According to a recent report by the General Statistics Office (Ministry of Finance), Vietnam’s automotive market saw the addition of approximately 76,186 new vehicles in December 2025. This figure includes both domestically produced and fully imported vehicles, marking a 12.8% increase compared to November 2025 (67,550 vehicles).
Of this total, the domestic production and assembly of vehicles in December 2025 reached an estimated 60,700 units, a significant 23.4% rise from the previous month and a remarkable 57.5% increase compared to December 2024. This represents the highest monthly production volume ever recorded in Vietnam’s automotive industry, highlighting domestic manufacturers’ efforts to boost capacity in response to year-end consumer demand.
Domestic vehicle production in 2025 reached an all-time high. Photo: VinFast
For the entire year of 2025, domestic manufacturers are estimated to have produced and assembled around 484,500 vehicles, a 39.1% increase compared to 2024. This is also the highest annual production volume ever recorded.
In the imported vehicle segment, approximately 15,486 foreign cars were brought into Vietnam in December 2025, with a total value of about $406 million. Compared to November 2025 (18,350 vehicles, valued at $455 million), imported vehicle volume decreased by 15.6%, and value dropped by 10.7%. However, compared to December 2024, imported vehicles still saw a 21.1% increase in volume and a 35.2% rise in value.
For the full year of 2025, Vietnam is estimated to have imported 206,628 fully assembled vehicles, with a total value of approximately $4.737 billion, representing a 19.1% increase in volume and a 31.1% increase in value compared to 2024.
Thus, the total supply of new vehicles to the market in 2025 is estimated to exceed 691,000 units. However, market sales up to November only reached over 520,000 units (combined data from VAMA, VinFast, and Hyundai Thanh Cong).
If December maintains the same sales level as November at around 68,000 units, the total market consumption for 2025 is estimated to reach approximately 590,000 vehicles. This figure still falls short of the supply by about 100,000 units, which represents the surplus inventory awaiting sale.
Not only are there surplus vehicles produced in 2025 (VIN2025), but the market is also carrying over inventory from VIN2024 and even earlier years. For example, some dealerships for Honda, Subaru, Suzuki, Mazda, and MG are still selling VIN2024 models, albeit in limited quantities.
Many dealerships are still offering the Honda Civic hybrid VIN2024 model. Photo: Dealership.
This indicates that Vietnam’s automotive market is in a state of oversupply, with accumulated inventory from multiple years. Older stock remains unsold while new vehicles continue to be added, forcing manufacturers to maintain promotions to clear inventory.
As a result, many vehicle models are being sold at significantly lower prices than their listed values, sometimes even dropping to the level of lower segments. This directly benefits consumers, offering a wide range of choices and numerous discounts from the ongoing price war.
In fact, as the new year began, mainstream brands like Toyota, Honda, Mitsubishi, Mazda, and Ford quickly joined the promotional race to attract consumers. This trend is expected to continue at least until the Lunar New Year, a period when purchasing power typically declines across all segments.
Overall, the abundant supply and reduced prices due to promotional programs create favorable conditions to boost vehicle sales from the beginning of the year.
