Vietnam’s automobile market sees strong shift to “green” vehicles
Electric and hybrid vehicles are projected to continue experiencing strong growth in 2025 and the following years, with an expected growth rate of 25-30% in 2025, and gradually accounting for a larger share of the total car sales in Vietnam.
An electric vehicle model of Vinfast (Photo: Vinfast)
Hanoi (VNA) 𝓀- Electric and hybrid vehicles are projected to continue experiencing strong growth in 2025 and the following years, with an expected growth rate of 25-30% in 2025, and gradually accounting for a larger share of the total car sales in Vietnam.
According to the Market Research Department at Oto.com.vn, a subsidiary of Nextgen Vietnam JSC, in previous years, "green" vehicles accounted for only a small portion of the Vietnamese car market. However, in 2024, this segment reached a sales volume of 97,000 vehicles, including 87,000 electric vehicles from VinFast, 5,350 hybrid vehicles from Toyota, 2,515 hybrid vehicles from Suzuki, and 1,905 hybrid vehicles from Honda.
These sales represent more than 22% of all new passenger vehicles sold, highlighting a growing preference among Vietnamese consumers for environmentally friendly cars.
Along with infrastructure support policies and incentives from automakers, the Vietnamese car market is entering an important phase of transformation, aiming for a more sustainable future.
The rise of green vehicles will be driven by tax incentives for EVs, the expansion of charging station networks, and efforts by car manufacturers like VinFast, Toyota, Honda, Hyundai, Kia, and Suzuki to continuously introduce new models at more competitive prices.
In particular, Vietnam's commitment at the 26th United Nations Climate Change Conference (COP26) to achieve carbon neutrality by 2050 is driving policies that encourage the use of EVs, reduce emissions, and make significant investments in charging infrastructure nationwide.
Along with that, growing environmental awareness and the lower operating costs of EVs will continue to attract consumers, helping "green" cars gradually become the dominant trend in the market./.
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