Electric vehicles account for the majority of market growth
According to data compiled by the Vietnam Automobile Manufacturers Association (VAMA), importers, Hyundai Thanh Cong and VinFast, the Vietnamese automobile market consumed 387,849 vehicles in the first 7 months of 2026, an increase of 28.6% compared to the same period in 2025. This is the highest accumulated sales level in 7 months to date.
The most prominent driving force comes from VinFast with all products sold being electric cars. In 7 months, the company delivered 137,697 vehicles, an increase of 74.2% compared to the same period last year. Thus, VinFast's growth rate is nearly 2.6 times higher than the general increase of the entire market.
In terms of scale, for every 100 cars recorded sold in 7 months, there are more than 35 VinFast brand cars. More notably, calculations from growth data show that the number of VinFast cars added compared to the same period reached about 58,700 units, equivalent to nearly 68% of the total increase of the entire market.
That means, in the market's approximately 86,000 additional vehicles compared to the first 7 months of 2025, more than 2/3 come from a pure electric vehicle manufacturer. This is a clear indication that electric vehicles are no longer just an additional segment, but are playing a leading role in the expansion of the Vietnamese auto market.
In July 2026 alone, VinFast handed over 21,781 electric cars, an increase of 21% compared to the previous month. Sales structure also shows that purchasing power extends across many needs: VF 3 reached 5,564 vehicles; VF 5 and Herio Green reached a total of 4,407 vehicles; Limo Green reached 4,404 vehicles; Minio Green reached 2,429 vehicles; VF 6 reached 1,993 vehicles and VF MPV 7 reached 1,674 vehicles.
Policies and experiences create momentum for electric vehicles
One of the factors directly supporting purchasing power is the registration fee policy. According to Decree No. 51/2025/ND-CP, battery electric cars continue to be applied the first registration fee rate of 0% until the end of February 28, 2027. This policy helps buyers significantly reduce rolling costs compared to cars using gasoline and oil at the same price.
Data from the Ministry of Finance once showed that the number of battery electric cars registered for registration fees for the first time increased from 4,000 vehicles in 2022 to 29,281 vehicles in 2023 and 79,781 vehicles in 2024. The results of sales in the first 7 months of 2026 show that the impact of the policy is continuing to be amplified as the electric product portfolio expands and car prices are increasingly approaching many customer groups.
Besides policy incentives, gasoline price fluctuations make users more interested in total ownership costs instead of just looking at the initial purchase price. According to reporters' records in Hanoi in March 2026, many people are starting to recalculate travel costs and learn about electric vehicles after fuel price fluctuations.
Mr. Nguyen Van Hung - a resident in Dong Da ward, Hanoi - shared that before he was not really interested in electric vehicles, but when gasoline prices fluctuated continuously, he started comparing costs and realized that the monthly charge fee could be significantly lower than the gasoline price.
Meanwhile, Ms. Le Thu Trang (Ha Dong ward, Hanoi) chooses electric vehicles not only for saving but also to contribute to reducing air pollution. Records at some dealers also show that young customers and families are more interested in charging costs, maintenance, battery life and support policies before deciding to switch.
From a market perspective, initial concerns about travel range, battery charging and vehicle durability are gradually decreasing as users gain more practical experience, the charging station system is expanded and the electric vehicle portfolio covers from minicars, SUVs, MPVs to vehicles serving transportation business. This diversity helps electric vehicles meet both family needs, urban travel and service exploitation.
