Vietnam Used Car Market Outlook to 2026 (Second Edition): 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 The publication titled ‘Vietnam Used Car Market Outlook to 2026 (Second Edition): Driven by growing disposable income and shifting consumer preference from two-wheelers to four-wheelers’ provides a comprehensive analysis of the used car industry by analyzing historical statistics and corresponding developments in the used car market. The report covers various aspects including used car industry market size on the basis of gross transaction value and sales volume, overview and genesis, value chain analysis, ecosystem, snapshot on online and offline used car business model, growth trends and developments, buying decision parameters, business model, SWOT analysis, Porter 5 Forces Analysis, rules and regulations, impact of COVID-19, business model of Oto, Carmudi and Bonbanh and risk factors governing the future outlook of industry. Insights on competitive landscape of used car industry and cross comparison between major players operating in the ecosystem namely, captive dealers, multi brand dealers and classified platforms is also covered in the report on the basis of company profile, process of selling used cars, major services, USP, financing facilities, popular car brands, total number of used car listings, vehicle inspection & valuation services, customer consulting services, aftersales services and business model. Further, the report covers overview of the supporting industries such as auto-finance, aftersales and spare parts industry on the basis of market size (total credit loans disbursed and total outstanding loans). The report highlights the pain points of the auto-finance market along with detailed company profiles of major banking institutions and NBFCs. The report also focuses on the Vietnam Used Car Market Segmentation by Type of Vehicle (Sedans, SUVs, MPVs Hatchback and Others); By Vehicle Age (0-3 years, 3-5 years, 5-7 years and More than 7 years); By Region (Northern, Central and Southern); By Price (VND 0-200 Mn, VND 200-400 Mn, VND 400-600 Mn, More than VND 800 Mn); By Mileage (0-30,000 Km, 30,000-60,000 Km, 60,000-80,000 Km and More than 80,000 Km); By Vehicle Brand (Toyota, Ford, Kia, Honda, Hyundai and Others); By Supply Type (Domestic and Imported), By Mode of Sales (Online and Offline); By Channel Purchase (Organized Purchase and Non-Organized Purchase); By Financed vs Non-Financed and By Financing Type (Organized Financing and Unorganized Financing). Vietnam Used Car Market report concludes with projections for the future of the industry including forecasted gross transaction value and sales volume by 2026, and analysts’ take on the future highlighting the major opportunities. Vietnam Used Car Market Overview and Size Vietnam‘s used car market experienced a slow down between 2015 and 2021 on the basis of gross transaction value. The decline in GTV as well as sales volume of used car industry is attributed to various government initiatives to support the growth of domestic automotive industry, and policies implemented such as reduction in import tax to 0% for cars imported from ASEAN region. Historically, motor bikes have always remained the top choice among the consumers due to high concentration of population belonging to rural regions having low purchasing power. However, due to rapid urbanization and fast-growing middle class, the demand for new passenger cars has been growing significantly in recent times which in turn is contributing to the growth of automotive industry. Also, increased awareness on health and hygiene followed by the advent of COVID-19 is acting as a catalyst for the shift in consumer’s preference towards availing private transportation medium compared to public transportation. Leveraging the growing internet penetration rate, various online classified players launched their operation in Vietnam post 2013, such as Oto and Carmudi. The increasing preference of consumers towards availing digital medium for their purchases has enhanced the sales prospect via C2C channel through classified platforms. Vietnam Used Car Market Segmentation By Type of Vehicle (Sedans, SUVs, Hatchback, MPVs and Others): Sedans accounted for the highest market share of in the year 2021. Sedans remained the most popular car type in the country due to its affordable price and higher average life as compared to Hatchback and MPVs. SUV’s accounted the second highest market share followed by Hatchbacks, and MPVs. By Vehicle Age (0-3 years, 3-5 years, 5-7 years, More than 7 years): Used cars under the age bracket of 0-3 years accounted for highest market share in 2021 attributed to the average depreciation rate of new vehicles in Vietnam which is around 3 years due to poor road condition which leads to wear and tear. The sale of used cars is followed by 3-5 years of vehicle age as these cars have heavy body type, better engine capacity (high horse power) and have high re-sale value. By Region (Northern, Central and Southern): The northern regions accounted for the highest share in 2021, as this region is prone to floods due to which the average replacement period is usually high and consumers prefer to buy a used car as compared to new cars for ease of replacement. It was followed by the Southern region with the highest population and the remaining market share was captured by the Central region. By Price (VND 0-200 Mn, VND 200-400 Mn, VND 400-600 Mn, and More than VND 800 Mn): The average ticket size of used cars in Vietnam