Please Wait.....
Report
Vietnam Automotive Loan Market, By Vehicle Type (Two-Wheeler, Passenger Car, Commercial Vehicle), By Provider Type (Banks, NBFCs (Non-Banking Financial Companies), OEM (Original Equipment Manufacturer)), Others (Fintech Companies)), By Percentage of Amount Sanctioned (Less than 25%, 25-50%, 51-75%, More than 75%), By Tenure ( Less than 3 Years, 3-5 Years, More than 5 Years), By Region, By Company, Forecast & Opportunities, 2018-2028F
Market Report (3 business days) I 2023-10-03 I 73 Pages I TechSci Research
The Vietnam automotive loan market is witnessing robust growth owing to the growing number of new financed cars because of consumers' preference shift away from motorcycles to cars and rising purchasing power. This increase can also be attributed to the growing expansion of taxi services in the country with better roads and highways. The rising GDP per capita in Vietnam, along with infrastructure advancements and the rise in social status that comes with car ownership, are all contributing factors to the ongoing increase in demand for passenger cars, which in turn is driving the automotive loan industry in Vietnam.
Automotive loan is a sustainable solution for an individual which allows them to buy a vehicle either for personal use or commercial use if one has not enough savings. By using automotive loans, an individual can purchase a vehicle outright by obtaining out a loan from a bank or another financial institution. Then, over a specified period of time, one must repay the loan in equal monthly instalments together with interest.
According to a report of Vietnam Automobile Manufactures' Association 2021, the total sales of automobiles in Vietnam was around 304,149 units. According to Vietnam Register, there were 4.512 million cars in use as of 2021, or 46 vehicles per 1,000 inhabitants. Vietnamese citizens would need to save money for 12 years to purchase a car worth VND 600 million (USD30,000) with the average monthly income of VND 4.25 million (USD 180) in 2020.Thus, to purchase the vehicle, people are availing loan which in turn is expected to drive the automotive loan market in Vietnam during the forecast period.
Digitalization of Financial Institutions is Fueling the Market Growth
The rate of digitalization in Vietnam is expected to expand in the coming years, as the number of multiple offline and online businesses are significantly shifting toward entering within the automotive loan sector. In Vietnam, digitization has significantly accelerated workflow improvements, reduced risk, faster processing, and enhanced document handling. For instance, with digitalization financial institutions are offering auto credit feature in which the amount of EMI will automatically deduct from the linked account of the borrower. Additionally, a number of blockchain-powered financing solutions are currently being evaluated by insurers and banks, and auto captive lenders are acting as market areas for manufacturer blockchains, which is expected to drive the Vietnam automotive loan market.
Growing Demand for Commercial Vehicles Fuels Market Growth
The demand for commercial vehicles is increasing in Vietnam for transportation and light commercial vehicle is mostly preferred in Vietnam for high volume transportation, low bulk cargo, particularly for the transportation of consumer products, textiles, and other items across short distances. Therefore, sales of commercial vehicles are likely to increase. In Vietnam, the demand for goods through e-commerce is also increasing, which is driving the usage of light commercial vehicles in logistics and opening up new market opportunities in the country. As Vietnam has a middle-income economy, it is expected that most consumers will prefer a longer loan term to buy commercial vehicles because the instalments will be more affordable due to the lower monthly payments which is driving the automotive loan industry in Vietnam.
Growing Purchasing Power of Middle-Class Economy Drives Market Growth
The projected growth of the Vietnamese automotive loan market is attributed to the middle class' rising purchasing power. With the reduction in interest rates, consumers are opting for automotive loan in Vietnam to make purchase of vehicles which is affordable for a larger segment of the population. Additionally, it is anticipated that the rise in vehicle sales in Vietnam would be fueled by the country's expanding population and rising income levels. Thus, with rising disposable income and status, consumers' inclinations are more likely to shift toward purchasing new vehicles through loan, which is anticipated to drive the Vietnam automotive loan market.
Market Segmentation
The Vietnam automotive loan market is segmented on the basis of vehicle type, provider type, percentage of amount sanctioned, and tenure. On the basis of vehicle type, the market is divided into two-wheeler, passenger car, and commercial vehicle. Based on the provider type, the market is segmented into banks, NBFCs (non-banking financial companies), OEM (original equipment manufacturer), others (fintech companies). Based on percentage of amount sanctioned, the market is segmented into less than 25%, 25-50%, 51-75%, more than 75%. On the basis of tenure, the market is segmented into less than 3 years, 3-5 years, and more than 5 years.
