Vietnam Used Car Market

Best Price Guarantee	Length	Publisher	Published Date	SKU
from $2,950	200 Pages	BlueWeave Consulting	July, 2023	BLWC18132077

Best Price Guarantee
Price	from $2,950
Length	200 Pages
Publisher	BlueWeave Consulting
Published Date	July, 2023
SKU	BLWC18132077

Vietnam Used Car Market, By Type of Vehicle (Sedans, SUVs, MPVs, Hatchbacks); By Vehicle Age (0–3 years, 3–5 years, 5–7 years, more than 7 years); By Mode of Sales (Online, Offline); By Channel Purchase (Organized Purchase, Non-organized Purchase); By Mileage (0–30,000 Km, 30,000–60,000 Km, 60,000–80,000 Km, More than 80,000 Km); By Region (Northern, Central, Southern), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

Vietnam Used Car Market Size Booming to Reach USD 23.12 Billion by 2029

Vietnam used car market is rapidly growing due to increasing disposable income, growing middleclass population, rapid urbanization, growing demand for affordable transportation, improved financing options, and a shift toward owning private vehicles for convenience and mobility.

BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam used car market size at USD 7.87 billion in 2022. During the forecast period between 2023 and 2029, Vietnam used car market size is to grow at a robust CAGR of 16.77% reaching a value of USD 23.12 billion by 2029. As cost and accessibility have improved, there has been a considerable rise in demand for used cars, which is the main reason fueling the expansion of the Vietnam used car industry. A growing middle class and more disposable incomes are responsible for this expansion. Also, there has been a shift towards using internet markets and classified websites as a means of purchasing and selling old cars. Due to their dependability and affordable prices, secondhand car imports, mainly from Japan and South Korea, have increased significantly. As the nation's environmental consciousness grows, there is an increasing preference for secondhand cars that are environmentally friendly and fuel-efficient. The used car industry in Vietnam is generally undergoing dynamic changes due to shifting consumer preferences.

Vietnam Used Car Market – Overview

Used cars refer to vehicles that have been previously owned by one or more individuals before being offered for resale. They are an alternative to purchasing new cars and are popular due to their lower price points and potential for cost savings. Used car markets are diverse, offering a wide range of makes, models, and conditions to cater to different budgets and preferences. Buyers can choose from dealerships, online platforms, or private sellers to find their desired used car. While some used cars may have higher mileage or show signs of wear, others are well-maintained and offer excellent value. Conducting thorough inspections and vehicle history checks is crucial to ensure a reliable and satisfactory purchase.

Impact of COVID-19 on Vietnam Used Car Market

The COVID-19 pandemic significantly impacted Vietnam's used car market, reshaping the industry's landscape. With travel restrictions and economic uncertainties, demand for second-hand vehicles experienced a temporary slump, leading to a decline in sales and prices. Consumers shifted their priorities towards essential goods and services, causing a slowdown in the automotive sector. However, as the situation gradually improves, the market shows signs of recovery, driven by increased affordability and a desire for personal transportation. The pandemic also spurred the adoption of digital platforms for buying and selling used cars, revolutionizing the industry's traditional practices and paving the way for a more resilient and tech-driven future.

Vietnam Used Car Market – By Vehicle Age

On the basis of vehicle age, Vietnam used car market is divided into 0–3 years, 3–5 years, 5–7 years, and more than 7 years segments. In the Vietnam used car market, the largest segment is the "more than 7 years" category. This segment encompasses vehicles that are older than 7 years. It represents a significant portion of the market and indicates a demand for more affordable and budget-friendly options. The popularity of this segment can be attributed to factors such as lower prices and a wider range of vehicle choices. However, it's worth noting that the market is also divided into other segments, namely 0–3 years, 3–5 years, 5–7 years, each catering to different customer preferences and budgets.

