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Vietnam’s automobile market expanded rapidly in 2025, yet localization rates – particularly for passenger cars – remain stubbornly low, highlighting a structural gap in the industry’s development.
Strong growth momentum
According to PwC Vietnam’s Autofacts® Market Update – March 2026, vehicle sales in Vietnam rose 20.3% in 2025, making it the second fastest-growing market among the ASEAN-6. However, the localization rate, especially for five-seater passenger cars, remains “stable” at 10-20%.
The ASEAN-6…