VinFast leads Vietnam EV market as Hyundai and Kia face sales decline

The Vietnamese automotive market is undergoing a significant shift in consumer preferences and market share. VinFast has maintained a leading position in the electric vehicle sector for 24 consecutive months, driven by a diverse product range and a robust supporting ecosystem. In August 2026, VinFast delivered 20,161 electric vehicles, with the VF 3, VF 5, and Herio Green models being key contributors to these sales.

In contrast, South Korean manufacturers Hyundai and Kia are facing declining market dominance. Despite the overall growth of the Vietnamese automotive market, which saw consumption of over 430,000 vehicles in the first eight months of 2026, Hyundai and Kia have seen stagnant or declining sales. Hyundai sold approximately 31,000 vehicles, while Kia reached over 20,000. This trend marks a departure from the 2017-2021 period when the combined market share of these two brands grew from 18.8% to over 30%.