Competitive Landscape

Vietnam used car market is fiercely competitive. Major companies in the market include Thanh Xuan Ford, Mercedes Benz An Du, Hyundai Dong Do, Toyota An Suong, Hien Toyota, Anycar, Viet Han Used Car, Hoa Binh Auto, Viettin Auto, Oto, Bonbanh, Carmudi, Chotot, and Choxe. These companies use various strategies, including increasing investments in their R&D activities, mergers, and acquisitions, joint ventures, collaborations, licensing agreements, and new product and service releases to further strengthen their position in Vietnam used car market.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of Vietnam Used Car Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in Vietnam Used Car Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

1. Research Framework: 1.1. Research Objective; 1.2. Product Overview; 1.3. Market Segmentation
2. Executive Summary
3. Vietnam Used Car Market Insights: 3.1. Industry Value Chain Analysis; 3.2. DROC Analysis; 3.2.1. Growth Drivers; 3.2.1.1. Rising Disposable Income and Middle-Class Population; 3.2.1.2. Increasing Demand for Affordable Transportation; 3.2.1.3. Expanding Urbanization and Infrastructure Development; 3.2.2. Restraints; 3.2.2.1. Lack of Trust and Transparency in the Used Car Market; 3.2.3. Opportunities; 3.2.3.1. Growing Online Marketplaces and Digital Platforms; 3.2.3.2. Demand for Environmentally Friendly and Fuel-Efficient Vehicles; 3.2.4. Challenges; 3.2.4.1. Counterfeit and Fraudulent Practices in the Used Car Market; 3.2.4.2. Lack of Standardization and Quality Control; 3.3. Technological Advancements/Recent Developments; 3.4. Regulatory Framework; 3.5. Porter’s Five Forces Analysis; 3.5.1. Bargaining Power of Suppliers; 3.5.2. Bargaining Power of Buyers; 3.5.3. Threat of New Entrants; 3.5.4. Threat of Substitutes; 3.5.5. Intensity of Rivalry; 3.6. Price Point Analysis: Global Automotive Memory, 2019-2022
4. Vietnam Used Car Market Overview: 4.1. Market Size & Forecast by Value, 2019–2029; 4.1.1. By Value (USD Billion); 4.2. Market Share & Forecast; 4.2.1. By Type of Vehicle; 4.2.1.1. Sedans; 4.2.1.2. SUVs; 4.2.1.3. MPVs; 4.2.1.4. Hatchbacks; 4.2.1.5. Others; 4.2.2. By Vehicle Age; 4.2.2.1. 0–3 years; 4.2.2.2. 3–5 years; 4.2.2.3. 5–7 ears; 4.2.2.4. More than 7 years; 4.2.3. By Mode of Sales; 4.2.3.1. Online; 4.2.3.2. Offline; 4.2.4. By Channel Purchase; 4.2.4.1. Organized purchase; 4.2.4.2. Non-organized Purchase; 4.2.5. By Mileage; 4.2.5.1. 0–30,000 Km; 4.2.5.2. 30,000–60,000 Km; 4.2.5.3. 60,000–80,000 Km; 4.2.5.4. More than 80,000 Km; 4.2.6. By Region; 4.2.6.1. Northern; 4.2.6.2. Central; 4.2.6.3. Southern
5. Northern Vietnam Used Car Market Overview: 5.1. Market Size & Forecast by Value, 2019–2029; 5.1.1. By Value (USD Billion); 5.2. Market Share & Forecast; 5.2.1. By Type of Vehicle; 5.2.2. By Vehicle Age; 5.2.3. By Mode of Sales; 5.2.4. By Channel Purchase; 5.2.5. By Mileage
6. Central Vietnam Used Car Market Overview: 6.1. Market Size & Forecast by Value, 2019–2029; 6.1.1. By Value (USD Billion); 6.2. Market Share & Forecast; 6.2.1. By Type of Vehicle; 6.2.2. By Vehicle Age; 6.2.3. By Mode of Sales; 6.2.4. By Channel Purchase; 6.2.5. By Mileage
7. Southern Vietnam Used Car Market Overview: 7.1. Market Size & Forecast by Value, 2019–2029; 7.1.1. By Value (USD Billion); 7.2. Market Share & Forecast; 7.2.1. By Type of Vehicle; 7.2.2. By Vehicle Age; 7.2.3. By Mode of Sales; 7.2.4. By Channel Purchase; 7.2.5. By Mileage
