Auto market slows in October as EVs continue to gain momentum

Detailed summary

According to market-wide data compiled by the Vietnam Automobile Manufacturers' Association (VAMA), excluding VinFast and TC Motor, total vehicle sales reach...

Vietnam's automotive market recorded a cyclical slowdown in October 2026 following a period of strong recovery. According to market-wide data compiled by the Vietnam Automobile Manufacturers' Association (VAMA), excluding VinFast and TC Motor, total vehicle sales reached 28,957 units during the month, down 17% from September 2026 and 24% compared to October 2025.

By vehicle category, the market consisted of 20,715 passenger cars, 9,698 commercial vehicles, and 544 special-purpose vehicles. Passenger-car sales fell 16% month-on-month, while commercial vehicles and special-purpose vehicles declined 22% and 14%, respectively.

A closer look at sales reported by VAMA members shows total deliveries of 22,806 vehicles in October, representing a 13% decline from September and a 28% decrease year-on-year. Passenger-car sales among VAMA members reached 15,173 units, down 13% from the previous month, while commercial-vehicle sales totaled 5,735 units, also falling 13%.

The across-the-board decline reflects consumers' cautious purchasing sentiment during the seasonal transition period, while automakers prepare to launch major sales campaigns ahead of the year-end peak season.

The contrast between domestic production and imported vehicles remained a notable feature of the market in October 2026.

Sales of locally assembled vehicles reached 12,753 units, down 7% from the previous month, while completely built-up (CBU) imported vehicles totaled 16,204 units, a 24% decline month-on-month.

However, looking at the first ten months of 2026 as a whole, the supply structure reveals a clear shift toward imported vehicles.

The strong growth of imported models reflects increasingly diverse consumer preferences for new products from regional and international markets. This trend has intensified competition while also encouraging domestic manufacturers to continuously improve product quality and optimize production costs.

Although October saw a short-term correction, the performance of the…

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