Vietnam’s automobile market maintains its growth momentum thanks to:

• The rising proportion of the middle class in Vietnam and the increasing trend of car usage.
• The continued high preference for private vehicles.
• Favorable policies creating conditions for individuals to own cars: reduced import tariffs (through free trade agreements); preferential registration fee policies (non-periodic); incentives for battery electric vehicles (BEVs).
• The participation of brands and new products offering more choices and competitive pricing.
• However, in the short term, the market faces certain challenges, particularly in the luxury segment.

(EN) GTJASVN RS_VIETNAM AUTO AND MOTOR SECTOR_POLICY AND CONSUMER TREND LEVERAGE_AUG 2025