Vietnam Sports Utility Vehicle Market Size, Share, Trends and Forecast by Type, Fuel Type, Seating Capacity, and Region, 2025-2033

Vietnam Sports Utility Vehicle Market Overview:

The Vietnam sports utility vehicle market size reached USD 3,453.40 Million in 2024. The market is projected to reach USD 5,022.63 Million by 2033, exhibiting a growth rate (CAGR) of 4.25% during 2025-2033. The market is witnessing consistent growth, fueled by growing consumer demand for flexible, family-oriented vehicles appropriate for both city and rural landscapes. Improved road connectivity, growing disposable incomes, and an increasing aspiration for contemporary lifestyles are driving SUV uptake nationwide. Domestic and foreign players are concentrating on design, comfort, and efficiency to address changing consumer needs. With increasing competition and constant innovations, the Vietnam sports utility vehicle market is on the brink of even more growth in the future, enhancing its overall Vietnam sports utility vehicle market share.

Vietnam Sports Utility Vehicle Market Trends:

Increasing Use of Electrification and Foreign Models

Electrified powertrains, such as hybrids and full electric vehicles, are increasingly shaping consumer purchase decisions in the SUV market of Vietnam. The growing concern for environmental sustainability and governmental incentives for cleaner mobility have motivated more consumers to explore these options. Imported SUVs, with their newer technologies and upmarket features, have also been popular among consumers who desire newer innovations and better specs. In April 2025, imported SUVs significantly outpaced domestically produced ones in some segments as the demand for global products picked up. This trend is bolstered by increasing availability of charging points and better battery technology that enables electric SUVs for use in everyday situations. These cars also tend to offer improved safety and connectivity features that are attractive to younger, technology-friendly consumers. The synergistic impact of growing electrification and the entry of imported models is forming a more dynamic and competitive market scenario. All these developments add positively to Vietnam sports utility vehicle market trends as consumers value sustainability along with versatility and comfort.

SUVs Dominating Consumer Trend

The sports utility vehicle market is still leading others in Vietnam's developing auto market, reflecting a decisive change in purchasing priorities. Buyers are showing greater preference for SUVs due to their flexibility, greater ground clearance, and ability to withstand mixed urban and rural conditions. The trend holds in line with the country's developing road infrastructure and growing household incomes, which are making more buyers overcome compact sedans and hatchbacks. In April 2025, SUVs had the largest sales volume among every vehicle segment, testament to their increasing dominance of consumer demand. These vehicles are also appealing because they can withstand the country's changing weather and road conditions while providing more expansive cabin room for family use. Moreover, the increase in eco-friendly SUV models is capturing attention from environmentally conscious consumers as the number of hybrid and electric models hitting the roads continues to grow. These trends indicate SUV demand is not a niche any longer but a mass choice. Together, these trends indicate robust Vietnam sports utility vehicle market growth underpinned by wider consumer trends and a positive climate for bigger, multi-use cars.

Shifting Lifestyles Drives Demand

As Vietnam undergoes rapid urban expansion and rising middle-class mobility, consumer lifestyles are evolving in ways that increasingly favor sports utility vehicles. Families are prioritizing space, comfort, and flexibility needs that SUVs are uniquely positioned to meet. The design of modern SUVs appeals to both individual and family buyers seeking vehicles suitable for workday commutes, weekend travel, and rural excursions. Additionally, the growth of leisure tourism and interprovincial travel has created more demand for vehicles capable of handling varied road conditions with comfort and ease. Buyers are also gravitating toward SUVs for their commanding road presence and safety features, which are seen as practical benefits rather than luxury add-ons. Across urban and semi-urban regions, there is a visible increase in SUV adoption across multiple income segments, reflecting their growing accessibility. As consumer priorities continue to shift, automakers and dealers are adapting their offerings to reflect these new expectations. Together, these evolving preferences are a strong signal that Vietnam sports utility vehicle market are being shaped as much by lifestyle changes as they are by economic and policy factors.

Vietnam Sports Utility Vehicle Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. The market has been categorized based on type, fuel type, and seating capacity.

Type Insights:

• SUV-C
• SUV-D
• SUV-E
• SUV-F

The report has provided a detailed breakup and analysis of the market based on the type. This includes SUV-C, SUV-D, SUV-E, and SUV-F.

Fuel Type Insights:

• Diesel
• Petrol
• Electric
• Others

A detailed breakup and analysis of the market based on the fuel type has also been provided in the report. This includes diesel, petrol, electric, and others.

Seating Capacity Insights:

• 5-Seater
• 7-Seater
• 8-Seater and Above

The report has provided a detailed breakup and analysis of the market based on the seating capacity. This includes 5-seater, 7-seater, and 8-seater and above.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Vietnam Sports Utility Vehicle Market News:

• July 2025: Škoda Auto has started selling the Kushaq, made‑in‑India, in Vietnam via knock‑down kits assembled locally. This marks the brand’s first locally assembled model in the country. The car is produced through a facility developed in partnership with Vietnamese partner Thanh Cong Group. In coming months, the Slavia sedan will also begin assembly in Vietnam. Škoda already sells imported models like the Karoq and Kodiaq there and aims to deepen its presence through local production and expanded dealership and service networks.
• September 2025: Vietnamese automaker VinFast has entered the Indian market with the launch of two high-end cars. In a major expansion step on the global stage, the company has also set up a manufacturing plant in Tamil Nadu to back its operations. VinFast plans to establish a strong footprint in India through domestic production, product range expansion, and retail growth. The move indicates Vietnam's increasing strength in the international auto sector and deepens two countries' industrial bilateral connection.

Vietnam Sports Utility Vehicle Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam sports utility vehicle market performed so far and how will it perform in the coming years?
• What is the breakup of the Vietnam sports utility vehicle market on the basis of type?
• What is the breakup of the Vietnam sports utility vehicle market on the basis of fuel type?
• What is the breakup of the Vietnam sports utility vehicle market on the basis of seating capacity?
• What is the breakup of the Vietnam sports utility vehicle market on the basis of region?
• What are the various stages in the value chain of the Vietnam sports utility vehicle market? 
• What are the key driving factors and challenges in the Vietnam sports utility vehicle market?
• What is the structure of the Vietnam sports utility vehicle market and who are the key players?
• What is the degree of competition in the Vietnam sports utility vehicle market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam sports utility vehicle market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam sports utility vehicle market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam sports utility vehicle industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.