The Department of International Trade Promotion (DITP), through its Office of Commercial Affairs in Hanoi, has reported promising signs of recovery in Vietnam’s automotive market during the early months of 2025, marked by rising auto sales and improving consumer confidence.

According to data from the Vietnam Automobile Manufacturers’ Association (VAMA), vehicle sales in April 2025 reached 29,585 units. While this represented a 7% dip compared to March, it reflected a 21% year-on-year increase, indicating a positive growth trajectory.

Passenger vehicles continued to dominate the market in April with 20,766 units sold, followed by commercial vehicles at 8,619 units. Notably, special-purpose vehicles saw an 11% month-on-month rise, with 200 units sold.

In terms of vehicle origin, imported Completely Built-Up (CBU) vehicles outperformed local assembly, recording a 7% month-on-month increase to 15,695 units, while domestically assembled vehicles fell 7% to 13,890 units.

Despite monthly fluctuations, cumulative sales for the first four months of 2025 tell a story of strong recovery:

• Total vehicle sales: 101,834 units (up 23% YoY)
• Passenger vehicles: up 22%
• Commercial vehicles: up 27%
• Multi-purpose vehicles: up 49%
• Imported vehicles: up 35%

Locally assembled vehicles: up 13%

This upward trend presents new opportunities for Thai automotive exporters, as Vietnamese consumers increasingly turn to high-quality imported vehicles amid the economic rebound.

Brand and Model Trends

Toyota led Vietnam’s automotive market in April with 5,566 units sold, followed by Ford (3,997), Mazda (2,736), Kia (2,055), and Mitsubishi (2,038). The best-selling models were the Mitsubishi Xpander, Ford Ranger, Toyota Vios, Ford Everest, and Toyota Yaris Cross.

SUVs were the most preferred segment, accounting for 5,867 units sold, followed by MPVs (3,798) and sedans (3,292). Pickup trucks and small vans topped the commercial vehicle category, reflecting ongoing demand in logistics and transportation.

Rise of Hybrid Vehicles

Hybrid vehicles are gaining momentum, with April 2025 sales reaching 973 units. In total, 3,535 hybrid vehicles were sold in the first four months, a year-on-year growth of 82%. This surge is driven by growing environmental awareness, government incentives, and reduced registration fees for eco-friendly models.

The Vietnamese automotive sector is expected to continue expanding throughout 2025, buoyed by economic recovery, rising consumer spending, new model launches, and a shift towards cleaner technologies such as electric and hybrid vehicles.

For Thai exporters, the current momentum creates significant opportunities in several areas:

• Completely Built-Up (CBU) vehicles
• Auto parts and components
• Accessories and vehicle customisation
• Automotive-related services such as maintenance, repair, and detailing

The DITP noted that Vietnam’s improving consumer sentiment and 23% growth in vehicle sales during the first four months of 2025 point toward a transformational phase. As the market matures and embraces sustainability, Thailand’s automotive sector is well-positioned to play a key role in Vietnam’s evolving mobility landscape.

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