The figures demonstrated the market's sustained positive momentum throughout Quarter 2, defying macroeconomic volatility and rising financial costs.
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Vietnam’s auto sales near 30,000 units in May (Photo for illustration: vnexpress.net) |
Of the vehicles sold, there were 20,014 passenger cars, 8,983 commercial units, and 213 special-purpose vehicles. While passenger car sales dipped 3.6% from the previous month, commercial vehicles surged 4% and specialized ones climbed 6%.
The domestic assembly versus import breakdown revealed 13,800 locally assembled vehicles, down 1% month-over-month, and 15,410 completely built-up imported units, declining 2%. Although the decreases were marginal, they highlight an evolving consumer preference pattern between domestic and imported vehicles.
Cumulative sales for the first five months of 2025 reached 104,780 vehicles across VAMA member companies, a year-on-year rise of 12%. Passenger cars grew by 7%, commercial vehicles by 20%, and specialized vehicles by 4%. Hybrid vehicles, however, saw the most dramatic rise, soaring 57% compared to the same period in 2024, underscoring a major market shift toward fuel-efficient and eco-friendly models.
While locally assembled cars grew 13%, imports jumped 29% compared to the previous year, reflecting the strong recovery in import activities while intensifying competitive pressure on domestic manufacturers.
VAMA expressed optimism that with macroeconomic stability and supporting policies, the market will continue to record strong growth momentum in the second half of the year, particularly in the passenger car and green vehicle segments.
Industry experts forecast total 2025 automobile sales could exceed 250,000 to 260,000 vehicles, representing approximately 10-12% growth over 2024. Sustainable segments including hybrid and fuel-efficient vehicles are expected to achieve growth rates of 40% or higher. They said the main drivers include improved income levels, a cooler interest rate environment, and the Government’s supporting policies for green vehicle development.
They held that Vietnam's automobile market will maintain its growth trajectory throughout the second half of the year on the back of stable economy and customers’ preference for efficient, economical, and safe vehicles.
Source: VNA