Over 400 international companies explore opportunities in Vietnam’s car market

The eighth edition of Automechanika Ho Chi Minh City has convened over 400 international exhibitors to explore Vietnam’s rapidly evolving automotive landscape, which is increasingly focused on new-energy vehicles. Driven by significant sales growth in the electric and hybrid segments, the market is attracting global interest across the entire value chain, from manufacturing to aftermarket services. This shift is underscored by the strong performance of key players like VinFast and BYD, signaling a transformative period for the ASEAN region's vehicle industry.

The Automechanika Ho Chi Minh City exhibition, held from June 18 to June 20, features 410 exhibitors from 17 countries and territories occupying 18,100 square metres at the Saigon Exhibition and Convention Centre. The event highlights a major transition in Vietnam’s automobile industry toward electric and hybrid vehicles, creating new momentum for local manufacturing, supporting industries, and technological innovation. This shift is supported by government policies and increasing demands from original equipment manufacturers (OEMs), opening doors for market players ranging from parts suppliers to aftermarket service providers.

Market data reflects this robust growth, with Vietnam’s electric and hybrid vehicle sales reaching 162,039 units in the first quarter of 2026, representing a year-on-year increase of over 36 per cent. Leading this expansion are Vietnam’s VinFast and China’s BYD. VinFast specifically reported a significant financial surge in the same period, with revenues hitting $920.7 million, a 41.7 per cent increase compared to the previous year. These figures demonstrate the accelerating adoption of new-energy vehicles within the domestic market.

Beyond four-wheeled vehicles, the shift toward electrification is also evident in the two-wheeler segment, with Honda announcing the launch of new electric models in Vietnam and Thailand starting this spring. Other major industry milestones include Piaggio Vietnam reaching a production landmark of two million vehicles at its Phu Tho factory. The expo serves as a critical platform for these industry leaders to showcase products in categories such as components, accessories, and car care, facilitating global business development and knowledge exchange across the ASEAN supply chain.