Vietnam High-Performance Trucks Market, By Vehicle Type (Light Duty Truck, Medium Duty Truck, Heavy Duty Truck), By Power Output (250–400 HP, 401–550 HP, >550 HP), By Transmission Type (Automatic, Manual), By Region, Competition, Forecast & Opportunities, 2020-2030F

Market Overview

Vietnam high-performance trucks market was valued at USD 2.75 Billion in 2024 and is expected to reach USD 3.65 Billion by 2030 with a CAGR of 4.8% during the forecast period. Vietnam’s high-performance trucks market is undergoing significant transformation, fueled by rapid industrial growth, infrastructure expansion, and evolving logistics demands. The Vietnamese government’s robust investments in transport and road infrastructure—over USD 10 billion earmarked in 2024 alone for expressways and ring roads—are driving demand for efficient, heavy-duty transport solutions. This shift is not only improving supply chain efficiency but also incentivizing fleet operators to upgrade to high-performance trucks that deliver superior torque, fuel efficiency, and reliability across long distances. As Vietnam becomes a strategic manufacturing hub for electronics, garments, and agriculture-based products, demand for high-capacity logistics has intensified. High-performance trucks, especially in the heavy-duty category, are proving indispensable for long-haul freight operations and inter-provincial cargo movement. With the country experiencing a steady rise in e-commerce logistics—Vietnam’s e-commerce market grew 25% year-over-year in 2024—the need for faster last-mile delivery has prompted fleet modernization, including adoption of automatic transmission and high-horsepower engines.

Moreover, Vietnam’s alignment with Euro 5 emission norms and promotion of green transportation policies has pushed OEMs to introduce cleaner, more powerful engines. Global truck manufacturers like Volvo, MAN, and Hino are expanding operations in Vietnam, while local players like THACO are investing in R&D for performance upgrades. Technological advances like telematics, remote diagnostics, and AI-assisted fleet management are also gaining traction. Urbanization—projected to reach 43% by 2025—is driving construction boom, thereby necessitating powerful light- and medium-duty trucks. Additionally, ASEAN regional trade agreements and foreign direct investments are enhancing cross-border trade, stimulating demand for high-load, long-range trucks. Although challenges persist around high upfront costs and driver skill gaps, the government’s pro-industrialization policies and rising logistics outsourcing are laying a strong foundation for the high-performance truck sector. In summary, the convergence of economic growth, digital supply chains, green policies, and cross-border trade is catalyzing a shift toward more robust, intelligent, and emission-compliant high-performance trucks in Vietnam.

Key Market Drivers

Infrastructure Development and Government Investment

Vietnam's unprecedented infrastructure boom is a critical driver propelling the high-performance truck market. In 2024, the Vietnamese Ministry of Transport allocated over VND 240 trillion (approx. USD 10.3 billion) toward major transport projects, including the North–South Expressway and the Long Thanh International Airport. These initiatives are drastically improving regional connectivity, necessitating more efficient freight movement across provinces. Construction of 5,000+ km of expressways by 2030 is on track, requiring continuous transport of cement, steel, and machinery—domains where high-torque, high-load trucks excel. The government’s approval of 26 urban transport infrastructure projects and 9 new industrial zones in 2024 further escalates demand for high-duty logistics. These developments directly stimulate the demand for trucks with power outputs exceeding 400 HP, equipped with advanced suspensions and powertrains to handle heavy loads over diverse terrain. Moreover, the National Master Plan on Logistics Development (2021–2030) targets reducing logistics costs to 16% of GDP from 20%, emphasizing the need for high-performance, fuel-efficient, and low-maintenance vehicles to achieve that goal.

E-Commerce and Retail Supply Chain Transformation

Vietnam’s booming e-commerce sector—estimated to cross USD 20 billion by 2025—is drastically reshaping freight and logistics operations. Platforms like Tiki, Lazada, and Shopee are expanding their fulfillment networks across Tier 2 and Tier 3 cities, increasing the demand for versatile, high-performance light- and medium-duty trucks. Last-mile delivery expectations have tightened, compelling logistics firms to adopt trucks with higher acceleration, better fuel economy, and automatic transmission for urban drivability. Fleet operators are transitioning to new-generation trucks featuring 250–400 HP engines to serve rapidly rotating retail inventories. According to Vietnam E-Commerce Association (VECOM), the average daily delivery volume in 2024 rose by 18%, with logistics fleets scaling operations across diverse geographies. High-performance trucks offer the reliability and uptime needed for time-sensitive e-commerce delivery cycles. Additionally, retail giants like Central Retail and WinCommerce are investing in cold-chain logistics, prompting demand for specialized high-output refrigerated trucks. As Vietnam’s retail sector digitizes and integrates with supply chain automation, the need for technologically advanced, low-downtime high-performance trucks is set to escalate.

