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Report

Vietnam Used Car Market Report and Forecast 2025-2034

Market Report I 2025-06-06 I 130 Pages I EMR Inc.

The Vietnam used car market reached approximately USD 10.30 Billion in 2024. The market is projected to grow at a CAGR of 14.40% between 2025 and 2034, reaching a value of around USD 39.55 Billion by 2034.

Vietnam Used Car Market Growth

The strong economic expansion in Vietnam has resulted in higher disposable incomes, allowing a larger number of individuals to purchase cars. With new car prices staying relatively steep, a significant portion of consumers opt for second-hand cars as a more budget-friendly alternative. Additionally, rapid urbanisation is driving the need for personal mobility solutions, particularly used cars, as urban populations grow and necessitate transportation for work commutes and daily tasks. Trends indicate that by 2040, over half of the country's population is anticipated to live in urban areas.

Moreover, the imposition of high import taxes and fees on new cars in Vietnam results in making them unaffordable for many consumers. As a result, used cars have become a more appealing and budget-friendly alternative. Government regulations that enforce hefty taxes on new car imports directly influence the accessibility of new vehicles, leading consumers to opt for used cars instead.

Furthermore, the presence of appealing financing choices and bank loans for buying used cars has simplified the process for consumers to acquire second-hand vehicles. Financial organisations are progressively providing competitive interest rates for used car financing. Both dealerships and financial institutions are introducing adaptable payment schemes, thus enhancing the feasibility of purchasing pre-owned cars for consumers, consequently driving the market expansion.

Vietnam Used Car Industry Segmentation

"Vietnam Used Car Market Report and Forecast 2025-2034" offers a detailed analysis of the market based on the following segments:

Market Breakup by Vehicle Type:

- Hybrid
- Conventional
- Electric

Market Breakup by Body Type:

- Hatchback
- Sedan
- Sport Utility Vehicle and Multi-Purpose Vehicle

Market Breakup by Sales Channel:

- Online
- Offline

Market Breakup by Vendor Type:

- Organised
- Unorganised

Market Breakup by Region:

- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others

Vietnam Used Car Market Share

Based on the vehicle type, the market is segmented into hybrid, conventional, and electric. The electric vehicle type is projected to grow at 18.4% during 2025-2034. Electric vehicles emit no tailpipe emissions, leading to a substantial decrease in air pollution and greenhouse gas emissions in contrast to internal combustion engine vehicles.

Leading Companies in the Vietnam Used Car Market

Market players are investing heavily in the expansion of offline and online distribution channels to gain a competitive edge.

- Kypernet Vietnam Joint Stock Company (Bonbanh.com)

- Hien Toyota

- LSH Auto International Limited

- Viet Han Used Car

- Carmudi.vn

- Viet Ventures (Vietwheels)

- Siam Motor World

- Others

1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Regions
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Asia Pacific Used Car Market Overview
5.1 Key Industry Highlights
5.2 Asia Pacific Used Car Historical Market (2018-2024)
5.3 Asia Pacific Used Car Market Forecast (2025-2034)
6 Vietnam Used Car Market Overview
6.1 Key Industry Highlights
6.2 Vietnam Used Car Historical Market (2018-2024)
6.3 Vietnam Used Car Market Forecast (2025-2034)
7 Vietnam Used Car Market by Vehicle Type
7.1 Hybrid
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.2 Conventional
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 Electric
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
8 Vietnam Used Car Market by Body Type
8.1 Hatchback
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Sedan
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Sport Utility Vehicle and Multi-Purpose Vehicle
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
9 Vietnam Used Car Market by Sales Channel
9.1 Online
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Offline
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
10 Vietnam Used Car Market by Vendor Type
10.1 Organised
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 Unorganised
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
11 Vietnam Used Car Market by Region
11.1 Southeast
11.1.1 Historical Trend (2018-2024)
11.1.2 Forecast Trend (2025-2034)
11.2 Red River Delta
11.2.1 Historical Trend (2018-2024)
11.2.2 Forecast Trend (2025-2034)
11.3 Mekong River Delta
11.3.1 Historical Trend (2018-2024)
11.3.2 Forecast Trend (2025-2034)
11.4 South Central Coast
11.4.1 Historical Trend (2018-2024)
11.4.2 Forecast Trend (2025-2034)
11.5 Others
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter's Five Forces Analysis
12.2.1 Supplier's Power
12.2.2 Buyer's Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Supplier Selection
13.2 Key Global Players
13.3 Key Regional Players
13.4 Key Player Strategies
13.5 Company Profiles
13.5.1 Kypernet Vietnam Joint Stock Company (Bonbanh.com)
13.5.1.1 Company Overview
13.5.1.2 Product Portfolio
13.5.1.3 Demographic Reach and Achievements
13.5.1.4 Certifications
13.5.2 Hien Toyota
13.5.2.1 Company Overview
13.5.2.2 Product Portfolio
13.5.2.3 Demographic Reach and Achievements
13.5.2.4 Certifications
13.5.3 LSH Auto International Limited
13.5.3.1 Company Overview
13.5.3.2 Product Portfolio
13.5.3.3 Demographic Reach and Achievements
13.5.3.4 Certifications
13.5.4 Viet Han Used Car
13.5.4.1 Company Overview
13.5.4.2 Product Portfolio
13.5.4.3 Demographic Reach and Achievements
13.5.4.4 Certifications
13.5.5 Carmudi.vn
13.5.5.1 Company Overview
13.5.5.2 Product Portfolio
13.5.5.3 Demographic Reach and Achievements
13.5.5.4 Certifications
13.5.6 Viet Ventures (Vietwheels)
13.5.6.1 Company Overview
13.5.6.2 Product Portfolio
13.5.6.3 Demographic Reach and Achievements
13.5.6.4 Certifications
13.5.7 Siam Motor World
13.5.7.1 Company Overview
13.5.7.2 Product Portfolio
13.5.7.3 Demographic Reach and Achievements
13.5.7.4 Certifications
13.5.8 Others

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