Vietnam Used Car Market By Type of Vehicle, Share, Forecast 2022-2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated Vietnam used car market size at USD 7.87 billion in 2022. During the forecast period between 2023 and 2029, Vietnam used car market size is to grow at a robust CAGR of 16.77% reaching a value of USD 23.12 billion by 2029. As cost and accessibility have improved, there has been a considerable rise in demand for used cars, which is the main reason fueling the expansion of the Vietnam used car industry. A growing middle class and more disposable incomes are responsible for this expansion. Also, there has been a shift towards using internet markets and classified websites as a means of purchasing and selling old cars. Due to their dependability and affordable prices, secondhand car imports, mainly from Japan and South Korea, have increased significantly. As the nation's environmental consciousness grows, there is an increasing preference for secondhand cars that...