In the first half of 2026, Vietnam's automotive industry saw a remarkable surge in sales, totaling 328,818 vehicles. This figure represents a 29.3% increase compared to the same period in 2025, driven largely by the strong performance of local manufacturer VinFast.

According to data from the Vietnam Automobile Manufacturers Association (VAMA) and various importers, VinFast sold 115,916 vehicles, contributing significantly to the overall growth. The company’s sales increased by 72.8% year-on-year, outpacing the industry average, while other members of VAMA and importers saw a more modest increase of 15.2%. Hyundai also reported a slight recovery, with a 3.6% increase in sales after a decline in 2025.

VinFast's success is noteworthy as it exclusively sells electric vehicles, aligning with the growing trend towards electric mobility in the Vietnamese market. The company achieved record sales in the first half of 2026, marking its best performance since its establishment and setting a new benchmark for the industry as a whole.

Despite the overall increase in sales, recent months have shown a downward trend in the automotive market. June marked the third consecutive month of declining sales following a peak in March. VinFast also reported a decrease, selling 17,955 vehicles in June, which is about 8% less than in May. The introduction of new models has invigorated the market, but supply issues and consumer hesitation have tempered sales growth.

Factors such as tighter consumer spending due to economic fluctuations and stricter lending policies from banks have contributed to this slowdown. The market is currently experiencing a wave of discounts and promotional offers as manufacturers seek to boost sales amidst these challenges.

On a positive note, public investments aimed at expanding infrastructure have led to a significant increase in commercial vehicle sales, with VAMA members reporting 59,796 units sold, a 28% increase from the previous year. In contrast, passenger vehicle sales reached 124,809 units, reflecting a more modest growth of approximately 9%.