Vietnam Used Car Market Share

Market Share of Vietnam Used Car Industry

The Vietnamese used car market is dominated by several key players, such as Carmudi Vietnam, Oto, Bonbanh.com, and LSH Auto International Limited. While some prominent players focused on fleet expansion and collaborations, the new entrants are focused on widening their customer base by adopting varying strategies. Social media platforms such as Facebook Marketplace and online auto classifieds portals in Vietnam, such as Oto and Carmudi, have provided high user convenience to buyers looking forward to purchasing a used car as these platforms provide a detailed description of all the listed used cars. For instance,

• In November 2023, the used car trading platform Carpla opened its fifth Automall in the system. The new Automall is located at 138 Pham Van Dong, Hanoi, and boasts an area of over 4,000 m2. It is also the second Automall that has been built in the capital.
• In April 2022, Spinny, a used car buying and selling platform, entered the luxury car used vehicle segment under the Spinny Max brand in the Vietnamese market. The platform will operate nationally and offer over 500 cars from various brands, including Mercedes-Benz, BMW, Audi, Jaguar, and Land Rover, with an all-India delivery service through 250 cities.
• In May 2022, Carsome acquired Malaysian digital automotive content producer WapCar and its sister website Auto Fun for an undisclosed sum. WapCar and AutoFun will become a subsidiary named WapCar AutoFun under Carsome after the completion of the acquisition. The vehicle content platform was set up in 2019, and it runs several websites and social media channels in Malaysia, Indonesia, Thailand, the Philippines, and Vietnam.
• In April 2022, Fram Skandinavien AB announced that it had increased its ownership interest from 67% to 87.2 % in Carmudi Vietnam by netting off the debt from operational financing to Carmudi Vietnam previously.

Vietnam Used Car Market Leaders

1. Bonbanh.com

2. Viet Han Used Cars

3. LSH Auto International Limited

4. Carmudi Vietnam

5. Hien Toyota

*Disclaimer: Major Players sorted in no particular order