Record-Breaking Sales in Vietnam's Auto Market

The Vietnam Automobile Manufacturers Association (VAMA) reported a significant uptick in vehicle sales for March, with a total of 31,750 units sold, marking a 47% increase from the previous month. This surge is attributed to a combination of factors, including consumer trends and manufacturer policies.

Segment Performance Highlights

Passenger vehicles led the growth with 22,339 units sold, a 53% increase from February. Commercial vehicles followed with 9,231 units, up by 36%, while special-purpose vehicles saw a decline, totaling only 180 units.

Imports vs. Domestic Assemblies

A notable trend was the 60% increase in completely built-up (CBU) imports, reaching 16,863 units. Domestically assembled vehicles also experienced growth, with 14,887 units sold, a 35% rise.

First Quarter Overview

VAMA members sold 72,249 vehicles in Q1, a 24% increase year-over-year. This growth was seen across all segments, with special-purpose vehicles surging by 104%.

Market Leaders and Best-Selling Models

Toyota maintained its lead with 5,370 units sold in March. The Mitsubishi Xpander, Ford Ranger, and Toyota Vios were among the top-performing models.

Future Outlook

With consumer demand rising and the market diversifying towards fuel-efficient and electric vehicles, Vietnam's auto market is expected to continue its growth trajectory. Experts predict a 10-15% increase in total sales for 2025 compared to 2024.