Vietnam Used Car Market Outlook to 2029
By Market Structure, By Manufacturers, By Types of KMs Driven, By Age of Vehicles, By Age of Consumers, and By Region
Report Overview
Report Code
TDR0087
Coverage
Asia
Published
November 2024
Pages
80-100
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Report Overview
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Report Coverage
Verified Market Sizing
Multi-layer forecasting with historical data and 5–10 year outlook
Deep-Dive Segmentation
Cross-sectional analysis by product type, end user, application and region
Competitive Benchmarking & Positioning
Market share, operating model, pricing and competition matrices
Actionable Insights & Risk Assessment
High-growth white spaces, underserved segments, technology disruptions and demand inflection points
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Executive Summary
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Table of Contents
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4.1. Value Chain Process-Role of Entities, Stakeholders, and challenges that they face.
4.2. Revenue Streams for Vietnam Used Car Market
4.3. Business Model Canvas for Vietnam Used Car Market
4.4. Buying Decision Making Process
4.5. Supply Decision Making Process
5.1. New Car Sales in Vietnam, 2018-2024
5.2. New: Used Car Ratio in Vietnam, 2018-2024
5.3. Spend on Public Transportation in Vietnam, 2024
5.4. Number of Used Car Dealers in Vietnam by Location
8.1. Revenues, 2018-2024
8.2. Sales Volume, 2018-2024
9.1. By Market Structure (Organized and Unorganized Market), 2023-2024P
9.2. By Origin of Sale for Organized Dealers (Multi-Brand Dealers, Bank Repossessed Cars, and OEM Organized), 2023-2024P
9.3. By Average Ticket Size, 2023-2024P
9.4. By Region, 2023-2024P
9.5. By Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others), 2023-2024P
9.6. By Type of Fuel (Gasoline, Diesel, Hybrid, and Electric), 2023-2024P
9.7. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2023-2024P
9.8. By Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years), 2023-2024P
9.9. By Mileage (Less than 10k, 10k-20k, 20k-50k, 50k-75k, 75k-100k, Above 100k Kms), 2023-2024P
10.1. Customer Landscape and Cohort Analysis
10.2. Customer Journey and Decision Making
10.3. Need, Desire, and Pain Point analysis
10.4. Gap Analysis Framework
11.1. Trends and Developments for Vietnam Used Car Market
11.2. Growth Drivers for Vietnam Used Car Market
11.3. SWOT Analysis for Vietnam Used Car Market
11.4. Issues and Challenges for Vietnam Used Car Market
11.5. Government Regulations for Vietnam Used Car Market
12.1. Market Size and Future Potential for Online B2C and C2B used car market based on transactions, 2018-2029
12.2. Business Model and Revenue Streams
12.3. Cross comparison of leading online used car Companies basis Company Overview, Revenue Streams, Revenues, Used Car Sales, Operating Cities, Number of Centers, Sourcing and other variables
13.1. Finance penetration Rate and Average Down Payment for Used Cars, 2018-2029
13.2. How the finance penetration rates are changing over the years with reasons
13.3. Type of Car Segment for which Finance Penetration is higher
13.4. Used Car Finance split by Banks/NBFCs/Private Finance companies and Captive Entities, 2023-2024P
13.5. Average Used Car Finance Tenure in Vietnam
13.6. Finance Disbursement for Used Car in Vietnam, 2018-2024P
16.1. Benchmark of Key Competitors in Vietnam Used Car Market including variables such as Company Overview, USP, Business Strategies, Strength, Weakness, Business Model, Marketing Strategy, Global Operations, Pre-Owned Car Sales by Volume, Recent Development, Sourcing, Number of Stores by Cities and Value-Added Services
16.2. Strength and Weakness
16.3. Operating Model Analysis Framework
16.4. Gartner Magic Quadrant
16.5. Bowmans Strategic Clock for Competitive Advantage
17.1. Revenues, 2025-2029
17.2. Sales Volume, 2025-2029
18.1. By Market Structure (Organized and Unorganized Market), 2025-2029
18.2. By Origin of Sale for Organized Dealers (Multi-Brand Dealers, Bank Repossessed Cars, and OEM Organized), 2025-2029
18.3. By Average Ticket Size, 2025-2029
18.4. By Region, 2025-2029
18.5. By Type of Vehicle (Sedan, SUV, Hatchback, Pickup Vans, MPV/AUV, and Others), 2025-2029
18.6. By Type of Fuel (Gasoline, Diesel, Hybrid, and Electric), 2025-2029
18.7. By Brand (Toyota, Mitsubishi, Hyundai, Ford, Nissan, Honda, Isuzu, Suzuki, and Others), 2025-2029
18.8. By Average Replacement Period (0-2 years, 3-4 years, 5-6 years, 6-8 years, and above 8 years), 2025-2029
18.9. By Mileage (Less than 10k, 10k-20k, 20k-50k, 50k-75k, 75k-100k, Above 100k Kms), 2025-2029
18.10. Recommendation
18.11. Opportunity Analysis
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Research Methodology
Step 1:
Ecosystem Creation Map the ecosystem and identify all the demand-side and supply-side entities for the Vietnam used car market. Basis this ecosystem, we will shortlist leading 5-6 producers in the country based upon their financial information, production capacity/volume.
Step 2:
Desk Research Engage in exhaustive desk research by referencing diverse secondary and proprietary databases. This approach enables a thorough analysis of the market, aggregating industry-level insights on sales revenues, number of market players, price level, demand, and other variables.
Step 3:
Primary Research Conduct in-depth interviews with C-level executives and other stakeholders representing various Vietnam used car market companies and end users. This process serves to validate market hypotheses, authenticate statistical data, and extract valuable operational and financial insights from these industry representatives.
Step 4:
Sanity Check Conduct bottom-to-top and top-to-bottom analysis along with market size modeling exercises to assess the sanity check process.
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Frequently Asked Questions
1. What is the potential for the Vietnam Used Car Market?
The Vietnam used car market is poised for substantial growth, reaching a valuation of USD 6.9 Billion in 2023. This growth is driven by factors such as increasing demand for affordable transportation, a growing middle class, and the shift towards more cost-effective vehicle options. The market's potential is further bolstered by the expanding digital landscape which facilitates easier access to a wide range of used vehicles.
2. Who are the Key Players in the Vietnam Used Car Market?
The Vietnam Used Car Market features several key players including Toyota Sure, Hyundai Thanh Cong, Ford Vietnam, and VinFast. These companies dominate the market due to their extensive distribution networks, strong brand presence, and diverse vehicle offerings. Other notable players include various emerging online platforms such as Cho Tot Xe and AnyCar.vn.
3. What are the Growth Drivers for the Vietnam Used Car Market?
The primary growth drivers include economic factors such as the high cost of new cars and economic downturns which make used cars a more attractive option. The expanding middle class in Vietnam, combined with increased urbanization, also contributes to the growing demand for used cars. Additionally, the rise of digital platforms has made it easier for consumers to access a wider selection of vehicles, enhancing market growth.
4. What are the Challenges in the Vietnam Used Car Market?
The Vietnam used car market faces several challenges including quality and trust issues related to the condition and history of used vehicles. Regulatory challenges such as stringent vehicle inspection and emission standards can also impact the availability of older models. Additionally, infrastructure challenges including inadequate dealership networks and the need for improved after-sales services pose significant barriers to market growth.
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