is growing over the years. The price range of VND 400 Million – VND 600 Million accounted for highest percentage share in 2021 due the faster replacement rate along with the depreciation charged over the years on new vehicles. The average resale price at which Sedan’s and SUV’s are sold in Vietnam lies within the price band of VND 400-600 million, which are the top two preferred car types by Vietnamese consumers. The advent of COVID-19 negatively impacted the financial condition of consumer’s and therefore, demand for high end cars such as Mercedes Benz and Audi which costs more than VND 800 million declined in 2021. By Mileage (0-30,000 Km, 30,000-60,000 Km, 60,000-80,000 Km, and More than 80,000 Km): Vehicles not driven for 30,000-60,000 Km are most preferred in Vietnam in 2021. Consumer’s purchasing a used vehicle prefers car which has not been used extensively, as the quality of vehicles might drastically fall with the increase in usage. Request For Sample Report @ https://www.kenresearch.com/sample-report.php?Frmdetails=NTE1MTg2 By Vehicle Brand (Toyota, Kia, Hyundai, Ford, Honda and Others): Japanese and Korean brands are the most preferred brands in Vietnam due to their strong brand preference, reliability, longer life span, and higher re-sale value of the used cars. Toyota dominated the market by accounting highest market share of followed by KIA, Hyundai, Ford and Honda in terms of sales volume. Other brands such as Mitsubishi and Chevrolet captured the remaining market share of used cars sales volume in 2021. By Supply Type (Domestic and Imported): Domestic supply accounted for the highest share on the basis of sales volume in 2021. Imported supply of used vehicles is financially taxing to the consumers due to various taxes and levy’s charged. By Channel of Purchase (Non-Organized and Organized): Majority of the used car purchases in Vietnam was through unorganized channel. Presence of large number of unorganized multi brand dealers spread across the rural regions of Vietnam contributed to the majority share of unorganized purchases. By Mode of Sales (Offline and Online): Sale of used cars through offline medium was the preferred choice of consumers. Low internet penetration rate in Vietnam is a major reason for the lack of sales through online medium. By Financed vs Non-Financed: Non-financed purchases of used car accounted for the highest share on the basis of sales volume in 2021 compared to financed purchases. By Financing Type (Organized Financing and Unorganized Financing): In terms of used cars sold through financing options, organized financing captured the highest share in 2021. Banking institutions, NBFCs and captive companies such as Toyota Financial Service constitutes the organized financing ecosystem. Overview of Vietnam Auto-Finance Market and Auto-Insurance Market Banking institutions, NBFCs and captive companies are the major entities offering financing facilities to customers willing to purchase used car. Banking institutions dominate the market when it comes to credit disbursal. The leading banks for the used-car segment are VP Bank, TP Bank, VIB and Techcom Bank. Banks like Shinhan Bank and VIB are preferred by the people in general, for their lower interest-rate loans. Vietnam Auto-finance market is expected to expand at a CAGR of ~17.6% in between 2021 and 2025 on the basis of total credit loans disbursed. Growth in auto-insurance market is also expected which is estimated to grow at a CAGR of ~10.8%. Overview of Vietnam Aftersales Service Industry The automotive aftermarket service industry in Vietnam recorded a positive CAGR of ~14.9% on the basis of revenue in between 2015 and 2020. Surging vehicle parcs coupled with fast growing middle class population willing to avail private transportation medium due to increased awareness on health and hygiene followed by the advent of COVID-19 are some of the major determinants for the growth of automotive sector in Vietnam. Overview of Vietnam Spare Parts Aftermarket Industry Vietnam’s spare parts aftermarket industry has been expanding at a CAGR of ~4.2% in between 2015 and 2020. Demand for spare parts is driven by the fast growing middle class shifting their outlook from availing public transport to private transportation medium. As more and more consumers depend on their private transport, there would exist a demand for aftermarket services especially for spare parts replacement. Vietnam’s spare parts industry is majorly reliant on imports, therefore the domestic manufacturing firms have not been able to establish their presence as of 2021. Government initiatives to develop the domestic spare part manufacturing ecosystem will act as a major growth driver for the spare parts aftermarket. 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. Vietnam Used Car Market Future Outlook and Projections The market size on the basis of gross transaction value is expected to grow at a five-year CAGR of ~10.6% by 2026. The market size on the basis of sales volume is also expected to grow at a similar rate. It is anticipated that used car sales volume will be fueled by increasing government initiatives such as EVFTA Agreement and Ban on Motorbikes by 2030, growing middle class population, shift in consumer preference towards availing private transportation medium post COVID-19, increasing disposable income, increasing car replacement rate and growing customer confidence. 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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