Car sales in july saw an increase of almost 12% compared to june. This figure consolidates sales data from the Vietnam Automobile Manufacturers' Association (VAMA), various import brands, VinFast, and Hyundai Thanh Cong.

This marks the first time since march that the car market's sales have rebounded. Ongoing demand stimulation efforts, such as price reductions and promotions from both manufacturers and dealerships, are seen as key factors in revitalizing consumer purchasing power before the market enters the traditionally slow "Ghost Month" (seventh lunar month).

At dealerships, car models rarely sell at their suggested retail price, often being tens to hundreds of millions of dong lower. An industry expert observed that the overall car supply currently outstrips demand, with the influx of new brands intensifying price competition. As a result, promotions are widespread, impacting nearly all manufacturers in the market.

While increased market competition and continuous price reductions greatly benefit customers, many dealerships report accepting lower profit margins on new car sales, or even losses, to boost liquidity and achieve sales targets. They aim to offset these short-term reductions with long-term revenue from vehicle maintenance and repairs.

The rebound in july's purchasing power also propelled the industry's cumulative sales to a new record. Since the start of 2026, the Vietnamese market has sold 387,849 vehicles, marking a 28.6% increase compared to the same period in 2025.

VinFast remains the primary driver of overall market growth. The Vietnamese automaker sold 137,697 vehicles over seven months, representing a 74.2% increase compared to the previous year. VinFast's growth rate is 2,5 times higher than the industry average.

Among VAMA member brands, most reported increased sales compared to the same period in 2025. However, Honda, Ford, and Peugeot saw declines of 3%, 6%, and 48%, respectively.

Customers browsing cars at a Toyota dealership in TP HCM, july 2026. Photo: Thanh Nhan.

Customers browsing cars at a Toyota dealership in TP HCM, july 2026. Photo: Thanh Nhan.

Hyundai's sales in july declined by 5,4% compared to june, yet its cumulative sales still registered a slight increase of 2,9%. The company recently introduced its new Tucson and Palisade hybrid models.

The reported figure of over 387,000 vehicles does not encompass sales from Chinese brands such as MG, BYD, Geely, Omoda, Jaecoo, Lynk & Co, nor from other manufacturers like Volkswagen, Audi, Volvo, and Porsche.

Thanh Nhan