Imported cars are flooding into the country, car prices are expected to drop further

According to a newly released report by the General Statistics Office, an estimated total of 54,048 new cars, including domestically produced and imported cars, were added to the Vietnamese market in February. This number increased sharply by 20% compared to January 2025 (45,026 cars).

Of which, the output of domestically produced and assembled cars in February was estimated at 36,900 units, down slightly by 2.3% compared to January (37,800 units) but still up by 152.9% compared to February 2024. Although the number of cars manufactured has slowed down, this is still a high level compared to previous years. In the first two months of the year, 74,800 cars were produced and assembled domestically, up 106.5% over the same period.

In contrast to domestically produced cars, the number of imported cars to Vietnam in February tended to increase. Specifically, an estimated 17,148 cars were imported into the country with a turnover value of 378 million USD in February. This number increased by nearly 10,000 cars, equivalent to an increase of 137% compared to January (7,226 cars with a value of 163 million USD, according to Customs data).

The sudden increase in imported cars in the month after Tet was predicted by many car manufacturers who plan to launch a series of new imported car models in the next 1-2 months. In addition, the reduction in import tax on cars from some countries such as Japan, the US, Europe, etc. from the beginning of 2025 due to the effectiveness of free trade agreements (FTAs) has also contributed to the increase in the number of cars imported into the country in recent times.

Car market experts believe that the abundant supply in the context of the car market "big discounts" will cause car prices to decrease even more in the coming time. And of course, car buyers will be the ones to benefit.