Fast growing middle class population, government regulation on motorbikes and affordability of used vehicles will contribute to the growth of used car industry, despite slowdown post-2018: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Buy Now Import Tax Reduction and Free Trade Agreements In order to support the growth of automotive industry in motorcycle dominated Vietnam, the government, post 2018, has implemented policies and regulations for the reduction of new car prices. Import tax reduction to 0% for automotive parts and components from ASEAN region to free trade agreements signed with European Union extensively supports the sales of new passenger vehicles from foreign brands, acting as a deterrent to the used car industry. Coupled with that, the reduction of vehicle registration fees by 50% for domestically assembled and produced vehicles has contributed to the development of the domestic automotive manufacturing industry such as Vinfast negatively impacting the used car ecosystem. Lack of Supporting Industries Vietnam suffers from a poor localization rate due to underdevelopment of the supporting industries. For cars, the localization rate stood at a meagre 7-10% as of 2021, which is considerably lower than the fellow ASEAN countries of Thailand and Malaysia. As of 2021, there are currently ~100 Tier 1 Suppliers and less than 150 Tier 2 and Tier 3 spare parts supplier in Vietnam, which is considerably low considering 30,000 spare parts are required on an average to build a passenger vehicle. The lack of development of the supporting industries especially spare parts market, acts as a deterrent for repair services of used cars as it increases customer waiting time. Competitive Landscape in Vietnam Used Car Market Vietnam’s used car market is highly fragmented with presence of large number of organized and unorganized multi brand dealers. Integration of online classified platforms such as Carmudi and Bonbanh in recent years along with the presence of captive dealers restricts the dominance of single player in the market. A notable shift in consumer preference post COVID-19 has contributed in the emergence of online ecosystem. Dealership networks which depends on the sales through their retail network is establishing their online presence in order to gain traction across Vietnam. Therefore, one of the important areas of competition would be the online visibility of players in coming years. Captive, multi brand and classified players compete on the basis of services offered such as vehicle inspection & valuation, financing & warranty facilities and quality checks among others. Impact of COVID-19 on Used Car Industry Even though the used car industry post 2018 has witnessed a decline in sales volume, but the advent of COVID-19 is contributing towards the positive outlook of the industry. Increased awareness on health and hygiene is acting as a catalyst for the shift in consumer’s preference from availing public transportation to private transportation medium. The shift in consumer’s preference is expected to contribute in the growth of passenger vehicle sales in coming years. Coupled with that, government initiatives to ban motorbikes by 2030 and development of road infrastructure facility is contributing in the shift towards consumer adapting to passenger vehicles compared to historically prevalent motorbikes. The publication titled ‘Vietnam Used Car Market Outlook to 2026: Driven by growing disposable income and shifting consumer preference from two-wheelers to four-wheelers” covers the overview of used car industry by analyzing historical statistics and corresponding developments in the used car market. Reduction of import tax to 0% for cars imported from ASEAN region, free trade agreements signed with European Union and support to the domestic automotive industry have subsequently deterring the growth of used car market post 2018. However, initiatives such as ban on motorbikes, fast growing middle class population and affordability of used vehicles is expected to contribute to the surging growth of the industry in coming years. Given the fragmented completion structure in the used car market, analysts have elaborated on competitive landscape of major captive dealers, multiband dealers and classified platforms on the basis of services offered and operational parameters. The report also covers a snapshot on online and offline used car business model, value chain analysis, growth drivers, buying decision parameters, business model, SWOT analysis, impact of COVID-19 and risk factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the industry. Further, the report covers overview of the supporting industries such as auto-finance, aftersales and spare parts industry on the basis of market size. The report highlights the pain points of the auto-finance market along with detailed company profiles of major banking institutions and NBFCs. