Vietnam witnessed a boom of new cars entering the market in 2023, with a slew of brands dipping their toe in the Southeast Asian nation despite an ongoing economic slowdown.

While the majority of the newcomers came from China, Skoda, a Czech carmaker, was the only European brand to enter the market, launching its Karoq and Kodiaq models to Vietnamese customers in September.

A Vietnamese distributor of Skoda had previously said that the firm would sell four Skoda models, including Karoq, Kodiaq, Octavia and Superb, in its initial stage.

Karoq and Kodiaq completely built-up cars were imported into Vietnam in September, while the remaining two models Octavia and Superb have yet to make their debut in the market.

In the coming months, Skoda will begin assembling Karoq and Kodiaq cars in the country, while it plans to assemble Kushaq and Slavia in 2024.

Work on a Skoda factory is currently underway in Quang Ninh Province, northern Vietnam. 

China’s Wuling HongGuang Mini EV entered Vietnam in late June via the distribution of TMT Motor.

The car model, one of the best-selling electric cars in China, is priced at VND200 million (US$8,190). The autos are assembled at a factory in northern Hung Yen Province.

In 2024, TMT Motor is set to showcase two more Wuling mini cars in Vietnam.

Another Chinese car brand – Haval – debuted its Haval H6, a compact crossover SUV, in Vietnam in August.

Haval is expected to expand its reach in the Southeast Asian nation if sales of Haval H6 grow in the local market.

Another Chinese car brand, Lynk & Co started to tap Vietnam in mid-December with three models.

Vietnam is Lynk & Co’s first destination in Southeast Asia.

Haima, a Chinese automotive manufacturing company, opened a showroom in Vietnam before officially launching its car models in December. Two of its models, 7X and 7X-E, are put on sale in the country.

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