VinFast continues to dominate the Vietnam auto market with record EV sales, lifting the entire industry. Explore the Q1 2026 market report now!
The full picture of Vietnam’s automotive landscape for the first quarter of 2026 has finally emerged following the release of March sales reports. The data confirms a striking trend: while traditional automotive giants are regaining momentum, VinFast remains the undisputed leader, reshaping the market with its aggressive expansion into electric mobility.
VinFast: The New Market Powerhouse
With a diverse product portfolio and strong consumer demand, VinFast has successfully outpaced established rivals from the US, South Korea, and Japan. In March alone, the Vietnamese EV maker delivered 27,609 electric vehicles, representing a staggering 127% increase compared to the same period last year.
For the first quarter of 2026, VinFast completed the delivery of 53,684 electric vehicles. A key driver of this success has been the Limo Green model, which has quickly become a “cash cow” for the company, contributing 12,471 units to the quarterly total.
Market Share Breakdown
The current distribution of the new vehicle market in Vietnam highlights a significant shift in consumer preference:
- VinFast: 33.13% market share
- VAMA Members: 58.54% market share
- Hyundai: 8.33% market share
Traditional Giants Face Stiff Competition
In the passenger car segment, VinFast’s lead is substantial, leaving traditional brands trailing behind. To put the scale into perspective, VinFast’s total deliveries exceed the combined sales of the four brands following it:
- Toyota: 16,885 units
- Mitsubishi: 11,909 units
- Ford: 11,104 units
- Hyundai: 10,195 passenger cars
Other brands also recorded steady but lower volumes. Mazda sold 8,101 units, Kia reached 8,076, and Honda delivered 5,603 vehicles. Meanwhile, Japanese brands Suzuki and Isuzu remained at the bottom of the passenger car list with 1,199 and 365 units, respectively, as they continue to focus primarily on the commercial vehicle sector.
A Rising Tide Lifts All Boats
While VinFast holds the “dominant” position—a status it has maintained since 2024—the most interesting takeaway from Q1 2026 is that the overall market is expanding. VinFast’s success does not seem to be cannibalizing the sales of other brands; rather, it is acting as a catalyst for industry-wide growth.
Year-over-Year Growth Comparison (Q1 2025 vs. Q1 2026)
Most major players have seen a positive uptick in sales compared to the previous year:
- Toyota: Increased from 11,830 to 16,885 units.
- Mitsubishi: Grew from 7,920 to 11,909 units.
- Ford: Rose from 8,098 to 11,104 units.
- Hyundai: Improved from 8,838 to 10,195 passenger cars.
- VinFast: Jumped from 35,100 to over 53,000 units.
Furthermore, the VAMA group as a whole recorded a “hot’ growth spurt, with 98,857 vehicles sold in Q1 2026—a 31% increase over the 72,249 vehicles sold during the same period in 2025.
Final Outlook
The Vietnamese automotive market in early 2026 is characterized by stability in hierarchy but growth in scale. VinFast’s dominance is well-established, fueled by a strategic pivot to EVs and strong local brand loyalty. However, the positive growth figures across all major brands suggest a healthy, expanding market where the surge in EV adoption is driving overall consumer interest in new vehicles.