According to statistics from the General Department of Vietnam Customs, in January 2025, Vietnam imported 7,226 completely built-up (CBU) automobiles, equivalent to a trade value of 163 million USD. Compared to the same period last year, the import of automobiles into Vietnam increased by 7.7% in volume and 17% in value. In contrast, when compared to December 2024 (over 12,880 units), the number of vehicles imported into Vietnam in the first month of the new year was significantly lower.
Indonesia was the leading exporter of automobiles to Vietnam in January 2025, with 2,621 units, equivalent to a trade value of 38 million USD. Compared to the same period last year (2,647 units, 35.3 million USD), imports from Indonesia slightly decreased in volume but increased in value. This indicates that the automobiles imported into Vietnam from Indonesia were higher-priced compared to January 2024.
Currently, there are several CBU models imported from Indonesia that are sold in Vietnam, such as the Mitsubishi Xpander, Mitsubishi Xforce, Toyota Wigo, Toyota Yaris Cross, Toyota Innova Cross, and Hyundai Stargazer. Among these, the Mitsubishi duo has been performing very well in terms of sales.
Closely following Indonesia is China. January 2025 witnessed the rise of China, surpassing Thailand to become the second-largest exporter of automobiles to Vietnam. Specifically, in the past month, 2,595 automobiles were imported from China into Vietnam, reaching a trade value of 72.7 million USD. The volume of imports from China increased by 37.66% in quantity and 60.3% in value compared to the same period in 2024.
Although lower in quantity, the value of automobiles imported from China to Vietnam in January 2025 was double that of imports from Indonesia. This is not surprising, as vehicles imported from Indonesia are mainly affordable, economical cars.
China surpassing Thailand in terms of automobile imports into Vietnam was also an expected development. In recent times, several Chinese automobile brands have entered the Vietnamese market, including BYD, Lynk & Co, Haima, GAC, Aion, and Wuling, to name a few.
Thailand dropped to the third position in terms of automobile exports to Vietnam in January 2025, with 1,631 units, reaching a trade value of 32.5 million USD. Compared to the same period last year (1,858 units and 35.79 million USD), imports from Thailand slightly decreased in both volume and value. Currently, popular models imported from Thailand and consumed by Vietnamese customers include the Toyota Camry, Honda HR-V, Honda Civic, and Toyota Corolla Cross, among others.
Meanwhile, the import value of automobile parts and components in January 2025 exceeded 373.1 million USD.
Vietnam’s General Statistics Office estimates that the total production and assembly of automobiles in Vietnam, along with imports, will reach approximately 40,888 units in the first month of 2025, a 20.7% decrease compared to the previous month. SSI Research, a research company, had also previously forecasted that the Vietnamese automobile market would enter a phase of slow growth in 2025.
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