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| VinFast electric car display booth. Photo: Tran Viet/VNA |
Car discounts "cover" the whole market
The slow purchasing power has made the auto market in the first half of 2025 the most exciting price reduction "front" in many years. There is almost no month when car manufacturers and dealers do not launch big promotions such as: 50 - 100% reduction in registration fees, free accessories, physical insurance, or direct reductions of tens to hundreds of millions of VND per car.
From popular car lines such as Toyota Vios, Hyundai Accent to luxury cars such as Mercedes-Benz, BMW, incentives are continuously implemented. This partly reflects the pressure of prolonged inventory, as well as increasingly fierce competition from imported cars, especially cars from China.
Along with that, the market also welcomed the launch of more than 30 new car models in the first half of the year, from popular to high-end. Notable among these are Chinese brands such as BYD, Chery, Lynk & Co, Omoda, Jaecoo, Wuling..., focusing heavily on electric vehicles. Not only attracting attention with modern designs, Chinese cars also conquer consumers thanks to competitive prices and smart technology - factors that used to be the unique advantages of Japanese, Korean or European brands.
In that general context, although there is no complete data from the whole industry, some big names have started to announce positive business results. Toyota Vietnam reported selling about 29,000 vehicles in the first 6 months of the year, up 31% over the same period last year. Data from VAMA, Hyundai Thanh Cong and VinFast also showed a total of 207,238 vehicles sold in the first 5 months of the year, up slightly over the same period. Of which, VAMA reached 131,044 vehicles, Hyundai Thanh Cong 20,007 vehicles and VinFast 56,187 vehicles.
However, the notable highlight is not in the growth figures, but in the breakthrough of the green car segment - an "underground stream" that is gradually becoming the main stream.
Electric and hybrid cars pave the way for the era of green cars
While many segments are still struggling to maintain consumption, the electric and hybrid vehicle market has emerged as a bright spot, with hybrid vehicles alone reaching a total sales of 4,505 vehicles in the first 5 months of the year, up 57% over the same period last year. This shows the interest and shifting trend of consumers towards this vehicle line.
In the hybrid segment, Toyota is demonstrating a clear strategy when June sales alone reached more than 771 vehicles - nearly double compared to the same period last year. Models such as Corolla Cross hybrid, Camry hybrid or Yaris Cross hybrid help Toyota maintain its position in the trend of fuel economy and emission reduction.
In addition, other companies such as Hyundai, Kia and Honda have also launched hybrid versions, expanding the choice. In particular, hybrid models from Korea are gradually dominating the popular segment thanks to their reasonable prices and flexible operation.
According to experts, if this trend continues along with stable support policies, total car sales in Vietnam in 2025 could reach 500,000 - 600,000 vehicles, an increase of 10 - 15% compared to last year. Electric and hybrid vehicles alone could reach a market share of 25 - 30%, equivalent to about 150,000 vehicles.
Low running costs, no registration fees, free charging until 2027 and an expanding charging infrastructure are all factors driving the electrification trend, along with a change in consumer awareness of protecting the environment and using more sustainable vehicles.
However, the market still has many barriers to overcome. High interest rates on car loans make consumers cautious when making decisions. Charging infrastructure is still uneven in the provinces, especially in remote areas. Many people are still concerned about the stability of electric vehicles, resale value and maintenance. In addition, competition from cheap imported cars - especially from China - continues to put great pressure on domestic car manufacturers.
However, if supportive policies continue to be maintained and barriers are gradually removed, 2025 will not only be a growth milestone but also a pivotal year for a strong transformation of the Vietnamese automobile market. A green, smart and sustainable era is opening up - where electric and hybrid vehicles are gradually becoming the mainstream choice of consumers.
Source: https://baothainguyen.vn/kinh-te/202507/xe-xanhtang-toc-cuoc-dua-giam-gia-chua-hoi-ket-0d53195/
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