According to the World Bank, Vietnam is currently one of the most dynamic emerging economies in Asia. Nicknamed one of Asia's "tiger cubs," Vietnam’s economy was estimated to grow around 7% in 2021, driven by robust productivity, strong growth in exports and manufacturing, and the resilience shown during the COVID-19 pandemic.

Luxury car sales in Vietnam have continued to rise due to the country’s economic growth, increased household incomes, and the emergence of new entrepreneurs and executives from Vietnam's booming tech sector. According to Statista, the number of ultra-high-net-worth individuals (UHNW) in Vietnam was projected to increase by over 31% between 2015 and 2020.

Statista also estimates that the revenue in the luxury car market is expected to reach $198 million in 2021, with sales of luxury cars forecasted to increase by an additional 4,700 units by 2025. Brands like Mercedes, Lexus, and BMW are becoming increasingly common on the streets of Ho Chi Minh City and Hanoi.

UHNW individuals and the wealthy are gradually moving away from standard cars towards more luxurious vehicles. Owning a luxury car in Vietnam is seen as a status symbol, especially from brands like Ferrari, Bentley, and Rolls-Royce.

The growing luxury car market also presents new opportunities for reputable car dealerships in Vietnam to increase sales and revenues, as affluent consumers have the budget to purchase premium brands and models.

What to Consider When Choosing a Luxury Car

  1. Choose the Right Model and Style for You First, decide on the design and model that best suits your taste and budget.
    For example, if you’re seeking a high-performance sports car, brands like Ferrari or Porsche may appeal to you. However, if you’re in the market for a luxury SUV for safety and practicality, the Range Rover or even the Lamborghini Urus may be more attractive.

  2. Work with Reputable Car Dealerships Only deal with trusted dealerships that have a proven track record and good customer reviews. Also, inquire about warranty and insurance policies. Fortunately, VietWheels has handpicked reputable car dealerships on our website, and you can use this link to explore both new and pre-owned cars available in inventory.

  3. Consider Maintenance Costs Maintenance costs for luxury cars can be high, so make sure to check the dealership’s service and warranty options.

  4. Test Drive Before You Decide Ensure that a driver or mechanic checks the car, and take it for a test drive before you commit. You can easily schedule an appointment with the dealership via our website, and we’ll also help you negotiate the best price on your behalf.

We recommend comparing a few models within the same dealership to find the best car and price that suit your needs. Try to arrange several back-to-back appointments, making it easier to compare cars and seal the deal smoothly with the dealer.

For more tips on choosing the right luxury car for you, feel free to read our article “Choosing the Right Car for You.”

We hope this article has helped you in selecting the right luxury car. Choosing the perfect car is a big decision, so don’t rush into it blindly without doing careful research and planning. At VietWheels, we have a wide selection of high-quality luxury cars in stock.

If you found this article helpful, check out 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. Goodbye, and best wishes!