In December 2024, Vietnam’s wholesale and retail, and repair of cars and motorbikes sector registered 102 new projects with US$39.81 million in newly registered capital, according to data from Vietnam’s Ministry of Planning and Investment. This represents a 1 percent increase in the number of new projects compared to November, which saw 101 new projects with US$368.11 million in newly registered capital.
In 2024, the sector attracted a total of 1,172 new projects with US$1.41 billion in newly registered capital.
Vietnam’s wholesale, retail, and repair sector for cars and motorbikes has seen robust growth, driven by rising incomes, urbanisation, and increasing consumer demand for vehicles. As one of the fastest-growing automotive and motorbike markets in Southeast Asia, Vietnam has become a key destination for domestic and foreign investment in this sector. This includes activities such as the import, distribution, sale, and servicing of cars and motorbikes.
Foreign direct investment (FDI) plays a critical role, with major global brands like Toyota, Honda, Yamaha, Ford, and Piaggio establishing manufacturing plants, distribution networks, and service centres across Vietnam. These companies have not only contributed to vehicle sales but also supported the development of local supply chains and after-sales services. The growth of e-commerce platforms has also impacted the retail side of the sector, enabling online sales of vehicles, parts, and accessories.
The government’s policies to promote the local automotive industry, including tax incentives and infrastructure development, have further attracted foreign investors. Vietnam’s shift toward electric vehicles (EVs) has opened new opportunities, with both domestic firms like VinFast and international players investing in EV production and distribution. As the sector continues to modernise and adapt to global trends, including green mobility, it is expected to play an increasingly important role in Vietnam’s economic landscape.
See also: Automotive Industry in Vietnam