Vietnam’s automotive market ranked as the second‑fastest growing market in ASEAN‑6, according to a report by PwC Vietnam on April 20.
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The Autofacts Market Update – March 2026 report provides an up‑to‑date view of key developments, forecasts and insights shaping the global automotive industry, with coverage across the Europe, ASEAN‑6, China and the US. ASEAN-6 comprises Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
Among them, Vietnam’s automotive market recorded 20.3 per cent sales growth in 2025. This momentum stands against a more uneven regional backdrop, where growth remains under pressure from macroeconomic volatility and shifting trade dynamics.
Vietnam’s total industry volume growth was led by VinFast (up 88,000 units), underpinned by strong GDP growth (up 8.02 per cent) and rising GDP per capita (approximately $5,026), which made entry-level four-wheelers affordable for more households.
Sport utility vehicles take the lead in the Vietnamese market, representing 73 per cent in 2025, followed by sedan and hatchback (16 per cent) and multi-purpose vehicles (6 per cent).
VinFast continues to dominate the market with models VF3 and VF5, priced between $12,000-$22,000. The country offers 100 per cent registration fee exemption for electric vehicles through February 2027.
In addition, the Vietnamese carmaker also emerges as one of top 15 automotive brands in ASEAN-6 last year. The VF3 and VF5 continue to lead domestic sales in Vietnam, with exports to Indonesia and the Philippines starting in 2025.
The report also highlights how geopolitics has become a structural force – reshaping automotive cost structures, production decisions and market access strategies worldwide. This includes the impact of the Iran war and shifts in the market capitalisation of leading global original equipment manufacturers.
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