Vietnam’s automotive sector continues to thrive, with the Vietnam Automobile Manufacturers’ Association, or VAMA, reporting a 7 percent year-over-year increase in total vehicle sales in October. A total of 35,114 vehicles were sold, bringing the year-to-date total to 228,968 units.
Passenger cars led the market, with October sales hitting 26,453 units—up 4 percent from the same month last year. This category remains the backbone of Vietnam’s automotive industry, with year-to-date sales reaching 169,363 units. The steady growth highlights a consistent demand for personal vehicles among Vietnamese consumers.
Hybrid vehicles also showed promising numbers, recording 1,420 units sold in October. Though the data lacks a year-over-year comparison, the year-to-date total stands at 7,072 units, indicating a rising interest in eco-friendly options among Vietnamese buyers.
The bus segment experienced the largest growth, surging by 32 percent year-over-year with October sales of 922 units. Year-to-date figures reached 6,466 units. In contrast, sales of special-purpose vehicles fell by 12 percent compared to last October, with only 111 units sold.
Truck sales remained stable with no change from October 2023, reflecting steady demand in Vietnam’s logistics and construction sectors. October’s truck sales totaled 6,208 units, contributing to a year-to-date total of 45,261 units.
The latest data from VAMA underscores a strong performance for Vietnam’s car market in 2024, however, it should be noted that VAMA data only covers members that choose to report their sales. A number of key car makers in Vietnam are excluded from this data for example.
See also: What’s Going On with Vietnam’s Car Market in 2024?