8. Competitive Landscape: 8.1. List of Key Players and Their Offerings; 8.2. Vietnam Used Car Company Market Share Analysis, 2022; 8.3. Competitive Benchmarking, By Operating Parameters; 8.4. Key Strategic Development (Mergers, Acquisitions, Partnerships, etc.)
9. Impact of Covid-19 on Vietnam Used Car Market
10. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook and SWOT Analysis): 10.1. Thanh Xuan Ford; 10.2. Mercedes Benz An Du; 10.3. Hyundai Dong Do; 10.4. Toyota An Suong; 10.5. Hien Toyota; 10.6. Anycar; 10.7. Viet Han Used Car; 10.8. Hoa Binh Auto; 10.9. Viettin Auto; 10.10. Oto; 10.11. Bonbanh; 10.12. Carmudi; 10.13. Chotot; 10.14. Choxe; 10.15. Other prominent players
11. Key Strategic Recommendations
12. Research Methodology: 12.1. Qualitative Research; 12.1.1. Primary & Secondary Research; 12.2. Quantitative Research; 12.3. Market Breakdown & Data Triangulation; 12.3.1. Secondary Research; 12.3.2. Primary Research; 12.4. Breakdown of Primary Research Respondents, By Region; 12.5. Assumption & Limitation; *Financial information of non-listed companies will be provided as per availability; **The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable; Lists of Figures; Figure 1 Vietnam Used Car Market Segmentation; Figure 2 Vietnam Used Car Market Value Chain Analysis; Figure 3 Company Market Share Analysis, 2022; Figure 4 Vietnam Used Car Market Size, By Value (USD Billion), 2019–2029; Figure 5 Vietnam Used Car Market Share, By Type of Vehicle, By Value, 2019–2029; Figure 6 Vietnam Used Car Market Share, By Vehicle Age, By Value, 2019–2029; Figure 7 Vietnam Used Car Market Share, By Modes of Sales, By Value, 2019–2029; Figure 8 Vietnam Used Car Market Share, By Channel Purchase, By Value, 2019–2029; Figure 9 Vietnam Used Car Market Share, By Mileage, By Value, 2019–2029; Figure 10 Vietnam Used Car Market Share, By Region, By Value, 2019–2029; Figure 11 Northern Vietnam Used Car Market Size, By Value (USD Billion), 2019–2029; Figure 12 Northern Vietnam Used Car Market Share, By Type of Vehicle, By Value, 2019–2029; Figure 13 Northern Vietnam Used Car Market Share, By Vehicle Age, By Value, 2019–2029; Figure 14 Northern Vietnam Used Car Market Share, By Modes of Sales, By Value, 2019–2029; Figure 15 Northern Vietnam Used Car Market Share, By Channel Purchase, By Value, 2019–2029; Figure 16 Northern Vietnam Used Car Market Share, By Mileage, By Value, 2019–2029; Figure 17 Northern Vietnam Used Car Market Share, By Region, By Value, 2019–2029; Figure 18 Central Vietnam Used Car Market Size, By Value (USD Billion), 2019–2029; Figure 19 Central Vietnam Used Car Market Share, By Type of Vehicle, By Value, 2019–2029; Figure 20 Central Vietnam Used Car Market Share, By Vehicle Age, By Value, 2019–2029; Figure 21 Central Vietnam Used Car Market Share, By Modes of Sales, By Value, 2019–2029; Figure 22 Central Vietnam Used Car Market Share, By Channel Purchase, By Value, 2019–2029; Figure 23 Central Vietnam Used Car Market Share, By Mileage, By Value, 2019–2029; Figure 24 Central Vietnam Used Car Market Share, By Region, By Value, 2019–2029; Figure 25 Southern Vietnam Used Car Market Size, By Value (USD Billion), 2019–2029; Figure 26 Southern Vietnam Used Car Market Share, By Type of Vehicle, By Value, 2019–2029; Figure 27 Southern Vietnam Used Car Market Share, By Vehicle Age, By Value, 2019–2029; Figure 28 Southern Vietnam Used Car Market Share, By Modes of Sales, By Value, 2019–2029; Figure 29 Southern Vietnam Used Car Market Share, By Channel Purchase, By Value, 2019–2029; Figure 30 Southern Vietnam Used Car Market Share, By Mileage, By Value, 2019–2029; Figure 31 Southern Vietnam Used Car Market Share, By Region, By Value, 2019–2029
