Vietnam's Automobile Imports – February 2025

According to preliminary statistics, Vietnam imported 22,200 completely built-up (CBU) vehicles in February 2025, a 130.3% increase from February 2024. During the first two months of 2025, Vietnam imported 29,426 vehiclesworth $652 million, reflecting an 80.0% rise in quantity and a 90.3% increase in trade value compared to the same period in 2024.

Domestic Automotive Market Trends

Decline in Vehicle Sales – January 2025

The Vietnam Automobile Manufacturers Association (VAMA) reported that its members sold 18,893 vehicles in January 2025, a 40% decline from December 2024 and a 2% drop from January 2024.

• Passenger cars: 14,201 units (-42%)
• Commercial vehicles: 4,354 units (-33%)
• Special-purpose vehicles: 338 units (-40%)

Domestic assembled vehicle sales dropped by 29%, while imported CBU vehicle sales fell by 48% compared to the previous month. However, CBU vehicle sales rose by 3% year-on-year, while domestic vehicle sales declined by 7%.

Notable Trends in the Vietnamese Auto Market

• Best-selling models remain imported vehicles, including Ford Ranger, Mitsubishi Xpander, and Toyota Yaris Cross.
• Non-VAMA automakers also faced sluggish sales in early 2025.
• Hyundai sales dropped 63% in January 2025 compared to the previous month, with the Hyundai Accent leading sales (530 units), followed by Hyundai Tucson (476 units) and Hyundai Creta (431 units).
• VinFast exceeded 10,000 EV sales, with VF 3 (4,000+ units) and VF 5 (3,300 units) dominating the market.

VinFast’s 2025 Strategy & Market Outlook

VinFast is set to introduce:

• A new 7-seater MPV model.
• The Green lineup, featuring Minio, Herio, Nerio, and Limo Green for commercial use.

The Lunar New Year (Tết) season in January 2025 led to a temporary decline in sales, but the market is expected to recover strongly in the coming months.

Vietnam’s Automotive Import Situation – January 2025

CBU Car Imports

• February 2025 imports: 22,200 units ($489 million) (+207.2% in quantity, +199.7% in trade value from January 2025)
• First two months of 2025: 29,426 CBU vehicles ($652 million) (+80.0% in quantity, +90.3% in value YoY)
• January 2025 imports: 7,226 CBU units ($163.1 million) (-43.9% in volume, -46.2% in value from December 2024, but +7.7% YoY)

Top Import Sources of CBU Cars (January 2025)

Top 30 Automotive Parts & Components Importers (January 2025)

Conclusion

Vietnam’s automotive market continues to grow, fueled by increasing EV adoption, rising imports, and intensifying international competition. With government backing and changing consumer preferences, the industry will undergo significant transformations in the coming years. To succeed in this dynamic market, stakeholders must remain ahead of emerging trends, invest in infrastructure, and adapt to policy changes.

Compiled by: Allie Le -

Vanguard Business Information LLC