Industrialization and Export-Led Growth

Vietnam’s GDP growth, pegged at 5.9% in 2024, is largely driven by export-oriented manufacturing, especially electronics, garments, seafood, and furniture. The country's rise as an alternative to China for global manufacturing has exponentially increased the need for high-performance freight transport. Vietnam’s exports exceeded USD 372 billion in 2024, with bulk movement of raw materials and finished goods across ports and borders. To handle this surge, logistics providers require medium- to heavy-duty trucks with power outputs beyond 400 HP that offer superior payload capacity, engine longevity, and performance efficiency. Furthermore, Vietnam’s port modernization—such as expansion of Hai Phong and Cai Mep ports—requires trucks that can withstand long hauls and harsh port-side conditions. The proliferation of free trade agreements (like CPTPP and EVFTA) has boosted cross-border logistics, prompting adoption of automated transmission trucks that reduce driver fatigue over long distances. Industrial hubs like Bac Ninh and Binh Duong are seeing a spike in logistics volume, demanding 24/7 truck operations with high engine uptime. High-performance trucks also offer better telematics and fleet management integration, which is increasingly vital as Vietnamese firms aim to meet global standards in supply chain efficiency.

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Key Market Challenges

High Upfront Costs and Limited Financing

High-performance trucks come with significantly higher price tags due to advanced engineering, high-horsepower engines, and embedded digital technologies. For instance, a heavy-duty truck with >550 HP can cost upwards of VND 3 billion (USD 120,000), nearly double that of standard alternatives. For small fleet owners, who constitute over 65% of Vietnam’s logistics operators, such investments are often unaffordable without robust financial support. Although banks and NBFCs offer fleet loans, high interest rates (typically 8–10%) and stringent collateral requirements limit accessibility for smaller players. Leasing models are still underpenetrated in Vietnam, and state subsidies for fleet electrification or modernization remain limited. These cost barriers hinder mass adoption, especially in non-urban and SME-dominated logistics markets. Moreover, the depreciation value of high-tech trucks with proprietary systems poses a resale challenge. With maintenance costs also higher—due to imported spare parts and specialized servicing—many operators hesitate to transition from conventional fleets, slowing overall market penetration.

Shortage of Skilled Drivers and Technicians

The shift toward high-performance trucks, particularly those with automated transmission and electronic control units, demands skilled drivers and technicians. However, Vietnam is grappling with a critical shortage in both categories. According to Vietnam Logistics Business Association (VLA), the country faced a 25% shortfall in licensed heavy truck drivers in 2024. The learning curve for managing vehicles with 401–550 HP or automated gearboxes is steep, especially in mountainous or congested urban areas. Similarly, maintenance personnel lack sufficient training in telematics systems, regenerative braking, and computerized diagnostics—integral features of high-performance vehicles. The vocational training ecosystem is underdeveloped, and OEMs are yet to scale up post-sales training infrastructure. This talent gap not only leads to underutilization of advanced trucks but also increases accident risks, mechanical failure, and long downtime periods. Furthermore, with cross-border logistics on the rise, Vietnamese drivers must comply with international safety and operational standards, exacerbating the pressure on workforce upskilling. Unless addressed, this bottleneck could severely constrain market scalability.

