HÀ NỘI — The Vietnam Automobile Manufacturers Association (VAMA) reported its members’ total sales of 29,210 vehicles in May, marking a modest one per cent decline from April but a robust 13 per cent increase compared to the same month last year.

The figures demonstrated the market's sustained positive momentum throughout the second quarter, defying macroeconomic volatility and rising financial costs.

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 per cent from the previous month, commercial vehicles surged 4 per cent and specialised ones climbed 6 per cent.

There were 13,800 locally assembled cars (down 1 per cent from last month) and 15,410 imported ones (down 2 per cent). Though small, these drops show changing consumer preferences between local 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 per cent. Passenger cars grew by 7 per cent, commercial vehicles by 20 per cent, and specialised vehicles by 4 per cent.

Hybrid vehicles, however, saw the most dramatic rise, soaring 57 per cent 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 per cent, imports jumped 29 per cent 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 per cent growth over 2024. Sustainable segments including hybrid and fuel-efficient vehicles are expected to achieve growth rates of 40 per cent or higher.

The main drivers include improved income levels, a cooler interest rate environment, and the Government’s supporting policies for green vehicle development.

Việt Nam's automobile market is expected to 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. — VNS