Vietnam's automotive market recorded a cyclical slowdown in October 2026 following a period of strong recovery. According to market-wide data compiled by the Vietnam Automobile Manufacturers' Association (VAMA), excluding VinFast and TC Motor, total vehicle sales reached 28,957 units during the month, down 17% from September 2026 and 24% compared to October 2025.
By vehicle category, the market consisted of 20,715 passenger cars, 9,698 commercial vehicles, and 544 special-purpose vehicles. Passenger-car sales fell 16% month-on-month, while commercial vehicles and special-purpose vehicles declined 22% and 14%, respectively.
A closer look at sales reported by VAMA members shows total deliveries of 22,806 vehicles in October, representing a 13% decline from September and a 28% decrease year-on-year. Passenger-car sales among VAMA members reached 15,173 units, down 13% from the previous month, while commercial-vehicle sales totaled 5,735 units, also falling 13%.
The across-the-board decline reflects consumers' cautious purchasing sentiment during the seasonal transition period, while automakers prepare to launch major sales campaigns ahead of the year-end peak season.
Imported vehicles maintain strong momentum
The contrast between domestic production and imported vehicles remained a notable feature of the market in October 2026.
Sales of locally assembled vehicles reached 12,753 units, down 7% from the previous month, while completely built-up (CBU) imported vehicles totaled 16,204 units, a 24% decline month-on-month.
However, looking at the first ten months of 2026 as a whole, the supply structure reveals a clear shift toward imported vehicles.
The strong growth of imported models reflects increasingly diverse consumer preferences for new products from regional and international markets. This trend has intensified competition while also encouraging domestic manufacturers to continuously improve product quality and optimize production costs.
EVs drive long-term growth
Although October saw a short-term correction, the performance of the Vietnamese automotive market during the first ten months of 2026 highlights the sector's underlying strength.
Electrified vehicles (EVs) remained the primary growth driver, reflecting the rapid spread of green consumer trends. According to VAMA, hybrid vehicle sales reached 1,891 units in October, bringing cumulative sales for the first ten months of the year to 17,948 units, a remarkable 61% increase from 11,182 units during the same period last year.
Meanwhile, the battery electric vehicle (BEV) segment among VAMA members recorded 89 cumulative units, representing a 324% increase from 21 units in the corresponding period of the previous year.
Entering the final two months of 2026, Vietnam's automotive market is expected to move into its strongest growth phase of the year.
A combination of financial incentives, large-scale promotional programs, and an increasingly diverse supply of hybrid and electric vehicles is expected to act as key catalysts for growth.
Supported by the solid foundation built over the past ten months and improving performance across nationwide dealership networks, Vietnam's automotive industry appears well-positioned to achieve significant gains in the months ahead.
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