Skip to main content
  1. Market Insights
  2. Mobility
  3. Passenger Cars

Large Cars - Vietnam

Vietnam
  • Revenue in the Large Cars market is projected to reach US$761m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 1.02%, resulting in a projected market volume of US$801m by 2029.
  • Large Cars market unit sales are expected to reach 18.2k vehicles in 2029.
  • The volume weighted average price of Large Cars market in 2024 is expected to amount to US$44k.
  • From an international perspective it is shown that the most revenue will be generated China (US$106bn in 2024).

The Large Cars Market segment includes family passenger cars of an average footprint around 4.30m2 (46 ft2), an average mass around 1640kg (3620lbs) and a passenger/cargo volume between 3.1 m3 and 3.4 m3 (110 ft3 and 119 ft3). All key figures shown represent the sales of new large cars in the basic configuration in the respective year. Used vehicles are not taken into account, nor is adapted equipment for the new cars sold. The prices and revenues shown as well as the distribution of connectivity, drive types, autonomy levels, and average CO2 emissions are accordingly based on the basic models.

  • European Car Segment: D (Large Cars)
  • US Car Segment: Mid-size Cars
  • Chinese Car Segment: Category B
  • Also known as: Large Family Cars, Intermediate Cars, Compact Executive Cars, Entry-level Luxury Cars

Example models: Audi A4, BMW 3 Series, Citroën C5, Ford Mondeo, Honda Accord, Mazda 6, Mercedes-Benz C-Class, Opel Insignia, Opel Zafira, Škoda Superb, Subaru Forester, Subaru Outback, Toyota Avensis, Volkswagen Passat.

In-Scope

  • Family passenger cars - Large cars
  • Premium large cars

Out-Of-Scope

  • Large SUVs
  • Sports models
Large Cars: market data & analysis - Cover

Market Insights report

Large Cars: market data & analysis

Study Details

    Unit Sales

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Analyst Opinion

    The Large Cars market in Vietnam has been experiencing significant growth in recent years. Customer preferences in Vietnam have shifted towards larger vehicles due to a variety of factors.

    Additionally, local special circumstances and underlying macroeconomic factors have contributed to the development of this market. Customer preferences in Vietnam have been influenced by a growing middle class and increasing disposable incomes. As a result, consumers are seeking larger and more luxurious cars that provide comfort and prestige.

    The desire for larger vehicles is also driven by the need for more space, as families in Vietnam are becoming more nuclear and require vehicles that can accommodate multiple passengers and luggage. Trends in the market indicate that consumers in Vietnam are increasingly opting for SUVs and crossovers. These vehicles offer a combination of spaciousness, versatility, and off-road capabilities, which are appealing to Vietnamese consumers who enjoy outdoor activities and traveling to rural areas.

    Additionally, SUVs and crossovers provide a higher driving position and better visibility, which are valued by Vietnamese drivers in the congested urban areas. Local special circumstances have also contributed to the growth of the Large Cars market in Vietnam. The country's infrastructure has been improving, with the construction of new highways and roads, making it easier for consumers to travel longer distances.

    This has fueled the demand for larger cars that can handle these longer journeys. Moreover, the Vietnamese government has implemented policies to encourage the production and consumption of domestic automobiles, which has further boosted the market for large cars. Underlying macroeconomic factors have played a significant role in the development of the Large Cars market in Vietnam.

    The country's economy has been growing at a rapid pace, leading to an increase in overall purchasing power. This has allowed more consumers to afford larger cars and has contributed to the rising demand for such vehicles. Additionally, low interest rates and favorable financing options have made it easier for consumers to purchase large cars, further stimulating market growth.

    In conclusion, the Large Cars market in Vietnam has experienced significant growth due to shifting customer preferences, local special circumstances, and underlying macroeconomic factors. Consumers in Vietnam are increasingly opting for larger vehicles, particularly SUVs and crossovers, which provide comfort, versatility, and prestige. The country's improving infrastructure and government policies have also contributed to the growth of this market.

    With the continued growth of the middle class and the overall economy, the Large Cars market in Vietnam is expected to continue its upward trajectory in the coming years.

    Technical Specifications

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Notes: Level 0: No automation and very limited driver assistance in the form of automatic emergency braking or blind-spot warning. Level 1: Driver assistance such as cruise control or lane centering. Level 2: Partial automation, including brake and steering support. Level 3: Conditional automation in which the vehicle can perform most driving tasks. In certain scenarios, human intervention is still needed.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Price

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Oct 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on the sales of new passenger cars. Data on the specifications of the sold vehicles is based on the base models of the respective makes.

    Modeling approach:

    Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use company reports and websites, vehicle registries, car dealers, and environment agencies among other sources. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and car stock per capita. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, we use the ARIMA model for the Passenger Cars market. The main drivers are GDP per capita and consumer spending per capita.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development).

    Mobility

    Access more Market Insights on Mobility topics with our featured report

    Large Cars: market data & analysis - BackgroundLarge Cars: market data & analysis - Cover

    Contact

    Get in touch with us. We are happy to help.