Vietnam’s Automobile Sales by Segment in 2022

Vietnam’s vehicle sales increased 20.6% year-on-year to 462,569 units in 2022 (combined vehicle sales data of VAMA members and two non-members Hyundai Motor’s local subsidiary Hyundai Thanh Cong Vietnam (HTCV) and local automaker VinFast, sales exceeding 400,000 units for the first time, setting a record high. This increase is due to the booming economy (annual GDP growth rate of 8.02%) and a 50% reduction in registration fees for CKD vehicles. Passenger car sales rose slightly, going up 0.8% year-on-year. On the other hand, sales of SUVs ascended 32.0% to 155,856 units, and MPVs skyrocketed 2.3 times to 61,977 units.