Vietnam Automotive Loan Market Share, Trends, Analysis, Opportunity, Size, Demand & Forecast

Growing economies of Tier 2 cities in Vietnam, digitalization of banking and non-banking financial institutions, and partnership of various automotive brands with financing institutions are the leading factors driving the Vietnam Automotive Loan Market during the projected period. According to TechSci Research report, “Vietnam Automotive Loan Market–Industry Size, Share, Trends, Competition, Opportunity, and Forecast, 2018-2028F”, The Vietnam automotive loan market is expected to grow at a fast rate during the forecast period owing to factors such as rising development expanding economy, increasing consumer demand, and lowering interest rates are the factors that are driving the sales of commercial vehicle and make the most of business opportunity, which is driving the demand of automotive loan industry during the forecast period in Vietnam. Additionally, digitalization, infrastructure growth, regional connectivity, economic expansion by increased exports & foreign investment, and rising demand for buses and commercial vehicles as a result of better roads & highways are the main factors driving the growth of the auto finance market.

The Important Factors of the Vietnam Automotive Loan Market

Automotive loans are highly competitive owing to the market's extreme fragmentation. The majority of financial institutions are situated in Hanoi and Ho Chi Minh City respectively, in the northern and southern areas of Vietnam, which serve as the country's financial and commercial centers. In order to increase their customer base, banks, and consumer financial institutions plan to expand into tier 2 cities across the country such as Hai Phong, Da Nang, and Bien Hoa. Retail or small-scale as well as institutional or large-scale consumers in Vietnam are among those who take automotive loans in Vietnam.


The loans are utilized for a variety of purposes, including personal, business, industrial, pick-up and drop-off services, public transportation, and others. The automotive loan market is expanding since a larger portion of the population can now afford automotive loans due to the reduction in interest rates.


Moreover, to better accommodate the rise in the number of people owning passenger cars, the government has concentrated on upgrading the infrastructure across the entire country. For instance, in Vietnam, 243 km of new or renovated primary and secondary access roads have been built as a result of the urban development project that was carried out in collaboration with the World Bank. The government has also built multiple roadways across the country, which has increased transportation capacity and decreased accident rates. Customers have been attracted to buy more passenger and commercial vehicles because of these advancements. Consequently, these factors have developed the automotive loan market.


Browse over XX market data Figures spread through XX pages and an in-depth TOC on the "Vietnam Automotive Loan Market"


The Vietnam automotive loan market is segmented on vehicle type, provider type, percentage of amount sanctioned, tenure, and region.


On the basis of vehicle, two-wheeler loan, passenger cars, and commercial vehicle loan is available which helps an individual to buy motorcycle and scooter, passenger car which includes hatchback, sedan, SUV and MPV in an individual take a loan to buy passenger cars, and lay it later with EMIs. A commercial vehicle loan gives money to borrowers so they can purchase a vehicle for business use. Commercial vehicles include trucks which can be light-duty trucks, medium-duty trucks, and heavy-duty trucks. It includes vans and buses as well, as they are also commercial vehicles. The automotive loan is primarily provided through banks, NBFCs (non-banking financial companies, OEM (original equipment manufacturers), and others (fintech companies) over a specified tenure and interest rate.

On the basis of vehicle type, the market is divided into two-wheeler, passenger cars, and commercial vehicles. Among them, passenger cars are the fastest growing owing to the rising GDP per capita in Vietnam, along with infrastructure advancements and the rise in social recognition that comes with car ownership.

Based on provider type, the market is further segmented into banks, NBFCs (non-banking financial companies), OEM (original equipment manufacturers), and others (fintech companies). Among these, the banks and their subsidiaries lead the market in terms of the number of existing automotive loans because of their stable financial basis and high level of customer trust in the execution of their services. However, the NBFCs only accounted for a limited share of the percentage in the market.


Furthermore, based on a percentage of the amount sanctioned, the market is segmented into less than 25%, 25-50%, 51-75%, and more than 75%. On the basis of tenure, the market is segmented into less than 3 years, 3-5 years, and more than 5 years. On the basis of region, the market is divided among North Vietnam, South Vietnam, and Central Vietnam.

Key market players in the Vietnam automotive loan market include:

  • Joint Stock Commercial Bank For Foreign Trade Of Vietnam (Vietcom Bank)
  • Tien Phong Commercial Joint Stock Bank
  • Vietnam International Commercial Joint Stock Bank VIB
  • Vietnam Technological and Commercial Joint Stock Bank (Techcombank)
  • Toyota Financial Services Vietnam Company Limited
  • HD SAISON Finance Co., Ltd .
  • Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank)
  • Shinhan Bank Vietnam Limited
  • Bank for Investment and Development of Vietnam
  • Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank)


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“With the rising digitalization, infrastructure growth, regional connectivity, economic expansion by increased exports & foreign investment, and growing demand for buses and commercial vehicles as a part of infrastructure development for the general public is a result of better roads & highways, which is driving the growth of the automotive loan market. Moreover, the market is expanding since a larger portion of the population is now more reliant on automotive loans due to the reduction in interest rates. Moreover, the rising demand for new vehicles and used vehicles is expected to drive the market growth during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Vietnam Automotive Loan Market Segmented By Vehicle Type [Two-Wheeler, Passenger Car, Commercial Vehicle], By Provider Type [Banks, NBFCs (Non-Banking Financial Companies, OEM (Original Equipment Manufacturer), Others (Fintech Companies)], By Percentage of Amount Sanctioned [Less than 25%, 25-50%, 51-75%, More than 75%], By Tenure [ Less than 3 Years, 3-5 Years, More than 5 Years], By Region, By Company, Forecast & Opportunities, 2018-2028Fhas evaluated the future growth potential of the automotive loan in the Vietnam market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Vietnam automotive loan market.



Mr. Ken Mathews

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