Company Profiles
Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcom Bank); Tien Phong Commercial Joint Stock Bank; Vietnam International Commercial Joint Stock Bank VIB; Vietnam Technological and Commercial Joint Stock Bank (Techcombank); Toyota Financial Services Vietnam Company Limited; HD SAISON Finance Co., Ltd; Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank); Shinhan Bank Vietnam Limited; Bank for Investment and Development of Vietnam; Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) are among the major players in driving the market growth of the Vietnam automotive loan market.
Report Scope:
In this report, the Vietnam Automotive Loan market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Vietnam Automotive Loan Market, By Vehicle Type:
o Two-Wheeler
o Passenger Car
o Commercial Vehicle
- Vietnam Automotive Loan Market, By Provider Type:
o Banks
o NBFCs (Non-Banking Financial companies)
o OEM (Original Equipment Manufacturer)
o Others
- Vietnam Automotive Loan Market, By Percentage of Amount Sanctioned:
o Less than 25%
o 25-50%
o 51-75%
o More than 75%
- Vietnam Automotive Loan Market, By Tenure:
o Less than 3 Years
o 3-5 Years
o More than 5 Years
- Vietnam Automotive Loan Market, By Region:
o North Vietnam
o South Vietnam
o Central Vietnam
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Vietnam automotive loan market.
Available Customizations:
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).
1. Introduction
1.1. Product Overview
1.2. Key Highlights of the Report
1.3. Market Coverage
1.4. Market Segments Covered
1.5. Research Tenure Considered
2. Research Methodology
2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations
3. Executive Summary
3.1. Market Overview
3.2. Market Forecast
3.3. Key Regions
3.4. Key Segments
4. Voice of Customer Analysis (B2C Model Analysis)
4.1. Brand Awareness
4.2. Factors Influencing Loan Availing Decision
4.3. Sources of Information
4.4. Challenges Faced After Purchase
5. Vietnam Automotive Loan Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Vehicle Type Market Share Analysis [Two-Wheeler, Passenger Car, Commercial Vehicle]
5.2.2. By Provider Type Market Share Analysis [Banks, NBFCs (Non-Banking Financial Companies), OEM (Original Equipment Manufacturer), Others (Fintech Companies)]
5.2.3. By Percentage of Amount Sanctioned Market Share [Less than 25%, 25-50%, 51-75%, More than 75%]
5.2.4. By Tenure Market Share [Less than 3 Years, 3-5 Years, More than 5 Years]
5.2.5. By Regional Market Share Analysis
5.2.5.1. North Vietnam Market Share Analysis
5.2.5.2. South Vietnam Market Share Analysis
5.2.5.3. Central Vietnam Market Share Analysis
5.2.6. By Top 5 Companies Market Share Analysis, Others (2022)
5.3. Vietnam Automotive Loan Market Mapping & Opportunity Assessment
5.3.1. By Vehicle Type Market Mapping & Opportunity Assessment
5.3.2. By Provider Type Market Mapping & Opportunity Assessment
5.3.3. By Percentage of Amount Sanctioned Market Mapping & Opportunity Assessment
5.3.4. By Tenure Market Mapping & Opportunity Assessment
5.3.5. By Region Market Mapping & Opportunity Assessment
6. Vietnam Two-Wheeler Automotive Loan Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Provider Type Market Share Analysis
6.2.2. By Percentage of Amount Sanctioned Market Share Analysis
6.2.3. By Tenure Market Share Analysis
7. Vietnam Passenger Car Automotive Loan Market Outlook
7.1. Market Size & Forecast
7.1.1. By Value
7.2. Market Share & Forecast
7.2.1. By Provider Type Market Share Analysis
7.2.2. By Percentage of Amount Sanctioned Market Share Analysis
7.2.3. By Tenure Market Share Analysis
8. Vietnam Commercial Vehicle Automotive Loan Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Provider Type Market Share Analysis
8.2.2. By Percentage of Amount Sanctioned Market Share Analysis
