Vietnam Used Car Industry Research Report 2025-2034

The used car industry refers to the industrial system of circulation, resale, replacement, evaluation, after-sales service and remarketing of used and first-registered motor vehicles, which is an important part of the full life cycle management of automobiles. With the continuous expansion of the global automobile ownership and the gradual change of consumer consumption concept from "buying new products" to "prioritizing cost performance", the used car market is developing rapidly and has become a key force in promoting the sustainable development of the automobile industry.

The industrial chain of the used car industry covers multiple links, including vehicle supply, evaluation and pricing, transaction circulation, after-sales service and remanufacturing. CRI analysis shows that the upstream mainly includes vehicle source acquisition, such as personal vehicle replacement, leasing or online car-hailing recycling, and corporate fleet retirement.

The midstream involves vehicle inspection, valuation assessment, vehicle condition preparation, pricing and display, which are usually completed by used car platforms, evaluation agencies or dealers. The downstream includes sales channels (online platforms, offline showrooms), financial services (installment payments, car loans), insurance and transfer services, and some vehicles also enter the remanufacturing, export or dismantling and utilization links.

The global used car market demand continues to grow and has become a key component of the automotive industry chain. According to CRI analysis, as the global car ownership continues to rise and consumers' acceptance of cost-effective travel methods increases, used cars have gradually evolved from "price supplements" to mainstream consumer choices. According to CRI analysis, as the global car ownership continues to rise and consumers' acceptance of cost-effective travel methods increases, used cars have gradually evolved from "price supplements" to mainstream consumer choices.

In developed countries such as the United States, Japan and Germany, the volume of used car transactions has long exceeded the sales of new cars, and the market system is relatively mature, covering online platforms, certified car systems, third-party testing, installment finance, after-sales warranty and other diversified services. In emerging markets such as China, India, Brazil, Indonesia, and Vietnam, the increase in car penetration and the increase in residents' consumption capacity are driving the rapid increase in used car sales, and used car transactions are showing a significant growth momentum.

The demand for used cars in Vietnam is growing rapidly. According to CRI analysis, the main driving forces for the growth of Vietnam's used car market include the rise of the middle class and the increase in disposable income, which has prompted consumers to prefer used cars with higher cost performance. At the same time, preferential import tariffs and diversified import sources have reduced the cost of buying cars.

According to CRI data, the legal import of used cars in Vietnam in 2024 exceeded 4 million US dollars, and mainly used passenger cars. The import value of used passenger cars accounts for more than 90% of the total import value, and the import value of used commercial vehicles accounts for less than 10% of the total import value. According to CRI analysis, the main sources of used car imports in Vietnam include the United Kingdom, South Korea, the United States, the Netherlands and other countries.

CRI predicts that driven by policy subsidies, consumption upgrades, and increased car penetration, Vietnam's used car market has significant development potential and is expected to continue to expand rapidly in the next few years.

CRI recommends that global used car traders, trading platforms, used car dealers, and car rental companies conduct timely research on the Vietnamese market and prepare for the layout of the Vietnamese used car market. CRI's Shanghai, China and Hanoi, Vietnam offices will help foreign companies enter the Vietnamese used car market.

Topics covered:

Overview of the Used Car Industry in Vietnam

The Economic and Policy Environment of Used Car Industry in Vietnam

The Market Size of Used Car Industry in Vietnam (2025-2034)

Analysis of Major Used Car Industry Manufacturers in Vietnam

Main Driving Forces and Market Opportunities of Used Car Industry in Vietnam

What are the main driving forces, challenges and opportunities of Used Car industry in Vietnam during the forecast period of 2025-2034?

Which companies are the main players in Vietnam's Used Car industry market and what are their competitive advantages?

What is the expected revenue of Vietnam's Used Car industry market during the forecast period of 2025-2034?

Which part of Vietnam's Used Car industry market is expected to dominate the market in 2034?

What are the main disadvantages facing Vietnam's Used Car industry?

How can foreign capital enter Vietnam's Used Car industry?