Dublin, May 31, 2022 (GLOBE NEWSWIRE) -- The "Vietnam Used Car Market Outlook to 2026 (Second Edition): Driven by Growing Disposable Income and Shifting Consumer Preference from Two-Wheelers to Four-Wheelers" report has been added to ResearchAndMarkets.com's offering.
Vietnam Used Car Market Outlook to 2026 provides a comprehensive analysis of the used car industry by analyzing historical statistics and corresponding developments in the used car market.
The report covers various aspects including used car industry market size on the basis of gross transaction value and sales volume, overview and genesis, value chain analysis, ecosystem, snapshot on online and offline used car business model, growth trends and developments, buying decision parameters, business model, SWOT analysis, Porter 5 Forces Analysis, rules and regulations, impact of COVID-19, business model of Oto, Carmudi and Bonbanh and risk factors governing the future outlook of industry.
Insights on competitive landscape of used car industry and cross comparison between major players operating in the ecosystem namely, captive dealers, multi brand dealers and classified platforms is also covered in the report on the basis of company profile, process of selling used cars, major services, USP, financing facilities, popular car brands, total number of used car listings, vehicle inspection & valuation services, customer consulting services, aftersales services and business model.
Further, the report covers overview of the supporting industries such as auto-finance, aftersales and spare parts industry on the basis of market size (total credit loans disbursed and total outstanding loans).
Vietnam Used Car Market Segmentation
By Type of Vehicle (Sedans, SUVs, Hatchback, MPVs and Others): Sedans accounted for the highest market share of in the year 2021. Sedans remained the most popular car type in the country due to its affordable price and higher average life as compared to Hatchback and MPVs. SUV's accounted the second highest market share followed by Hatchbacks, and MPVs.
By Vehicle Age (0-3 years, 3-5 years, 5-7 years, More than 7 years): Used cars under the age bracket of 0-3 years accounted for highest market share in 2021 attributed to the average depreciation rate of new vehicles in Vietnam which is around 3 years due to poor road condition which leads to wear and tear. The sale of used cars is followed by 3-5 years of vehicle age as these cars have heavy body type, better engine capacity (high horse power) and have high re-sale value.
By Region (Northern, Central and Southern): The northern regions accounted for the highest share in 2021, as this region is prone to floods due to which the average replacement period is usually high and consumers prefer to buy a used car as compared to new cars for ease of replacement. It was followed by the Southern region with the highest population and the remaining market share was captured by the Central region.
By Price (VND 0-200 Mn, VND 200-400 Mn, VND 400-600 Mn, and More than VND 800 Mn): The average ticket size of used cars in Vietnam is growing over the years. The price range of VND 400 Million - VND 600 Million accounted for highest percentage share in 2021 due the faster replacement rate along with the depreciation charged over the years on new vehicles. The average resale price at which Sedan's and SUV's are sold in Vietnam lies within the price band of VND 400-600 million, which are the top two preferred car types by Vietnamese consumers. The advent of COVID-19 negatively impacted the financial condition of consumer's and therefore, demand for high end cars such as Mercedes Benz and Audi which costs more than VND 800 million declined in 2021.
By Mileage (0-30,000 Km, 30,000-60,000 Km, 60,000-80,000 Km, and More than 80,000 Km):
Vehicles not driven for 30,000-60,000 Km are most preferred in Vietnam in 2021. Consumer's purchasing a used vehicle prefers car which has not been used extensively, as the quality of vehicles might drastically fall with the increase in usage.
By Vehicle Brand (Toyota, Kia, Hyundai, Ford, Honda and Others): Japanese and Korean brands are the most preferred brands in Vietnam due to their strong brand preference, reliability, longer life span, and higher re-sale value of the used cars. Toyota dominated the market by accounting highest market share of followed by KIA, Hyundai, Ford and Honda in terms of sales volume. Other brands such as Mitsubishi and Chevrolet captured the remaining market share of used cars sales volume in 2021.
By Supply Type (Domestic and Imported): Domestic supply accounted for the highest share on the basis of sales volume in 2021. Imported supply of used vehicles is financially taxing to the consumers due to various taxes and levy's charged.
By Channel of Purchase (Non-Organized and Organized): Majority of the used car purchases in Vietnam was through unorganized channel. Presence of large number of unorganized multi brand dealers spread across the rural regions of Vietnam contributed to the majority share of unorganized purchases.
By Mode of Sales (Offline and Online): Sale of used cars through offline medium was the preferred choice of consumers. Low internet penetration rate in Vietnam is a major reason for the lack of sales through online medium.
By Financed vs Non-Financed: Non-financed purchases of used car accounted for the highest share on the basis of sales volume in 2021 compared to financed purchases.
Vietnam Used Car and Auto-Finance Players
Major Captive Dealers
Thanh Xuan Ford
Mercedes Benz An Du
Hyundai Dong Do
Toyota An Suong
Major Multi Brand Dealers
Viet Han Used Car
Hoa Binh Auto
Major Classified Players
Major Banks providing Auto-Financing Facilities
Major NBFCs and Captive Companies providing Auto-Financing Facilities
Toyota Financial Service
BMW Financial Service
Key Segments Covered in Vietnam Used Car Industry
Vietnam Used Car Market
By Type of Vehicle
By Vehicle Age
More than 7 years
VND 0-200 Million
VND 200-400 Million
VND 400-600 Million
More than VND 800 Million
More than 80,000 Km
By Vehicle Brand
By Supply Type
By Mode of Sales
By Channel Purchase
By Financed vs Non-Financed
By Financing Type
Vietnam Auto-Finance Market and Auto Insurance Market
Total Car Loans Disbursed
Total Outstanding Loans
Auto-Insurance Market on the basis of Gross Premium
Key Target Audience
Banks, and NBFCs providing Financing Facilities
Time Period Captured in the Report
Historical Period: 2015-2021
Forecast Period: 2021-2026F
For more information about this report visit https://www.researchandmarkets.com/r/hk241f
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