Vietnam's second largest source country in the first two months has changed: China has jumped to become Vietnam's second largest source country of complete vehicles with 10,047 vehicles and a value of US$344.19 million...

[Hanoi News] Vietnam's imported car market will continue to boom in 2026. According to the latest data from the customs department of Vietnam, Vietnam imported a total of 31,372 complete vehicles (CBUs) in the first two months of 2026, a year-on-year increase of 26.3%; the import value reached US$745.66 million, a higher year-on-year increase of 38.6%. In February alone, Vietnam imported 16,216 complete vehicles, with an amount exceeding US$359 million.

What deserves more attention is the changes in the supply pattern. Data shows that among the main source countries of Vietnam in the first two months, Indonesia still ranked first, importing 11,823 vehicles (approximately US$164 million), accounting for approximately 37.7%. The models are mainly popular products such as household MPVs and urban SUVs, with an average of approximately US$13,870. However, the second place has already changed: China has become Vietnam's second largest source of complete vehicles with 10,047 vehicles and a value of US$344.19 million, accounting for about 32% of imports and contributing about 46.2% in terms of amount. Thailand ranks third, importing 7,523 vehicles worth US$160.19 million. The product structure is mainly pickup trucks and SUVs.

In terms of growth rate, the expansion in the direction of China is particularly prominent: compared with the same period in 2025, the number of complete vehicles imported by Vietnam from China increased by 84.4%, and the amount increased by 101%. What reflects behind the customs data is not only "buying more", but also "buying more expensive"-the bicycle value of China cars in Vietnam is significantly higher than that of other source countries, and the proportion of imports is much higher than the proportion of quantity. The report believes that this is related to the structural upgrading of China's export models, especially the accelerated introduction of pure electric and hybrid products. Related brands currently active in the Vietnam market include BYD, Geely, Linkages, OMODA, JAECOO, etc. A number of new cars are continuing to arrive in Hong Kong to prepare for subsequent larger-scale distribution.

The industry also judges that as the Vietnam market moves from traditional fuel vehicles to electric and hybrid vehicles, coupled with the increased preference of consumers for intelligent configurations, the share of China models may still continue to rise, while Thai car sources, known for their fuel pickups and fuel SUVs, are facing pressure in the face of structural trends.

[Brief Comment] Vietnam's imports are "increasing in volume", indicating that the market is migrating to higher-tech and higher-unit price models. In the short term, accelerating imports of new cars and new energy will increase the pace of replacement in some market segments, but it may also compress the living space of low-end used cars. If China companies consider exporting used cars or related business opportunities to Vietnam, they should focus on products with transparent vehicle conditions, shorter life expectancy, and configurations that are more in line with local preferences. At the same time, they should study in advance Vietnam's requirements for emissions, registration, quality assurance and after-sales availability.

Source of news:https://www.vietnam.vn/nhap-khau-o-to-tang-26-3-xe-trung-quoc-but-pha-vuot-thai-lan-trong-2-thang-dau-nam-2026

Source: Guangdong Good Car

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