Vietnam's May 2026 New Car Sales Rise 6% Year-on-Year; Hybrid Vehicles Surge 59% Month-on-Month

Vietnam's automobile industry saw continued growth in May 2026, with new car sales reaching 29,935 units according to the Vietnam Automobile Manufacturers' Association (VAMA). While monthly sales declined 6% from April, year-on-year comparisons showed a 6% increase, reflecting sustained market momentum despite seasonal fluctuations following the March recovery from the Lunar New Year holiday.

Hybrid vehicles emerged as a standout category, surging 59% month-on-month to 1,670 units, demonstrating a pronounced shift toward environmentally friendly vehicles. This trend was particularly evident in the first five months of 2026, where hybrid vehicle sales jumped 80% year-on-year to 8,518 units. The broader electric and hybrid vehicle market reflected changing consumer preferences as environmental considerations became increasingly central to purchasing decisions.

VinFast maintained its market dominance with May deliveries reaching 19,503 units, a 39% increase from May 2025, marking the company's 20th consecutive month as the market leader. The company achieved record-high monthly delivery volumes, underscoring its continued expansion despite overall market moderation month-on-month. Meanwhile, TC Motor reported May sales of 3,921 units.

For the January-May period, Vietnam's new car market expanded robustly with total sales of 156,729 units, up 20% year-on-year. Domestic vehicle sales increased 11% while imported vehicles grew 27%, indicating a diversifying market. The strong performance and shift toward hybrid and electric vehicles position Vietnam's automotive sector as increasingly focused on sustainable transportation solutions.