Vietnam's automobile market continued to show signs of cooling in May, even as manufacturers and dealerships rolled out a series of aggressive discount campaigns aimed at stimulating demand.

The price of many used cars have dropped by tens of millions of VND, yet purchasing power remains weak. Sellers report that caution surrounding costs and changes in fuel usage continue to keep the market sluggish.

Vietnam imported more than 72,000 completely built-up vehicles in the first four months of 2026, with Chinese-made cars recording the fastest growth among major suppliers.

Vietnam faces a critical choice - streamline regulations or risk weakening its long-term automotive industry ambitions.

Vietnam’s automobile market recorded a notable slowdown in April despite aggressive discount campaigns and large-scale promotional offers from automakers and dealerships.

Vietnam’s automotive market continued to receive a strong supply of new vehicles in April, with domestically produced cars clearly outpacing imports.

Vietnam’s automobile market is witnessing a strong surge in hybrid vehicles, both in terms of quantity and quality, as more fuel-efficient and increasingly affordable models continue to enter the market.

On April 4, diesel prices climbed to VND44,780 per liter. With their large fuel tank capacities, many pickup trucks and diesel-powered cars in Vietnam now require VND2.4 million and nearly VND4 million for a full tank.

Under current regulations, most pickup trucks are classified as trucks and are restricted from circulating in the central areas of Hanoi.

After a sluggish Lunar New Year period, Vietnam’s auto market roared back in March, with sales jumping sharply across major brands.

The reclassification of pickup trucks as trucks under Circular 53/2024/TT-BGTVT, which has led to restrictions on entering inner-city areas, is affecting both new and used pickup markets.

Once seen as a two-in-one choice for many Vietnamese - stylish for city driving yet practical for carrying goods - pickup trucks have enjoyed nearly a decade of strong growth in the domestic market. However, the situation may now be changing.

Vietnam’s automobile market recorded its strongest supply growth since the beginning of the year in March, with locally produced vehicles continuing to outnumber imports.

The year 2026 may mark a turning point for Vietnam’s electric vehicle market, as affordable models are no longer a rarity and are increasingly capturing consumer interest, especially amid rising fuel prices.

According to newly released data from the General Department of Customs under the Ministry of Finance, in February 2026 alone, Vietnam imported 16,216 CBU vehicles worth more than US$359 million.

The use of hybrid vehicles, especially PHEVs, is surging worldwide due to their fuel efficiency.

Tightened registration regulations have caused the used car market to turn quiet. Many dealers report a decrease in the number of customers as buyers become more hesitant due to concerns over emission inspection risks.

Members of the Vietnam Automobile Manufacturers’ Association (VAMA) sold just 19,278 vehicles in February 2026, a drop of 48% compared with the previous month. VinFast and Hyundai also recorded significant declines during the Tet holiday period.

Vietnam’s automobile market enters 2026 with strong growth momentum, fueled by electrification, competitive pricing and the expansion of new brands.