Vietnam Automotive Consumer Trends Overview

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Customer is the heart of every business. To become a flourish dealer, you should understand deeply who your customers are, what they actually need and how you can help them. We called it “customer-centric”. Now, let’s get insight into Vietnamese customer behaviors in automotive market by some of the statistics below:

1. Look back to figure out!

Now, let’s get insight into Vietnamese customer behaviors in automotive market by some of the statistics from the year of 2018 below:

When deciding to purchase a car, Vietnamese customers tend to choose a vehicle which is elegant, economical, easy to move in crowded urban and suitable for a nuclear family. That is why Sedan and Hatchback are the best-selling car segments over the years.

(Source: cafef.vn)

The top-selling car of 2018 award belongs to Toyota Vios (B-class sedan), with 27.118 vehicles were sold during the year. Toyota Vios is famous for its convenience, persistence, popularity and affordability which is from 531 to 606 million dong.

The runner-up is Hyundai Grand i10 (A-class hatchback), which is considered as a basic car for starters. What makes Hyundai Grand i10 a popular car is the spaciousness and the safety that it contains. Moreover, spending 335 to 420 million dong to own a Hyundai Grand i10 is reasonable and worth-paying.

 

2. Vietnamese people use Vietnamese cars

(Source: VTCNews)

The debuting of Vinfast – the first Vietnam’s automotive manufacturer – has attracted attention from people either in Vietnam or around the world. What happened during the Vinfast sale opening day definitely proved how much excited and supportive Vietnamese people are towards Vietnam’s first car maker, and how effective Vinfast’s marketing plan and promotions are. A salesperson of Vinfast has said: “This is the first time in his life feeling that selling cars is like selling vegetables”. The top-ordering car model is modern, elegant, attractive Lux Sa 2.0 (5-seat SUV) of which listed price is 1.818 billion dong and sales price is 1.286 billion dong.

 

3. Vietnamese general consumer behavior

In such a developing country like Vietnam, car is not only means of transportation but also an asset. That is why people really concern about car depreciation calculated by its brand and model when buying a car. Additionally, Vietnamese people care more about car’s popularity and appearance than its engine or safety. Salespeople should refer to car depreciation and promise to help their customers  selling their used car with good price in the future, consequently, customers would be more convinced and salespeople could increase their chances of closing deals.

Furthermore, in Vietnam, the decision of buying a car may not come from the necessity but from the excitement when seeing others having a fancy one. Therefore, showing them how fabulous and expensive they look if they drive a car to the office everyday or to the coffee shop, shopping center, restaurant on the weekend is truly a smart method that salespeople or marketers should (must) adopt.