Regulatory Complexity and Import Dependency

Vietnam’s regulatory environment around emission norms, road permits, and import duties adds layers of complexity for the high-performance truck market. Although the country has adopted Euro 5 emission standards from January 2022, enforcement remains inconsistent across provinces, leading to compliance ambiguity for OEMs. Moreover, more than 80% of high-performance trucks and key components are imported—primarily from Japan, South Korea, and Europe—exposing the market to foreign exchange volatility and supply chain disruptions. Import duties range from 20% to 30%, which inflate truck prices and deter smaller players. Additionally, lack of localized manufacturing for high-performance drivetrains, powertrains, and sensors limits customization and aftersales support. Regulatory restrictions on road weight limits, axle configurations, and fleet conversion also differ between cities and industrial zones, complicating fleet planning and investment. These challenges discourage OEMs from fully localizing operations, slowing down technology transfer and cost optimization. Although Vietnam has plans for industrial automation parks, the current policy framework still lacks specific incentives for truck OEMs to establish assembly or R&D centers for high-performance vehicles.

Key Market Trends

Rise of Electrified and Hybrid Powertrains

Vietnam is gradually embracing sustainability in transport, driven by rising fuel costs and pressure to cut emissions. The Ministry of Industry and Trade launched the “Green Energy Transition Program for Transport” in late 2024, targeting a 45% cut in freight CO₂ emissions by 2030. This is propelling R&D and early adoption of hybrid and electric powertrains in high-performance trucks, particularly in urban logistics. OEMs like VinFast and THACO are experimenting with electric LDTs (light-duty trucks) for city delivery, while partnerships with South Korean and Chinese firms aim to assemble battery-electric heavy-duty trucks locally. Hybrid powertrains, offering 250–400 HP, are gaining traction due to dual fuel flexibility and lower operating costs. Although infrastructure remains a bottleneck, with only 200+ public fast chargers in Vietnam as of mid-2025, the government plans to incentivize electric fleet purchases via VAT and registration exemptions. These developments are setting the stage for broader electrification in Vietnam’s truck market, particularly in the light-duty and urban logistics segments.

Integration of Smart Fleet Management Solutions

Digital transformation is reshaping the operational paradigm for truck fleets in Vietnam. Increasing fuel prices and driver shortages are encouraging logistics firms to optimize fleet utilization through telematics and IoT platforms. High-performance trucks now increasingly come equipped with GPS tracking, fuel consumption monitoring, predictive maintenance alerts, and driver behavior analytics. In 2024, the market for commercial vehicle telematics in Vietnam grew 30%, led by firms like GHTK and Viettel Post deploying connected fleet solutions. These tools not only reduce idle times and route deviations but also improve regulatory compliance and carbon footprint measurement. Advanced trucks with 401–550 HP range are benefiting most from these integrations, as they cover long routes and require greater monitoring. Moreover, international logistics companies operating in Vietnam, such as DHL and DB Schenker, are mandating digital compliance, pushing local fleet operators to adopt smart truck systems. This tech-led shift is enabling more predictable, data-driven logistics planning.

Customization and Modular Truck Configurations

One emerging trend is the rising demand for highly customized high-performance trucks tailored for specific industries—construction, mining, refrigerated logistics, and intermodal freight. Customers are increasingly opting for modular designs where power output, chassis length, cabin ergonomics, axle count, and transmission type are selected based on the cargo type and route profile. For example, construction firms are ordering HDTs with >550 HP and reinforced suspension for quarry operations, while seafood exporters favor medium-duty trucks with integrated cold-storage and automatic transmission for port access. THACO’s truck division reported a 22% increase in custom-spec orders in 2024, primarily from large industrial clients in Bac Giang and Da Nang. This shift toward modularity is prompting OEMs to set up configuration studios and co-design platforms with clients, leading to faster fleet deployment and better ROI. The trend also dovetails with Vietnam’s flexible work regulations, where industrial clusters have staggered production cycles that demand non-uniform transport scheduling.

Segmental Insights

Transmission Type Insights

In Vietnam, Manual Transmission, historically dominant, manual transmission trucks remain prevalent, particularly in HDTs due to lower cost and familiarity among drivers. In 2024, about 62% of high-performance trucks sold in Vietnam had manual gearboxes. However, issues like driver fatigue, especially in urban congestion and steep terrains, are gradually pushing users toward automatics. Automatic Transmission segment is growing fast, especially in LDTs and MDTs operating in urban and suburban areas. Automatic transmission allows smoother handling, reduces driver training time, and improves vehicle control in traffic. Its adoption rate in new trucks reached 38% in 2024 and is expected to surpass 50% by 2028, especially with global OEMs promoting comfort-focused driving experiences. It’s particularly favored for cold-chain and high-turnover fleet operations.

