The Vietnam Automobile Manufacturers’ Association (VAMA) announced on the afternoon of March 10 that total vehicle sales by its member companies reached 19,278 units in February, marking a sharp 48% decline compared with the previous month.
Of the total sales, passenger cars accounted for the largest share with 12,376 units, down 53% month-on-month. Commercial vehicles followed with 6,542 units, a decrease of 37%, while 360 specialised vehicles were sold, down 22% from the previous month.
Sales of domestically assembled vehicles hit 9,220 units, marking a 49% drop from January. Imported, fully built vehicles sold 10,058 units, down 47%. These numbers show that the decline affected both local and imported vehicle segments.
Despite the sharp fall, the market maintained positive growth during the first two months. According to VAMA, total market sales by the end of February reached 46,153 units, up 39% compared with the same period last year.
Specifically, the passenger car segment rose by 34% year-on-year, suggesting continued growth in demand for private vehicles. Sales of commercial vehicles increased by 51%, reflecting a strong recovery in transport and logistics demand alongside broader economic expansion.
Hybrid vehicle sales also recorded notable growth. In January and February, this segment reached 1,982 units, an increase of 19% compared with the same period last year. The trend towards fuel-efficient and environmentally friendly vehicles is becoming increasingly evident in the Vietnamese market.
In the first two months of the year, sales of domestically assembled vehicles jumped 35% compared to last year, while imported vehicle sales climbed 42%. This points to growing competition between local and imported models and signals a boost in market demand.
Experts note, however, that the figures do not fully reflect the overall state of Vietnam’s automobile market, as several brands outside VAMA do not disclose their sales results.
According to VAMA’s assessment, although February sales declined due to seasonal factors, the outlook for Vietnam’s automobile market this year remains positive. Economic recovery, rising mobility demand, and the introduction of numerous new models are expected to continue supporting growth in the automotive sector in the coming months.
