Automotive Market in Vietnam

Vietnam's automotive market is a rapidly growing sector in Southeast Asia. While motorbikes remain the dominant mode of transportation, car sales have been on the rise in recent years, fueled by a growing middle class and increasing urbanization.

Overview

Vietnam's traffic scene is a sea of motorbikes, but the car market is quietly growing under the hood. Its car sales are on an upward trajectory. Due to a developing domestic industry and a preference for affordable cars, the Vietnamese market relies heavily on imported vehicles, particularly Japanese and Korean brands.

However, the market is shifting gears with a growing buzz around electric vehicles. The government is pushing for a greener future with EV incentives and infrastructure investments, to have one million EVs on the road by 2028.

Popular Car Brands

Based on the latest February 2024 data from MarkLines, Toyota, Ford, Thaco Kia, and Thaco Mazda are currently leading the pack in the Vietnamese market. Thaco is a Vietnamese conglomerate that assembles and distributes cars from multiple brands, including Kia and Mazda. So, "Thaco Kia" and "Thaco Mazda" represent combined sales figures for those specific brands under Thaco.

Auto Shows in Vietnam

There are several significant auto shows and relevant trade shows in Vietnam, including:

• Vietnam Motor Show: A show typically held in the last quarter of the year.
• Vietnam AutoExpo: A show that covers the entire automotive industry, including vehicles, parts, and services.
• Automechanika Ho Chi Minh City: This show focuses on the automotive parts, repair, and maintenance sectors.
• Saigon Autotech & Accessories Show: A show with a wide range of automotive accessories and parts.

Overall, Vietnam's automotive market is on track to become a significant player in Southeast Asia, driven by the EV revolution and a growing domestic industry. With an increasing population and a focus on sustainability, Vietnam's automotive market is poised for an exciting ride ahead.

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