Vietnam's automobile market experienced a record-breaking year in 2025, with total industry sales reaching 604,134 vehicles. This figure represents a 22% increase from 2024 and surpasses the previous record set in 2022, when the market recovered after the Covid-19 pandemic.

A significant factor in this growth was the substantial increase in vehicle imports from China. According to Vietnam Customs statistics, imports of completely built-up (CBU) automobiles into Vietnam totaled 205,630 units in 2025, an 18,6% rise from 2024. Of this amount, 47,895 vehicles originated from China, marking a nearly 54% increase compared to 2024.

Chinese vehicle imports ranked third among source markets, following Indonesia with 78,156 units and Thailand with 66,109 units. These three countries collectively accounted for over 93% of completely built-up automobile imports into Vietnam in 2025. The growing presence of Chinese brands further underscores this trend; in 2025, 13 Chinese passenger car brands were active in Vietnam, not including commercial vehicle manufacturers, making China the country with the most brands in the Vietnamese market. These brands contributed significantly to the volume of Chinese vehicle imports.

The import value of completely built-up automobiles in 2025 reached 4,74 billion USD, a 31,1% increase from 2024. This indicates that the average value of an imported automobile into Vietnam last year was around 23,000 USD, equivalent to over 600 million dong at current exchange rates.

Breaking down imports by vehicle type, passenger cars (9 seats or fewer) totaled 152,854 units, an increase of 7,1%. Truck imports saw an even more dramatic rise, reaching 28,338 units, up 88,9%.

With sales exceeding 600,000 vehicles, Vietnam is poised to enter the top three largest new car markets in Southeast Asia for the first time in 30 years, alongside Malaysia and Indonesia. This contrasts with Thailand, a market that has consistently been in the top 2 in the region for many years but is now experiencing a slowdown in growth. According to the Federation of Thai Industries (FTI), cumulative sales in Thailand until November reached 546,045 vehicles, with projections of approximately 600,000 vehicles by the end of 2025. In previous years, the "Land of Smiles" market consistently saw sales in the range of 700,000-800,000 vehicles.

A Geely EX5 imported from China at the VnMS 2025 exhibition organized by VnExpress newspaper in Hanoi. Photo: Hoang Giang

Beyond automobiles, domestic businesses also spent approximately 5,93 billion USD on components and parts for automobile manufacturing and assembly, a 25,6% increase compared to 2025. Companies with strong domestic production and assembly sales that are expanding their market share, such as: VinFast, Toyota, and Hyundai, drove up the value of these imported goods into Vietnam. According to data from the Vietnam Automobile Manufacturers' Association (VAMA), VinFast, Hyundai Thanh Cong, and other importers, sales of domestically produced and assembled vehicles reached 391,296 units in 2025, a 17% increase from 2024. Meanwhile, imported vehicle sales stood at 212,838 units, up 25%.

Thanh Nhan