Vietnam Used Car Market Size Share Growth Trends 2025-2033
Vietnam Used Car Market Overview
Base Year: 2023
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 15.39% (2025-2033)
The Vietnam used car market in 2024 is growing rapidly, driven by several factors like a rising middle class, government policies, and changes in consumer habits. According to the latest report by IMARC Group, the market is projected to grow at a CAGR of 15.39% from 2025 to 2033.
Vietnam Used Car Market Trends and Drivers:
The used car market in Vietnam is influenced by the rising consumer demand for cost-effective vehicles and the expanding middle-class demographic. The increasing prices of new automobiles attributed to elevated taxes and import tariffs have influenced consumer inclination towards secondhand vehicles. Furthermore, progress in online platforms and digital marketplaces is enhancing the efficiency of the purchasing and selling procedures, facilitating consumer access to a diverse array of options. Business enterprises are taking advantage of this trend by providing certified pre-owned programs and extended warranties to establish credibility and guarantee quality. Furthermore, the government's initiative towards sustainable transportation is promoting the utilization of pre-owned, fuel-efficient vehicles, thus fostering market expansion.
The automotive market for used vehicles in Vietnam is rapidly expanding due to various crucial factors and emerging trends. The enhancement of economic growth, in conjunction with the escalation of disposable incomes, is augmenting consumer purchasing power, thereby rendering cars more accessible to a broader demographic. As a consequence of elevated taxes and fees, new car prices persist at high levels, prompting numerous buyers to explore the more economical alternative of purchasing used cars. The market is additionally profiting from the increasing accessibility of financing alternatives, facilitating consumers' acquisition of pre-owned vehicles.
Furthermore, the cultural trend towards owning vehicles as a symbol of status is driving the growth in the demand for automobiles, including pre-owned ones. The escalating digitalization of the market, alongside the proliferation of online platforms facilitating the purchase and sale of pre-owned vehicles, is effectively optimizing transactions, augmenting transparency, and fostering consumer confidence. Moreover, the growing middle class, especially in urban settings, is fueling the need for used vehicles of superior quality. These trends are anticipated to maintain market expansion, further propelled by the growing inclination towards personal transportation due to heightened apprehensions regarding public health and safety, especially in light of the COVID-19 pandemic. With the maturation of the market, there is an increasing focus on certification and warranties, consequently enhancing consumer confidence when acquiring pre-owned vehicles.
Vietnam Used Car Market Segmentation:
The report provides an analysis of the key trends in each segment of the Vietnam used car market size, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on product and end-use industry.
Vehicle Type Insights:
- Hatchbacks
- Sedans
- Sports Utility Vehicles (SUV) and Multi-Purpose Vehicles (MPVs)
Fuel Type Insights:
- Gasoline
- Diesel
- Others
Booking Type Insights:
- Online
- Offline
Vendor Type Insights:
- Organized
- Unorganized
Regional Insights:
- Northern Vietnam
- Central Vietnam
- Southern Vietnam
For an in-depth analysis, you can refer sample copy of the report:
https://www.imarcgroup.com/vietnam-used-car-market/requestsample
Key highlights of the report:
- Market Performance (2019-2024)
- Market Outlook (2025- 2033)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the report's scope, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence through research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
Arabic
Français
Español
Português
Deutsch
Türkçe
Dutch
Italiano
Russian
Romaian