Visitors at a car showroom in Hà Nội. VNA/VNS Photo

 HÀ NỘI — The Vietnam Automobile Manufacturers’ Association (VAMA) on February 11 reported that its member companies sold 36,875 vehicles in January, a surge of 95 per cent compared to the same period last year.

Analysts attributed the strong growth partly to a low-base effect. In January last year, the latter half of the month coincided with preparations for the Lunar New Year (Tết), when consumers typically limit spending on big-ticket items such as automobiles.

The recovery was seen across both domestic assembly and imports. Locally assembled completely knocked-down (CKD) vehicles reached 18,034 units, up 98 per cent year on year, while fully built-up (CBU) imports hit 18,841 units, rising 93 per cent. The near balance between the two channels reflects a revival in both domestic manufacturing and imported vehicle supply.

Ford Vietnam led VAMA brands with 5,121 units sold, followed closely by Mitsubishi with 5,039 and Toyota Vietnam with 4,852. Brands distributed by THACO completed the top five, with THACO Mazda reporting 3,515 units and THACO Kia 3,487. These brands benefited from strong portfolios in the SUV, crossover, MPV and pickup segments.

Among individual models, the Mazda CX-5 topped the chart with 2,104 units, followed by the Mitsubishi Xforce with 1,666 units. Ford maintained strong performance across its pickup and SUV range, including the Ranger with 1,520 units, the Territory with 1,545 and the Everest with 1,390.

The sales structure indicates a sustained consumer preference for high-ground-clearance vehicles offering spacious interiors suitable for family and multi-purpose use. The strong presence of Japanese and US brands among the leaders also reflects intensifying competition in Vietnam’s mid- to upper mass-market segments.

However, VAMA data covers only part of the overall market. Several non-member brands, including Audi, BYD, Jaguar Land Rover, Geely, GAC, Lynk & Co, Omoda & Jaecoo, Mercedes-Benz, Nissan, Subaru, Volkswagen and Volvo, do not disclose public sales figures. Hyundai Thành Công separately reported sales of 5,872 units on February 10, while VinFast, a key player in the electric vehicle segment, has yet to release its January data.

Nevertheless, the sharp year-on-year increase recorded by VAMA members points to improving market conditions, supported by more stable consumer confidence, rising travel and logistics demand, and a favourable economic environment.

Early data for 2026 suggest that while seasonal factors may affect monthly performance, the overall trend signals a market recovery, underpinned by last year’s low base and resilient domestic demand. VNA/VNS