With over 58,000 new vehicles added in March and Q2 discounts underway, Vietnam’s auto market is bracing for even deeper price cuts.

With over 923,000 cars sold, Toyota secures its dominance, while VinFast’s EV breakthrough positions it as a rising star.

Geely Auto, a leading automobile manufacturer based in China, officially entered the Vietnamese market with the launch of its brand and new vehicle models as well as announcement of its nationwide distribution network on March 21.

With around 20 models each, B-SUV and C-SUV segments are the most crowded and competitive in the market.

Toyota Vietnam is recalling 3,591 Wigo units due to a brake system defect and 10 Alphard MPVs due to a hood panel issue. The recall runs from March 2025 to 2028.

Vietnam is on track for a transportation shift, with car sales projected to overtake motorbikes after 2035. The World Bank expects the market to grow to 54 million cars by 2050, fueled by rising incomes and EV adoption.

Car sales in Vietnam grew by 14% in February, with VinFast maintaining its dominant position, outselling Toyota, Hyundai, Ford, and KIA combined.

Major car manufacturers are reversing their all-electric strategies, reinvesting in internal combustion engines to maintain profitability and meet consumer demand.

The affected vehicles were manufactured in the US between May 17, 2010, and March 3, 2019, before being imported and distributed by Ford Vietnam Co. Ltd.

Starting in 2025, Vietnam will reduce import tariffs on luxury cars from Europe, the US, and Japan. Will this lead to lower prices for high-end vehicles, and how will it impact the local market?

Manufacturers like Thaco, Hyundai Thanh Cong, and VinFast are making significant strides in global markets.

China's automotive group Geely Auto Group and Vietnam’s Tasco JSC have begun a campaign to launch the urban SUV Geely Coolray in the Vietnamese market, marking the beginning of their 168 million USD joint venture.

The electric and hybrid vehicle market in Vietnam is projected to experience significant growth, with forecasts indicating an increase of 25-30% in 2025, according to industry experts.

Vietnam’s auto market enters 2025 with strong growth momentum, driven by electrification trends and an expanding range of new models.

About a decade ago, Chinese car brands like Zotye Z8, Beijing X7, and Brilliance V7 entered the Vietnamese market to limited success. But a new fleet of modern Chinese vehicles began to gain traction in the Vietnam market last year.

Vietnam’s automobile industry experienced a significant shift in January 2025, with imported car volumes plummeting by more than 50 percent.

Work on two major automobile manufacturing and assembly plants with Chinese investments will start in northern Thai Binh province in the first half of 2025.

Though facing difficulties, the automobile industry had a prosperous 2024 thanks to the government’s support, car dealers’ preferences, and VinFast’s product strategy.

Vietnam’s auto market closed 2024 on a high note, overcoming challenges to achieve double-digit growth and signaling a path to recovery.