Vietnam imported motor vehicles to the tune of US$385 million in January, down from US$406 million in December, a change of -5.21 percent, according to preliminary data from Vietnam’s General Department of Customs.
Year to date, Vietnam had imported US$385 million worth of motor vehicles by the end of January.
China accounted for US$222 million worth of Vietnam’s motor vehicle imports in January. This was up from US$151 million in motor vehicle imports in December, a change of 46.96 percent. Year to date, China has shipped US$222 million worth of motor vehicles to Vietnam.
After China was Thailand making up US$62 million worth of Vietnam’s motor vehicles imports in January. This was down from US$86 million in motor vehicle imports in December, a change of 27.41 percent. Year to date, Thailand has shipped US$62 million worth of motor vehicles to Vietnam.
Next was Indonesia, contributing US$57 million worth of Vietnam’s motor vehicles imports in January. This was down from US$79 million in motor vehicle imports in December, a change of 27.03 percent. Year to date, Indonesia has shipped US$57 million worth of motor vehicles to Vietnam.
Following Indonesia was Japan, representing US$14 million worth of Vietnam’s motor vehicles imports in January. This was down from US$27 million in motor vehicle imports in December, a change of 50.16 percent. Year to date, Japan has shipped US$14 million worth of motor vehicles to Vietnam.
Rounding out the top five was Germany, constituting US$7 million worth of Vietnam’s motor vehicle imports in January. This was up from US$ million in motor vehicles imports in December, a change of 2445.65 percent. Year to date, Germany has shipped US$7 million worth of motor vehicles to Vietnam.
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Listed automotive companies
Key automotive firms listed on the Vietnam stock exchange include:
Do Thanh Technology Corporation
Do Thanh Technology Corporation (DTT) manufactures automotive parts, plastic products, and mechanical components.
DTT closed at VND 17,950 on Friday, down 0 percent with 0 shares traded, worth VND 0 million.
Foreign ownership in DTT is currently capped at 49.0 percent, with current foreign ownership sitting at 0.2 percent.
Dry Cell and Storage Battery JSC
Dry Cell and Storage Battery JSC (PAC) produces automotive and industrial batteries under the PINACO brand.
PAC closed at VND 22,700 on Friday, up 0.3 percent with 1,111,000 shares traded, worth VND 2,499 million.
Foreign ownership in PAC is currently capped at 50.0 percent, with current foreign ownership sitting at 11.9 percent.
Vingroup JSC
Vingroup JSC (VIC) is Vietnam’s largest private conglomerate, operating in real estate, automotive (VinFast), healthcare, and education.
VIC closed at VND 160,000 on Friday, up 1 percent with 54,362,000 shares traded, worth VND 869,283 million.
Foreign ownership in VIC is currently capped at 96.4 percent, with current foreign ownership sitting at 5.6 percent.
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Vietnam automotive news
Recent developments include:
Automotive partnership VN-CN
Vietnam’s Kim Long Motor and China’s AOJ Suzhou signed a strategic cooperation agreement in Ho Chi Minh City on 14 February to jointly develop commercial vehicles and passenger platforms.
AOJ Suzhou will provide product planning, design, technical development, supply chain integration, testing and mass production support, while Kim Long Motor contributes manufacturing capacity and distribution networks in Vietnam.
The partnership targets buses, vans, trucks and all aluminium passenger vehicle platforms.
Mercedes-Benz Vietnam investment offer
Tasco Auto has proposed acquiring a 70 percent stake in Mercedes-Benz Vietnam, the operator of the Mercedes-Benz assembly plant in Go Vap, according to the Ho Chi Minh City government portal.
Mercedes-Benz Vietnam is a joint venture between Saigon Transportation Mechanical Corporation and Mercedes-Benz Group AG, operating on leased land that has been extended to April 2030 under conditions requiring eventual relocation without compensation.
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Vietnam’s automotive industry
Vietnam’s automotive industry has developed around a mix of foreign assemblers and domestic champions, serving a fast-growing consumer market of more than 100 million people.
Major global brands such as Toyota Motor Corporation, Honda Motor Co. and Ford Motor Company operate assembly plants in Vietnam, while local conglomerate Vingroup has entered the segment through its electric vehicle arm VinFast.
The sector remains heavily reliant on imported components, with localisation rates lower than regional manufacturing hubs such as Thailand and Indonesia.
Government policy has focused on expanding supporting industries, encouraging electric vehicle adoption, and using trade agreements to position Vietnam as a potential regional production base.
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The data
Vietnam imports of motor vehicles in January, US$m
| January | December | MoM | YTD | |
| Total | 385.20 | 406.39 | -5.21% | 385.20 |
| Other | 14.62 | 18.80 | -22.21% | 14.62 |
| China | 221.93 | 151.01 | 46.96% | 221.93 |
| Thailand | 62.20 | 85.70 | -27.41% | 62.20 |
| Indonesia | 57.36 | 78.61 | -27.03% | 57.36 |
| Japan | 13.62 | 27.32 | -50.16% | 13.62 |
| Germany | 7.18 | 0.28 | 2445.65% | 7.18 |
| Russia | 4.63 | 32.57 | -85.77% | 4.63 |
| Austria | 1.25 | 1.21 | 3.19% | 1.25 |
| UK | 0.94 | 0.29 | 223.40% | 0.94 |
| India | 0.66 | 0.32 | 103.16% | 0.66 |
| South Korea | 0.45 | 4.80 | -90.52% | 0.45 |
| USA | 0.27 | 5.48 | -95.11% | 0.27 |
| France | 0.08 | 0.00 | 0.00% | 0.08 |