The Vietnam Automobile Manufacturers Association (VAMA) has just informed that the total number of cars consumed in the entire market in January 2025 decreased sharply by 40% compared to December 2024.

According to VAMA, in January 2025, 18,893 cars were sold in the whole market, 12,705 cars lower than in December 2024. The reason explained by the business community is that the long Lunar New Year holiday in 2025 caused a sharp decline in car purchasing power in January 2025.Global electric vehicle sales grew positively in January. According to research firm Rho Motion, global sales of electric vehicles and plug-in hybrids in January 2025 reached 1.3 million units, up 17.7% year-on-year. This is the third consecutive month that the market has recorded lower growth than previous months.

Also in January 2025, the passenger car segment achieved sales of 14,201 units, down 42% compared to December 2024. In addition, the number of commercial vehicles sold in the first month of the year reached 4,354 units, down 33%. Meanwhile, the specialized vehicle segment decreased by 40%, reaching 338 units.

In terms of origin, the group of completely built-up (CBU) imported cars has surpassed domestically manufactured and assembled (CKD) cars to lead the market in January 2025. Statistics from VAMA show that the market received 9,773 CBU cars in the first month of the year, a slight increase of 3% over the same period last year.

Meanwhile, CKD car sales reached only 9,120 units, down 7% compared to the same period last year. In the product structure of VAMA members, most of the best-selling car models in the market are imported cars such as Mitsubishi Xpander, Mitsubishi Xforce, Toyota Yaris Cross…/.

According to the announcement of the General Statistics Office, in 2024, the number of domestically produced and assembled cars is estimated to reach 388,500 units, a slight increase compared to 347,400 units in 2023 and far lower than 440,000 units in 2022.

The import turnover of completely built-up cars in 2024 reached 172,240 vehicles, a sharp increase compared to 117,800 vehicles in 2023 and equal to that in 2022.