November auto output hits record high as peak buying season nears

November auto output hits record high as peak buying season nears

Domestic assembly reached 50,900 units, up 24.1 per cent month-on-month and 8.2 per cent year-on-year, marking the strongest monthly output so far in 2025.

Workers assemble automotive components at Skoda's plant in Việt Nam. — VNA/VNS Photo

Việt Nam’s auto supply rose sharply in November as domestic assembly hit its highest monthly level of the year, easing concerns about year-end price increases amidst abundant inventories.

The Statistics Office under the Ministry of Finance estimated that 67,156 new vehicles, including both locally assembled and imported cars, were added to the market in November, up 17.1 per cent from October.

Domestic assembly reached 50,900 units, up 24.1 per cent month-on-month and 8.2 per cent year-on-year, marking the strongest monthly output so far in 2025. Local manufacturers produced about 425,600 vehicles in the first 11 months, a surge of 37.4 per cent from a year earlier.

Việt Nam also imported 187,620 completely built-up (CBU) vehicles between January and November, up 16.8 per cent year-on-year. Combined with domestic production, the market received more than 613,000 new vehicles in 11 months.

Industry data indicate inventories remain high. By the end of October, domestic output and imports had exceeded 546,000 units, while total sales reported by the Vietnam Automobile Manufacturers’ Association (VAMA), VinFast, and Hyundai Thanh Cong reached around 455,000 units only. Dealers expect nationwide inventories to remain near 100,000 vehicles.

The ample supply has intensified price competition as dealers seek to reduce stock before the year ends. Many brands have launched aggressive discount programmes, helping stabilise prices and reduce the risk of shortages during the peak shopping season.

According to market insiders, the strong rebound in domestic assembly reflects improved supply chains, greater use of tax incentives, and a shift from imports to local production. In addition, import value has grown faster than volume, signalling increasing demand for mid-range and premium models.

While an abundant supply creates favourable buying conditions, extended discounting is putting pressure on automakers’ margins. Some may adjust production or import plans in early 2026 to avoid excess inventory. Dealers also note that repeated promotions are strengthening consumers’ 'wait-for-discounts' mindset, adding further pricing pressure.

Despite these challenges, the year-end market is expected to remain highly competitive, with buyers enjoying the best price conditions in years as automakers balance inventory, production plans, and long-term strategy in a rapidly evolving market. 

Bizhub