The Booming Luxury Car Sector in Vietnam

Luxury Car Sector

Buy a Car –

In this article, the VietWheels team discusses the booming luxury car sector in Vietnam.

According to the World Bank, Vietnam is now one of the most dynamic emerging countries in Asia. Coined as one of the Asian Tiger Cubs, Vietnam’s economy is estimated to grow by approximately 7% in 2021 due to its strong productivity and growth in exports and manufacturing as well as the resilience shown throughout the COVID-19 pandemic.

Luxury car sales in Vietnam are still heating up given the country’s economic growth rate, rising household income and emergence of new entrepreneurs and executives from Vietnam’s technology sector. According to Statista, the number of Ultra High Net Worth (UHNW) individuals in Vietnam is forecast to grow over +31% from 2015 to 2020. Click here and Buy car Vietnam.

Statista also estimate that the revenue in the Luxury Cars market is projected to reach USD198m in 2021 and the luxury car market sector’s sales are expected to increase by 4,700 vehicles in 2025. Luxury brands like Mercedes, Lexus and BMW are becoming increasingly common in the streets of Ho Chi Minh City and Hanoi.

UHNW and wealthy individuals are gradually moving away from ordinary cars to more prestigious vehicles. Owning a luxury car in Vietnam is seen as status symbol especially from luxury car brands such as Ferrari, Bentley and Rolls-Royce.

The growing luxury car market also presents new opportunities for reputable car dealerships in Vietnam grow their sales and revenues faster as wealthy consumers will have the budget to purchase high-end car brands and models

So, what should you look out for when considering the right luxury car?

  1. Firstly, decide what’s model and make is right for you and is in your budget. For example, if you are seeking a high-performance sports vehicle, brands like Ferrari or Porsche may appeal. However, if you are looking for a luxury SUV for safety and utility, then a Range Rover or even the versatile Lamborghini Urus may appeal. Visit here for Vietnam Toyota.
  2. Secondly, shortlist the reputable car dealerships you wish to work with. Make sure to deal with only reputable car dealerships with proven track-records and good customer reviews. Also make sure to ask your dealership about warranties and insurance. Fortunately, VietWheels have hand selected reputable car dealerships on our website and you can use this link to search new and used cars that are in stock.
  3. Consider the maintenance and servicing costs of the vehicle. With high-end vehicles, the cost to maintain and service can be very high, and you should about the servicing and warranty terms with your car dealer.
  4. Lastly, make sure to inspect the car with your chauffer or mechanic and take it out for a spin before committing to purchase the vehicle. You can simply book an appointment with the car dealer using our website and we will also help you negotiate the best price on your behalf.

We suggest seeing a few car models in the same dealership to compare and source the best car model and deal for you. Try to schedule a few appointments back to back; it will make comparing the cars easier and give you a graceful exit from the car dealership.

For more tips on choosing the right luxury vehicle for you please read our article “Choosing the right vehicle for you”.

We hope that this article has helped you pick the right luxury car for you. Choosing the right car for you is a major decision in life and don’t take this lightly or rush into things without careful research and planning. On VietWheels we have plenty of high-quality luxury cars that are in stock.

If you found this article useful, please visit our other News and Reviews. On behalf of the VietWheels team we wish you all the best in finding your next dream car in Vietnam. Tam biet and best wishes

To Top

Pin It on Pinterest

Share This