Vietnam, China Vehicle Markets Report Significant Sales Growth

In March 2025, the Vietnamese vehicle market grew by 8% year-on-year, reaching 26,079 units sold, with a notable 16% increase in overall sales for the first quarter. This growth was driven by strong economic performance, with the GDP rising 5.9% in Q1, alongside a 62% surge in Toyota's sales and a significant rise in commercial vehicle deliveries. In contrast, China's auto market also saw a robust performance, with sales of Chinese-made vehicles increasing by over 8% in March, aided by government stimulus measures and competitive pricing strategies among manufacturers. Domestic sales in China rose 10%, while overall vehicle sales for the first quarter surged by 11%, highlighting the rising demand for new energy vehicles (NEVs), which saw a 47% year-on-year increase. Both markets reflect a growing trend towards electrification and increased competition among automakers, evidenced by significant sales boosts for both domestic and international brands. The ongoing price reductions and incentives in China are indicative of a challenging yet dynamic automotive landscape.