Domestic automakers rolled out 284,600 vehicles in the first six months of the year, an increase of 27% compared to the same period in 2025. Experts view this impressive growth, given that the global automotive sector is facing pressure from the electric vehicle (EV) price war, high financing costs, and global trade volatility.
Surpassing the milestone of 600,000 vehicles sold annually indicates that the Vietnamese market has reached a scale sufficient to foster the development of a domestic automotive industry.
Beyond expanding domestic sales, manufacturers such as VinFast and Hyundai Thanh Cong are targeting export markets. VinFast is constructing EV manufacturing plants in India, Indonesia, and the United States. Hyundai Thanh Cong has just exported its domestically manufactured and assembled vehicles to Mexico and Australia.
The Ministry of Industry and Trade is drafting a strategy for the development of Vietnam's automotive industry through 2030, with a vision to 2045. The set targets for 2045 include achieving a localization rate of 85–90% and export values of 30–40 billion USD for transport vehicles and components, enabling Vietnam to deeply integrate into and secure a higher position in the global automotive value chain.