Power Output Insights

In Vietnam, 250–400 HP segment forms the largest power output category, favored in LDTs and MDTs. Trucks in this range are efficient for urban and regional transport with moderate cargo loads. They are preferred due to their fuel economy, lighter curb weight, and lower emissions. In 2024, nearly 53% of new trucks sold were within this power band. Fleet operators dealing with FMCG, electronics, and furniture shipments are the main buyers. Increased adoption of automatic transmissions in this range is also enabling smoother operation in congested urban zones.

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Regional Insights

Southern Vietnam, anchored by economic hubs like Ho Chi Minh City, Binh Duong, Dong Nai, and Ba Ria–Vung Tau, is the leading region in the high-performance trucks market,. This dominance is fueled by the region’s robust industrial base, dense logistics infrastructure, and high consumption centers. Home to Vietnam’s busiest ports—Cat Lai and Cai Mep–Thi Vai—the south manages the bulk of the country's containerized freight movement. These operations demand powerful heavy-duty trucks (401–550 HP and >550 HP) for long-haul transport to and from ports, industrial zones, and inland logistics hubs. In addition, the strong presence of multinational corporations in industrial parks across Binh Duong and Dong Nai creates high demand for medium-duty trucks for intra-regional delivery and light-duty trucks for last-mile connectivity. Ho Chi Minh City, being a densely populated urban center, also shows growing demand for automatic transmission trucks to navigate its congested roads efficiently. Furthermore, the increasing adoption of cold-chain logistics for agricultural exports and e-commerce fulfillment makes the south a pivotal region for modernizing trucking fleets with connected, fuel-efficient, and low-emission vehicles. Government-led infrastructure upgrades such as the Ring Road 3 and Long Thanh International Airport further ensure sustained truck demand over the coming years.

Recent Developments

• In early 2025, THACO inaugurated its advanced production technology at the Chu Lai plant, launching a new-generation THACO Truck lineup ranging from 1.5 to 14‑ton capacities. These models feature synchronized engine–gearbox–drivetrain systems, with both automatic and manual options, supported by cutting-edge chassis production and SCADA monitoring—marking a leap toward smarter, domestically built high-performance trucks.
• July 2024, THACO AUTO rolled out a nationwide launch of its new-generation trucks. The events also included mobile repair units offering on-site diagnostics and after-sales service—a proactive move to enhance customer support and ensure uptime for high-performing truck fleets.
• In 2024, THACO Group exported nearly 1,200 vehicles—including trucks and buses—to markets such as Cambodia, India, the Middle East, Thailand, and the Philippines, generating approximately USD 13 million. This achievement underscores growing regional confidence in Vietnamese-manufactured high-performance commercial vehicles.
• At the February 2025 Auto & Transport Expo, government officials acknowledged Vietnam’s automotive—especially commercial vehicle—sector as going “global.” THACO’s success, including truck and bus exports worth USD 12.6 million, was highlighted as emblematic of elevated manufacturing quality and international competitiveness.

Key Market Players

• Volvo Trucks
• Scania CV AB
• THACO Trường Hải Group
• Hino Motors Vietnam Co., Ltd.
• Isuzu Vietnam Co., Ltd.
• UD Trucks
• THACO AUTO (Trường Hải Group)
• Ford Vietnam Limited
• Tata Motors Vietnam Co., Ltd.
• TQ Wuling

Report Scope:

In this report, the Vietnam High-Performance Trucks market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Vietnam High-Performance Trucks Market, By Vehicle Type:

o   Light Duty Truck

o   Medium Duty Truck

o   Heavy Duty Truck

• Vietnam High-Performance Trucks Market, By Power Output:

o   250–400 HP

o   401–550 HP

o   >550 HP

• Vietnam High-Performance Trucks Market, By Transmission Type:

o   Automatic

o   Manual

• Vietnam High-Performance Trucks Market, By Region:

o   North Vietnam

o   South Vietnam

o   Central Vietnam

Competitive Landscape

Company Profiles: Detailed analysis of the major companies presents in the Vietnam High-Performance Trucks market.

Available Customizations:

Vietnam High-Performance Trucks market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

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