Vietnam’s auto market in early 2026

Sales data for February and the cumulative results for the first two months of the year indicate that the familiar market structure remains intact, with VinFast continuing to firmly hold the leading position.

Entering 2026, Vietnam’s automotive market has shown encouraging signs of recovery following a period of slowdown, albeit with uneven growth across different brands.

In February 2026, VinFast recorded sales of 9,903 units, accounting for 30.7% of total market share. Although this represents a year-on-year decline of 20.8%, the contraction has not materially affected its market leadership, as the gap with competitors remains substantial.

Cumulatively, in the first two months of the year, VinFast sold 26,075 vehicles, capturing a 28.6% market share and posting a 25.4% increase compared to the same period in 2025. This performance underscores the company’s ability to sustain stable long-term growth despite short-term monthly fluctuations.

Ranked immediately behind VinFast in February was Toyota, with 3,890 units sold, equivalent to a 12.1% market share, marking a notable year-on-year growth of 24.9%. This increase reflects a clear improvement in consumer demand.

On a year-to-date basis, Toyota recorded 8,742 units sold (up 35.3%), accounting for 9.6% of market share. While the company has yet to secure the second position overall in 2026, it has demonstrated strong recovery momentum and enhanced competitiveness going forward.

Following Toyota is a relatively balanced competition among Korean and American brands. Specifically, Hyundai reported 3,080 units sold in February (up 1.9%), bringing its cumulative total to 8,952 units, a significant increase of 46.9%.

Thaco-Kia posted 3,133 units in February, down 21.1% year-on-year. However, its cumulative sales still reached 8,621 units (up 26.3%), indicating relative stability. Ford sold 2,473 units in February (down 10.3%), but its cumulative volume reached 7,594 units, reflecting a strong growth rate of 45.8%.

In the near term, VinFast’s leading position is expected to remain firmly intact given the substantial sales gap with the rest of the market. However, competition within the trailing group is projected to intensify, particularly among Toyota, Hyundai, and Kia.

According to CarTimes

Source