The Vietnamese auto market remains volatile, with sales fluctuating significantly over the past six months. After three months of steady growth, industry-wide sales have declined for the past two months.
The Vietnam Automobile Manufacturers' Association (VAMA) and importers sold 25,973 vehicles in August, a 19% decrease compared to the previous month. VinFast also saw a slight 5% dip, selling 10,922 vehicles. Hyundai, on the other hand, experienced a modest increase of nearly 3%, reaching 3,701 vehicles sold.
Total industry sales for the aforementioned companies reached 40,596 vehicles in August, marking a 13% decrease from July. This represents the lowest sales volume since March. Sales in the first two months of the year were lower than August due to reduced purchasing power following the government's registration fee incentives. Additionally, February included the Lunar New Year holiday.
In the first 8 months of 2025, VAMA and importers' cumulative sales reached over 220,700 vehicles, a nearly 17% increase compared to the same period last year. Meanwhile, Hyundai saw an 8% decrease, selling over 31,500 vehicles.
As VinFast has not released data from early 2024, its growth rate remains unclear. As of August, the Vietnamese automaker has sold nearly 90,000 vehicles, more than double that of its closest competitor, Toyota.
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A customer explores the VinFast VF 5 at an event in Ho Chi Minh City. Photo: Pham Trung |
A customer explores the VinFast VF 5 at an event in Ho Chi Minh City. Photo: Pham Trung
According to the sales manager of a Ford dealership in Ho Chi Minh City, the market slowdown in August was partly due to the last week of the month falling within the "ghost month" (the seventh month of the lunar calendar). The traditional avoidance of major purchases during this period impacted sales.
Most major market players, including VinFast, Toyota, Mitsubishi, Ford, and Kia, experienced declining sales in August compared to July. While Hyundai saw positive growth, this was primarily driven by commercial vehicles, while passenger car sales slightly decreased.
Promotions such as registration fee discounts and accessory bundles remain common tactics employed by manufacturers and dealerships to stimulate demand. Industry experts predict that these incentives will likely continue throughout the remaining 4 months of 2025 as companies accelerate sales to meet year-end targets. The absence of the annual auto exhibition in October may allow brands to redirect their event budgets towards promotions and boost sales.
Pham Trung
