Entering Q2 of 2025, the Vietnamese automotive market witnessed a slowdown after a strong acceleration in March.
According to consolidated data from the Vietnam Automobile Manufacturers’ Association (VAMA), TC Group (distributor of Hyundai), and VinFast, the total market sales in April reached 43,643 units, an 11% decrease compared to the previous month (49,218 units).
This decline is attributed to weakening consumer demand after the peak period at the beginning of the year, coupled with the absence of attractive car purchase promotions from manufacturers in April.
In this somewhat gloomy picture, Toyota and Mazda stood out as rare bright spots, with notable growth. Specifically, Toyota recorded a 4% increase compared to the previous month and a 24% surge year-over-year, selling 5,566 vehicles. Mazda performed even better, with a 17% month-over-month increase and a 27% year-over-year rise, reflecting stable demand in the mass-market segment.
Despite a decrease compared to the previous month, VinFast maintained its leading position in the overall market with 9,588 vehicles sold in April. This success is mainly attributed to the VF 3 and VF 5 mini electric car models, which are popular among urban consumers due to their affordable prices and low operating costs.
Toyota remained the top-selling brand within the VAMA membership, while Hyundai secured its position in the top 3 with nearly 4,500 vehicles sold. Ford, Mazda, Honda, and Kia followed suit, each claiming a spot in the leading group in terms of market share.
The combined sales of VinFast, Toyota, and Hyundai accounted for more than 50% of the total Vietnamese automotive market in April 2025.
In May, the market is expected to continue fluctuating as VinFast launches a nationwide promotion, offering a 4% discount on all models from May 22nd. This aggressive move aims to stimulate demand after the market slowdown. Meanwhile, other automakers have not announced significant promotions, which could lead to a slight decrease in sales in the coming month.
Although the decline in April was not significant, it serves as a warning signal to automakers about the changing consumer trends. Manufacturers need to adjust their marketing strategies, product pricing, and after-sales policies to retain customers in an increasingly competitive market, where consumers are becoming more cautious in their car-buying decisions.
TH (Tuoitrethudo)
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