According to a report released on June 9 by the Vietnam Automobile Manufacturers' Association (VAMA), total vehicle sales across the Vietnamese market, including imported vehicles sold by non-VAMA members, reached 29,935 units in May 2026. The figure represented a 6% decline from April, although it was still 6% higher than in May 2025.

Of the total, passenger vehicle sales reached 19,182 units, down 10% from the previous month. Commercial vehicle sales rose 5% to 10,288 units, while sales of specialized vehicles fell sharply by 45% to 465 units.

VAMA members report slight decline

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Sales volumes reported by VAMA members continued to decline slightly in May. Source: VAMA

Among VAMA member companies alone, total sales reached 24,136 vehicles in May, down 1.4% from 24,479 units in April. However, the figure was still 6.5% higher than the same period last year.

Passenger vehicle sales among VAMA members totaled 15,968 units, down 2% month-on-month. Commercial vehicle sales climbed 8% to 6,483 units, while truck sales, including pickup trucks, rose 11.3% to 5,950 units.

One notable bright spot was the hybrid segment. Sales of hybrid vehicles reached 1,670 units in May, marking a significant 59% increase compared with the previous month.

Imported vehicles continue to lead

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Imported vehicles continued to outsell locally assembled models among VAMA members. Source: VAMA

Across the broader market, including VAMA members and independent importers, sales of locally assembled vehicles totaled 13,080 units in May, while completely built-up imported vehicles reached 16,855 units.

Both categories declined 6% compared with April. Nevertheless, imported vehicles continued to account for a larger share of the market and maintained their advantage over domestically assembled models during the first months of 2026.

Cumulative sales from January through May reached 156,729 vehicles, representing growth of approximately 22% compared with the same period in 2025.

During the five-month period, sales of locally assembled vehicles increased by 11%, while imported vehicle sales surged by 27%.

Consumer demand remains cautious

The latest figures suggest that demand among Vietnamese consumers, particularly for gasoline-powered vehicles, has softened somewhat despite the extensive promotional campaigns introduced by manufacturers and dealers.

However, the VAMA data does not provide a complete picture of Vietnam's automotive market. Two major players, VinFast and Hyundai, report sales separately and are not included in VAMA's monthly industry totals.

As a result, overall market performance could differ once sales figures from those brands are taken into account.

Hoang Hiep