Vietnam’s new vehicle market declined by 6% to 24,356 units in June 2026 from 25,793 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 six months of 2026, the vehicle market expanded by 15% to 149,761 units from 130,573 units in the same period last year, driven by strong, broad-based economic growth in the country. The latest government data showed that GDP growth accelerated to 8.4% year-on-year in the second quarter of 2026, up from a revised 7.9% in the first quarter, with all sectors of the economy performing strongly.
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Sales of light passenger vehicles increased by 12% to 100,321 units year-to-date, while commercial vehicle sales increased by 20% to 49,440 units. Sales by local automotive group Truong Hai rose by 11% increase 46,423 units year-to-date, including a 28% rise in Kia sales to 15,732 units and a 4% increase in Mazda sales to 15,298 units, while commercial vehicle sales under the Thaco brand rose by 7% to 13,582 units.
Toyota reported a 21% rise in first-half sales to 35,410 units; while Ford’s sales declined by 2% to 21,232 units; Mitsubishi 21,617 units (+37%); and Honda 11,305 units (+1%). VinFast reported separately that its domestic sales surged by 72% to 115,916 vehicles year-to-date, while Hyundai’s sales rose slightly to 24,381 units in this period.
GlobalData expects total sales of light vehicles in Vietnam to increase by 10% to 617,000 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.