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario. Key Segments Covered in Vietnam Used Car Industry:- Vietnam Used Car Market By Type of Vehicle Sedans SUVs MPVs Hatchbacks Others By Vehicle Age 0-3 years 3-5 years 5-7 ears More than 7 years By Region Northern Central Southern By Price VND 0-200 Million VND 200-400 Million VND 400-600 Million More than VND 800 Million By Mileage 0-30,000 Km 30,000-60,000 Km 60,000-80,000 Km More than 80,000 Km By Vehicle Brand Toyota Ford Kia Honda Hyundai Others By Supply Type Domestic Imported By Mode of Sales Online Offline By Channel Purchase Organized Purchase Non-Organized Purchase By Financed vs Non-Financed By Financing Type Organized Financing Unorganized Financing Vietnam Auto-Finance Market and Auto Insurance Market Total Car Loans Disbursed Total Outstanding Loans Auto-Insurance Market on the basis of Gross Premium Key Target Audience Captive Dealers Multibrand Dealers Classified Players Banks, and NBFCs providing Financing Facilities Automotive Companies Government Bodies Time Period Captured in the Report:- Historical Period: 2015-2021 Forecast Period: 2021-2026F Vietnam Used Car and Auto-Finance Players Major Captive Dealers Thanh Xuan Ford Mercedes Benz An Du Hyundai Dong Do Toyota An Suong Hien Toyota Major Multi Brand Dealers Anycar Viet Han Used Car Hoa Binh Auto Viettin Auto Major Classified Players Oto Bonbanh Carmudi Chotot Choxe Major Banks providing Auto-Financing Facilities VIB Bank TP Bank VP Bank Standard Chartered Vietin Bank Techom Bank Woori Bank Shinhan Bank Major NBFCs and Captive Companies providing Auto-Financing Facilities Mirae Asset Toyota Financial Service BMW Financial Service Key Topics Covered in the Report:- Overview of Vietnam Used Car Market Ecosystem of Vietnam Used Car Industry Vietnam Used Car Online and Offline Business Model Market Size of Vietnam Used Car Industry (Gross Transaction Value and Sales Volume) Market Size of Vietnam Used Car Industry on the basis of B2C, C2B and C2C Sales Channel Vietnam Used Car Industry segmentation (By Type of Vehicle, By Vehicle Age, By Region, By Price, By Mileage, By Vehicle Brand, By Supply Type, By Mode of Sales, By Channel Purchase, By Financed vs Non-Financed and By Financing Type) Cross Comparison of Major Dealers and Classified Players (Vehicle Inspection, Valuation of Car, Car Finance Service, Aftersales Service, Car Warranty Service, Certification, Customer Consulting Service, Workshops, Financing and Warranty Facilities) Company Profile of Captive Dealers, Multi Brand Dealers and Classified Players (Company Profile, Process of Selling Used Cars, Major Services, USP, Financing Facilities, Popular Car Brands, Total Number of Used Car Listings, and Business Model) Growth Drivers and Challenges to Vietnam Used Car Market Industry trends and developments Rules and Regulations by Government Bodies Impact of COVID-19 and Future Outlook of Industry Porter 5 Forces Analysis of Vietnam Used Car Industry SWOT Analysis of Vietnam Used Car Industry Buying Decision Parameters of Consumer’s Overview of Auto-Finance and Auto-Insurance Market in Vietnam Market Size of Auto-Finance and Auto-Insurance Market (Total Credits Disbursed, Total Outstanding Loans) Company Profile of Banking Institutions, NBFCs and Captive Auto-Financing Companies (Company Overview, Products, USP, Business Strategy, Loan Amount, Payment Methods, and Interest Rate Charged) Overview of Aftermarket Services Industry in Vietnam Overview of Spare Parts Industry in Vietnam Analyst Recommendation For More Information on the research report, refer to below link:- Vietnam Used Car Market Related Reports:- South Korea Used Car Market Outlook To 2026: Relaxed Government Regulations on Big Companies Entering Used Car Market to Facilitate Increase in the Used Cars Sales and Improve the Organized Market Share Malaysia Used Car Market Outlook To 2025 (Second edition) – Growth of Online Used Car Platforms and increased shift from using public transport to personal cars, fuelled by Covid-19 to accelerate Industry’s Growth Philippines Used Car Market Outlook To 2025 (Second edition): The Pandemic Incited Increased Demand for Used Cars coupled with Increased Internet Penetration provides for Resilience in the Used Cars Market during the Economic Crisis Follow Us:- LinkedIn | Instagram | Facebook | Twitter | YouTube Contact Us:- Ken Research Ankur Gupta, Head Marketing & Communications Support@kenresearch.com +91-9015378249 Tags: 2015-2021, Anycar Used Car and Auto Finance Market, BMW Financial Service Used Car and Auto Finance Market, Bonbanh Used Car and Auto Finance Market, Carmudi Used Car and Auto Finance Market, Central Vietnam Used Car Market, Chotot Used Car and Auto Finance Market, Choxe Used Car and Auto Finance Market, Covid-19 Impact Vietnam Used Car Industry, Covid-19 Impact Vietnam Used Car Market, Evaluation Study Vietnam Used Car Market, Evaluation Summary Report Vietnam Used Car Market, Evaluative Survey Vietnam Used Car Market, Hien Toyota Used Car and Auto 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