433 units (-10%). VinFast reported separately that its sales surged by 76% to 78,458 units in this period, while Hyundai’s sales rose by 9% to 17,430 units.
GlobalData expects sales of light vehicles in Vietnam to increase by over 4% to 587,000 units this year, after growing by 20% to 562,000 units in 2025, driven by continued strong economic growth and rising consumer demand. The Vietnamese government announced last year that it will continue to exempt battery electric vehicles (BEVs) from the vehicle registration tax until the end of February 2027, while in January the sales tax on hybrid vehicles was cut by 30%.
