Vietnam car rental market is expected to showcase a stable growth outlook in the next five years considering stabilizing the economy after the setback of COVID-19, rising foreign investments in the market, recovery of tourism, and also rising population. Vietnam's Car Rental Industry is in the developing stage though the fragmented market is giving both domestic and international companies tremendous opportunities to enter the market and capitalize on technical improvements while also taking the lead in numerous mergers and acquisitions.

After falling by more than 30% in 2020, the Vietnam car rental market including both traditional taxi and ride-hailing service providers witnessed a rise in fuel prices that led to a rise in fare charges and in a result increased ARPU from USD 107 in 2020 to 150 in 2021.

Impact of COVID-19: The COVID-19 pandemic has significantly changed how people travel. As social isolation becomes the new normal, people are beginning to place greater importance on personal mobility than ever before. This section helps to understand the expected after-effects of the changes brought by COVID-19 in terms of consumer preferences and spending power.


Further Key Findings about India Corrugated Box Market:-
Infrastructure Development in Vietnam
This will fuel business opportunities and so as the taxi market will benefit The Vietnamese government spends 6% of its GDP on infrastructure, compared to other countries in the region which spend 2.3 percent. This makes Vietnam the number one country in ASEAN when it comes to infrastructure investment.

Cost of Renting a Car in Vietnam
Renting a car in Vietnam is expensive compared to most other modes of transportation. This is mainly due to the affordable and accessible public transportation system that runs throughout the country.

Increasing Inflation Rate, 2021
A 3.9% inflation rate was recorded in September 2021, up from a 2.9% rate in August 2021. Inflation reached its highest level since March 2020 in September.

Contribution of Tourism
As one of the main contributors to the Vietnamese economy, travel and tourism plays a key role. There is a rise in domestic tourist in the country after the virus outburst however international tourist arrival rate is still low.


Vietnam Car Rental Market–Ride Hailing and Taxi Services Outlook (2018-2027) is the latest edition published by Makreo research. In presence of uncertain economic conditions and dynamically changing competition in the market it is essential to stay updated with the current market developments therefore the report contains all major aspects of the industry. Report provides detailed analysis of the Vietnam car rental market with further discussion on ride hailing industry and traditional taxi market. The report also covers market performance by major cities in Vietnam. A detailed assessment has been carried out that helps the reader to review past, present and future outlook of the industry. After the COVID-19 outburst, market has experienced many changes from rise in fuel price, hike in fare to shift in consumer demand therefore it is essential to understand the future growth trend of the industry.

Key topics discussed in the report:
Vietnam Car Rental Market
 By Type of Service Providers
- Traditional Taxi Services
- Ride-Hailing Services
 By Type of Services
- Self-Driven
- Chauffeur Driven
 By Cities


Major Companies Discussed in Vietnam Car Rental Market Report
Vietnam Sun Corporation (Vinasun)
Mai Ling Group
Vina (Vietnam) Rent A Car
Avis Vietnam
Budget Vietnam
Grab Vietnam
Aber
Go-Jek
FastGo
VATO
Mass Vehicle Ledger chain (MVL)
Xelo Vietnam

For more information on the research report, refer to below link:
https://www.makreo.com/report/vietnam-car-rental-market-ride-hailing-and-taxi-services-outlook-2018-2027


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Makreo Research
Ankit Suri
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