Market Overview - Vietnam's new vehicle market rebounded by 90% to 29,774 units in January 2026 from 15,676 units in January 2025, according to VAMA data [1] - Compared to peak volumes of 42,701 units in December 2025, the market was down by 30% in January 2026 [2] Economic Context - The vehicle market growth is supported by strong economic growth, with GDP accelerating to 8.5% year-on-year in Q4 2025, marking the fastest quarterly growth in 15 years [2] - The overall economy expanded by 8% in 2025, driven by robust domestic consumption, fixed investment, and exports [2] Sales Performance - Light passenger vehicle sales surged by 103% to 22,440 units, while commercial vehicle deliveries increased by 59% to 7,334 units in January 2026 [3] - Truong Hai (Thaco) Group reported an 82% sales increase to 9,458 units, including a 98% jump in commercial vehicle sales to 2,001 units [3] - Major brands like Toyota, Ford, Mitsubishi, and Hyundai also reported significant sales increases, with Ford's sales surging by 109% to 5,121 units and Mitsubishi's by 194% to 5,039 units [4] Future Projections - GlobalData forecasts that sales of light vehicles in Vietnam will grow by over 4% to 587,000 units in 2026, up from 564,000 units in 2025, driven by continued economic growth and rising consumer demand [5] - The Vietnamese government will continue to exempt battery electric vehicles (BEVs) from vehicle registration tax until the end of February 2027, further supporting market growth [5]