Imported cars flood Vietnam as auto market braces for Tet holiday

Tet is the biggest holiday in Vietnam, with the first day of the lunar year falling on February 17, 2026.

Between January and August, more than 137,000 completely built-up (CBU) cars valued at US$3.02 billion entered Vietnam, the highest import volume ever recorded for the period, according to data from the Customs Department under the Ministry of Finance.

This marked an increase of $836 million compared to the same period last year, signaling a bustling auto market as the year-end approaches.

The largest portion of these imports comprised passenger cars with fewer than nine seats, totaling over 104,000 units, up nearly 20 percent year on year.

Meanwhile, imported commercial vehicles surged some 96 percent year on year to reach nearly 18,000 units.

In August alone, Vietnam imported more than 16,200 vehicles worth some $363 million.

The majority of Vietnam’s vehicle imports came from Indonesia, Thailand, and China, accounting for 94 percent of the total volume.

Notably, several Chinese brands have been making the biggest waves in terms of market presence and ambition.

Over half of all newly introduced car models in Vietnam so far this year come from China.

Since the start of the year, Chinese automakers have introduced numerous new models to the Vietnamese market, including Geely Coolray, EX5, Monjaro, Lynk & Co 01 Hyper, and BYD’s Sealion 6, Sealion 8, and Atto 2.

Despite the aggressive push, Chinese brands have largely withheld public reporting of their sales figures.

Several Chinese manufacturers are also pursuing long-term strategies to localize production.

Geely is partnering with Vietnam’s Tasco Joint Stock Company to build a $168 million assembly plant in Hung Yen Province, northern Vietnam.

Similarly, Omoda & Jaecoo, a unit under Chery, has teamed up with Geleximco to develop a VND20 trillion ($757 million) manufacturing facility.

An auto expert said that these moves reflected China’s growing ambition to secure a substantial share of Vietnam’s rapidly developing auto market.

Various discounts on offer

The influx of imports, combined with softer consumer demand, has forced car brands in Vietnam to launch sweeping promotional campaigns.

Leading Japanese and South Korean automakers have slashed prices and offered incentives to maintain their competitive edge.

Honda is offering up to 100-percent support on registration fees for the City model, while those buying other models like HR-V, BR-V, and CR-V can receive 50-percent fee support.

Similarly, Toyota is adjusting pricing, allowing Vietnamese buyers to purchase the popular Vios sedan at prices ranging from VND412-491 million ($15,605-$18,600) for various trims such as the 1.5E MT, 1.5E CVT, and 1.5G.

Hyundai has also entered the fray.

In September, Hyundai Thanh Cong launched major promotions for several of its models.

The Santa Fe is now offered with discounts and bonuses totaling up to VND125 million ($4,730), while the large SUV Palisade tops the list with potential savings reaching VND200 million ($7,575) for buyers this month.

Industry insiders in Ho Chi Minh City predict that car imports will continue to rise sharply through the final quarter of 2025, with demand expected to peak during the Lunar New Year holiday.