Decree 360/2025, effective from 1/1/2026, mandates a 9% increase in special consumption tax (SCT) by 2029 for specific vehicle types. These include double-cab pickup trucks (referred to as pickup trucks) and van trucks with two or more rows of seats that feature a fixed partition between the passenger and cargo compartments.

The following table outlines the special consumption tax increase schedule for dual-cab pickup trucks, designed for both passenger and cargo transport in Vietnam:

* Unit: %. The 7% tax for electric pickup trucks applies from 1/3/2027.

The Vietnamese pickup truck market currently features models such as the Toyota Hilux, Ford Ranger, Mitsubishi Triton, Isuzu D-Max, and Nissan Navara, all imported from Thailand. Due to their design and a carrying capacity exceeding 950 kg, these models are classified as dual-cab pickup trucks, suitable for both passengers and cargo. A few large pickup truck models, like the Ford F-150 and Ram 1500, are categorized as passenger cars.

A Toyota Hilux model on the road in Vietnam. *Photo: TMV*

The special consumption tax is a component of automobile retail prices. This tax increase could lead to higher prices for pickup models such as the Triton, Hilux, Ranger, and D-Max in the coming years. However, whether prices rise also depends on other factors, particularly each manufacturer's sales policies.

For battery electric pickup truck models, the special consumption tax rate remains at 2% as before 2026, but it will increase to 7% from 3/2027.

Pickup truck sales in Vietnam are not as high as those for sedan, CUV/SUV, or MPV segments. In 2024, the pickup truck segment sold 23,164 units, accounting for approximately 4,6% of the total market. By 11/2025, cumulative sales reached 24,164 units, surpassing the entire 2024 sales volume, with market share remaining unchanged.

Pham Trung