Hanoi’s Hot Truck Market: What You Need to Know

“Buying and selling cars – many schemes, much competition.” This common saying among veteran truck drivers on Nguyen Van Cu Street in Long Bien, Hanoi, paints a picture of today’s automotive market: vibrant, full of potential, but also complex.

1. A Diverse Picture of Vietnam’s Automotive Market

The current automotive market is witnessing fierce competition from domestic and foreign giants. From the durable trucks of Thaco Truong Hai and Hyundai to luxury brands like Mercedes, Audi, and BMW, all contribute to a diverse market that caters to a wide range of consumer needs.

1.1. The Rise of the Truck Segment

Amidst a strongly recovering economy and increasing demand for freight transportation, trucks have become the top choice for businesses. In particular, light trucks and pickups, with their flexibility and reasonable prices, are favored in major cities like Hanoi and Ho Chi Minh City.

1.2. Tourist Vehicles: The Race for Market Share

The tourism vehicle segment is also witnessing remarkable breakthroughs. While Japanese brands like Toyota, Honda, and Mazda previously dominated, South Korean brands such as Hyundai and Kia are now gradually asserting their position.

Mr. Le Van Thanh, an automotive market analyst, stated: “The current automotive market is gradually shifting towards fuel-efficient, environmentally friendly vehicles equipped with modern technologies.” (According to the book “The Golden Decade of the Vietnamese Automotive Industry”).