Key Market Indicators
Vietnamese vehicle registration is projected to hit approximately 321,000 units by 2028, up from around 290,000 units in 2023. This marks an average annual growth rate of 1.6%. Since 2010, the Vietnamese market has experienced an average yearly increase of 3.3%. In 2023, Vietnam ranked 47th globally, with Kazakhstan surpassing it with the same number of registrations. Canada, China, and Austria held the 2nd, 3rd, and 4th positions, respectively. Meanwhile, Vietnamese vehicle production is expected to reach roughly 405,000 units by 2028, rising from about 322,000 units in 2023. This reflects an average annual growth rate of 3.6%. Since 2005, Vietnam's supply has surged by an average of 6.3% each year. In 2023, the country ranked 28th in vehicle production, with Portugal moving ahead with the same production volume. The United States, Japan, and Germany occupied the 2nd, 3rd, and 4th spots, respectively.
