VinFast captures over half of Vietnam’s passenger car sales in April. See how EVs are reshaping the automotive landscape. Read the full analysis!
The Vietnamese automotive landscape is witnessing a historic shift. In a stunning turn of events for April, VinFast has not only climbed the ranks but has effectively taken over the market, capturing more than half of all passenger car sales in the country.
The Numbers: A Dominant Lead
According to aggregated data from the Vietnam Automobile Manufacturers Association (VAMA), TC Group, and VinFast, total passenger car sales (excluding trucks and buses) reached 47,230 units in April. While this figure doesn’t include some Chinese brands like BYD, Chery, MG, or Omoda & Jaecoo—who do not publicly report their data—as well as luxury marques like Porsche and Maserati, the overall trend remains clear.
Out of the total market, VinFast delivered a staggering 24,774 vehicles, accounting for 52.4% of the total market share. To put this in perspective, the combined sales of VAMA member brands totaled roughly 19,972 units, while Hyundai TC Group recorded 2,564 sales.
Traditional Giants Struggle to Keep Pace
The once-uncontested leaders of the Vietnamese market are now finding themselves in a distant second place. Toyota remains the strongest non-VinFast brand, with 6,378 vehicles delivered. Following closely is Mitsubishi, which sold 3,439 units, bolstered by the continued popularity of the Xpander and Xforce.
Interestingly, the rivalry between Korean brands saw an unexpected twist. Despite having a wider product portfolio, Hyundai lagged significantly behind Kia, with sales of 1,340 units compared to Kia’s 2,469.
The Power of the EV Ecosystem
VinFast’s success isn’t just about having a variety of models; it’s about targeting the right segments with the right pricing. The brand’s electric vehicles (EVs) have completely swept the top 5 best-selling cars in Vietnam for April.
The Top Performers:
- VinFast Limo Green: Claiming the top spot with 6,480 units. Priced at 749 million VND, this electric MPV has become the gold standard for commercial ride-hailing services due to its low operating costs.
- VinFast VF 3: The mini-EV continues its hot streak, securing second place with 5,273 units.
- VinFast VF 5 & Herio Green: This duo brought in 4,732 sales, making the A-segment SUV the third best-selling model in the country.
- VinFast VF 6 & MPV 7: With 2,704 and 2,526 units respectively, these models are significantly outperforming their direct Japanese and Korean competitors in their respective segments.
A Turning Point for Green Mobility
This shift marks a pivotal moment in Vietnam’s transportation history. Electric vehicles are no longer viewed as a “niche alternative” or a secondary choice; they have become the primary driver of market growth. VinFast’s aggressive rollout of charging infrastructure and the clear economic advantage of EV operational costs are successfully overturning the long-standing preference for internal combustion engines (ICE).
As we move further into the year, the competition is expected to intensify. Japanese and Korean manufacturers will likely be forced to drastically pivot their pricing and technology strategies if they hope to close the widening gap left by the domestic powerhouse.