The Vietnam used car market reached approximately USD 11.78 Billion in 2025. The market is projected to grow at a CAGR of 14.40% between 2026 and 2035, reaching a value of around USD 45.23 Billion by 2035.
Base Year
Historical Period
Forecast Period
Toyota, a Japanese multinational automotive manufacturer, continues to be the top choice among consumers in the Vietnam pre-owned car market.
The Vietnamese government anticipates a yearly average growth of 14.26% in automobile production from 2021 to 2030.
By 2025, it is anticipated that 9% of Vietnamese households will possess a car and by 2030 it is expected to reach 30%.
Compound Annual Growth Rate
14.4%
Value in USD Billion
2026-2035
*this image is indicative*
| Vietnam Used Car Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 11.78 |
| Market Size 2035 | USD Billion | 45.23 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 14.40% |
| CAGR 2026-2035 - Market by Region | Mekong River Delta | 15.3% |
| CAGR 2026-2035 - Market by Region | South Central Coast | 14.7% |
| CAGR 2026-2035 - Market by Vehicle Type | Electric | 18.4% |
| CAGR 2026-2035 - Market by Vendor Type | Organised | 16.1% |
| Market Share by Region | Red River Delta | 21.3% |
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 Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Vehicle Type
Market Breakup by Body Type
Market Breakup by Sales Channel
Market Breakup by Vendor Type
Market Breakup by Region
| CAGR 2026-2035 - Market by | Vehicle Type |
| Electric | 18.4% |
| Conventional | 11.3% |
| Hybrid | XX% |
| CAGR 2026-2035 - Market by | Vendor Type |
| Organised | 16.1% |
| Unorganised | XX% |
| CAGR 2026-2035 - Market by | Region |
| Mekong River Delta | 15.3% |
| South Central Coast | 14.7% |
| Southeast | XX% |
| Red River Delta | XX% |
| Others | XX% |
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 2026-2035. 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.
| Market Share by | Region |
| Red River Delta | 21.3% |
| Southeast | XX% |
| Mekong River Delta | XX% |
| South Central Coast | XX% |
| Others | XX% |
Market players are investing heavily in the expansion of offline and online distribution channels to gain a competitive edge.
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In 2025, the market reached an approximate value of USD 11.78 Billion.
The market is estimated to grow at a CAGR of 14.40% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 45.23 Billion by 2035.
The market is being driven by the rise in disposable income and high import taxes on new cars.
The key trends aiding the market include the expansion of online distribution channels and the growth of the automobile sector.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different vendor types considered in the market report include organised and unorganised.
The major players in the market are Kypernet Vietnam Joint Stock Company (Bonbanh.com), Hien Toyota, LSH Auto International Limited, Viet Han Used Car, Carmudi.vn, Viet Ventures (Vietwheels), and Siam Motor World, among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Vehicle Type |
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| Breakup by Body Type |
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| Breakup by Sales Channel |
|
| Breakup by Vendor Type |
|
| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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