8.2.3. By Tenure Market Share Analysis
9. Market Dynamics
9.1. Drivers
9.1.1. Rising Economies of Tier 2 Cities in Vietnam
9.1.2. Growing Purchasing Power of Middle Class Economy
9.1.3. Demand of Commercial Vehicles
9.2. Challenges
9.2.1. Increasing Competition
9.2.2. Bad-Debt issues
10. Impact of COVID-19 on Vietnam Automotive Loan Market
11. Market Trends & Developments
11.1. Increase in Ride-Sharing Services in Vietnam
11.2. Reduction in Interest Rate for of Automotive Loan
11.3. Digitalization of Financial Institution
11.4. Partnership of Various Automotive Providers with Financial Institution
11.5. Growing Sales of Cars
12. SWOT Analysis
12.1. Strengths
12.2. Weaknesses
12.3. Opportunities
12.4. Threats
13. Policy and Regulatory Landscape
14. Vietnam Economic Profile
15. Competitive Landscape
15.1. Company Profiles
15.1.1. Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcom Bank)
15.1.1.1. Company Details
15.1.1.2. Product & Services
15.1.1.3. Financials (As Reported)
15.1.1.4. Key Market Focus & Geographical Presence
15.1.1.5. Recent Developments
15.1.1.6. Key Management Personnel
15.1.2. Tien Phong Commercial Joint Stock Bank
15.1.2.1. Company Details
15.1.2.2. Product & Services
15.1.2.3. Financials (As Reported)
15.1.2.4. Key Market Focus & Geographical Presence
15.1.2.5. Recent Developments
15.1.2.6. Key Management Personnel
15.1.3. Vietnam International Commercial Joint Stock Bank VIB
15.1.3.1. Company Details
15.1.3.2. Product & Services
15.1.3.3. Financials (As Reported)
15.1.3.4. Key Market Focus & Geographical Presence
15.1.3.5. Recent Developments
15.1.3.6. Key Management Personnel
15.1.4. Vietnam Technological and Commercial Joint Stock Bank (Techcombank)
15.1.4.1. Company Details
15.1.4.2. Company Details
15.1.4.3. Product & Services
15.1.4.4. Financials (As Reported)
15.1.4.5. Key Market Focus & Geographical Presence
15.1.4.6. Recent Developments
15.1.4.7. Key Management Personnel
15.1.5. Toyota Financial Services Vietnam Company Limited
15.1.5.1. Company Details
15.1.5.2. Product & Services
15.1.5.3. Financials (As Reported)
15.1.5.4. Key Market Focus & Geographical Presence
15.1.5.5. Recent Developments
15.1.5.6. Key Management Personnel
15.1.6. HD SAISON Finance Co., Ltd
15.1.6.1. Company Details
15.1.6.2. Product & Services
15.1.6.3. Financials (As Reported)
15.1.6.4. Key Market Focus & Geographical Presence
15.1.6.5. Recent Developments
15.1.6.6. Key Management Personnel
15.1.7. Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)
15.1.7.1. Company Details
15.1.7.2. Product & Services
15.1.7.3. Financials (As Reported)
15.1.7.4. Key Market Focus & Geographical Presence
15.1.7.5. Recent Developments
15.1.7.6. Key Management Personnel
15.1.8. Shinhan Bank Vietnam Limited
15.1.8.1. Company Details
15.1.8.2. Product & Services
15.1.8.3. Financials (As Reported)
15.1.8.4. Key Market Focus & Geographical Presence
15.1.8.5. Recent Developments
15.1.8.6. Key Management Personnel
15.1.9. Bank for Investment and Development of Vietnam
15.1.9.1. Company Details
15.1.9.2. Product & Services
15.1.9.3. Financials (As Reported)
15.1.9.4. Key Market Focus & Geographical Presence
15.1.9.5. Recent Developments
15.1.9.6. Key Management Personnel
15.1.10. Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)
15.1.10.1. Company Details
15.1.10.2. Product & Services
15.1.10.3. Financials (As Reported)
15.1.10.4. Key Market Focus & Geographical Presence
15.1.10.5. Recent Developments
15.1.10.6. Key Management Personnel
16. Strategic Recommendations/Action Plan
16.1. Key Focus Areas
16.2. Target Vehicle Type
16.3. Target Provider Type
17. About Us & Disclaimer
(Note: The companies list can be customized based on the client requirements.)
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security