List of Tables: Table 1 Vietnam Used Car Market Size, By Type of Vehicle, By Value, 2019–2029; Table 2 Vietnam Used Car Market Size, By Vehicle Age, By Value, 2019–2029; Table 3 Vietnam Used Car Market Size, By Modes of Sales, By Value, 2019–2029; Table 4 Vietnam Used Car Market Size, By Channel Purchase, By Value, 2019–2029; Table 5 Vietnam Used Car Market Size, By Mileage, By Value, 2019–2029; Table 6 Vietnam Used Car Market Size, By Region, By Value, 2019–2029; Table 7 Northern Vietnam Used Car Market Size, By Type of Vehicle, By Value, 2019–2029; Table 8 Northern Vietnam Used Car Market Size, By Vehicle Age, By Value, 2019–2029; Table 9 Northern Vietnam Used Car Market Size, By Modes of Sales, By Value, 2019–2029; Table 10 Northern Vietnam Used Car Market Size, By Channel Purchase, By Value, 2019–2029; Table 11 Northern Vietnam Used Car Market Size, By Mileage, By Value, 2019–2029; Table 12 Northern Vietnam Used Car Market Size, By Region, By Value, 2019–2029; Table 13 Central Vietnam Used Car Market Size, By Type of Vehicle, By Value, 2019–2029; Table 14 Central Vietnam Used Car Market Size, By Vehicle Age, By Value, 2019–2029; Table 15 Central Vietnam Used Car Market Size, By Modes of Sales, By Value, 2019–2029; Table 16 Central Vietnam Used Car Market Size, By Channel Purchase, By Value, 2019–2029; Table 17 Central Vietnam Used Car Market Size, By Mileage, By Value, 2019–2029; Table 18 Central Vietnam Used Car Market Size, By Region, By Value, 2019–2029; Table 19 Southern Vietnam Used Car Market Size, By Type of Vehicle, By Value, 2019–2029; Table 20 Southern Vietnam Used Car Market Size, By Vehicle Age, By Value, 2019–2029; Table 21 Southern Vietnam Used Car Market Size, By Modes of Sales, By Value, 2019–2029; Table 22 Southern Vietnam Used Car Market Size, By Channel Purchase, By Value, 2019–2029; Table 23 Southern Vietnam Used Car Market Size, By Mileage, By Value, 2019–2029; Table 24 Southern Vietnam Used Car Market Size, By Region, By Value, 2019–2029; Table 25 Thanh Xuan Ford Company Overview; Table 26 Thanh Xuan Ford Financial Overview; Table 27 Mercedes Benz An Du Company Overview; Table 28 Mercedes Benz An Du Financial Overview; Table 29 Hyundai Dong Do Company Overview; Table 30 Hyundai Dong Do Financial Overview; Table 31 Toyota An Suong Company Overview; Table 32 Toyota An Suong Financial Overview; Table 33 Hien Toyota Company Overview; Table 34 Hien Toyota Financial Overview; Table 35 Anycar Company Overview; Table 36 Anycar Financial Overview; Table 37 Viet Han Used Car Company Overview; Table 38 Viet Han Used Car Financial Overview; Table 39 Hoa Binh Auto Company Overview; Table 40 Hoa Binh Auto Financial Overview; Table 41 Viettin Auto Company Overview; Table 42 Viettin Auto Financial Overview; Table 43 Oto Company Overview; Table 44 Oto Financial Overview; Table 45 Bonbanh Company Overview; Table 46 Bonbanh Financial Overview; Table 47 Carmudi Company Overview; Table 48 Carmudi Financial Overview; Table 49 Chotot Company Overview; Table 50 Chotot Financial Overview; Table 51 Choxe Company Overview; Table 52 Choxe Financial Overview