The paradoxes when Vietnamese people choose to buy cars.

Viewing cars as assets rather than just means of transportation, coupled with characteristics in their lifestyle and consumption patterns, Vietnamese people are demonstrating a paradox when choosing to buy cars.

Life today is full of changes and developments, and cars have become a new standard that many Vietnamese people aspire to. Cars are not only a measure of success but are also considered a valuable asset for Vietnamese people. With differences in usage needs and a mindset that views "a car as an asset rather than just a means of transportation," Vietnamese people are exhibiting paradoxical, though not all, but a significant number, in their car choices.

Buying a car based on herd mentality.

Cars are considered a means of transportation for individuals and families, serving their personal and family needs for commuting and work. However, in Vietnam, many people tend to follow the crowd when buying a car. Before purchasing, instead of narrowing down their options to compare design, technology, and performance against their actual needs, car buyers in Vietnam often make choices based solely on popular opinions.

Most first-time car buyers in Vietnam are often quite hesitant when choosing a model. They usually calculate, consider, and seek opinions from relatives who have owned cars before or from sales staff. However, when making a final decision, to be "safe," many people often choose to follow the crowd mentality, relying on whispered opinions: This car is popular, holds its value well, is easy to use, and replacement parts are cheap…

This is one of the factors that dominates the Vietnamese automotive market. In the same segment, there are many comparable options in terms of technology and features, but in reality, only one or two models truly achieve success in the market.

Buying a car to resell it rather than to drive it.

Taxes and fees significantly drive up car prices in Vietnam compared to other countries worldwide. In reality, Vietnamese consumers tend to prioritize economic efficiency, brand value, and resale value over features, convenience, and driving experience when buying a car.

That's why a highly-rated new-generation Mitsubishi Pajero Sport, a powerful and modern Ford Everest, or even a model renowned for its durability like the Isuzu mu-X… still can't compete with a Toyota Fortuner, which has generated considerable controversy regarding its safety. Simply put, for many, "buy a Fortuner, drive it for a while, and still make a profit when you sell it!"

This perspective of Vietnamese car consumers has partly contributed to the rise of Japanese car models in Vietnam. Considering their popularity, brand value, and ability to retain value, Japanese cars completely overshadow other models on the market.

Prioritizing aesthetics over convenience and safety.

When cars are viewed as assets rather than just means of transportation, many people prioritize aesthetics over the comfort and safety the vehicle provides for themselves and their families when buying a car.

Many people are willing to spend extra money on accessories that don't offer much practical use, such as plastic bumper covers, fuel tank cap covers, headlight bezels, exhaust pipe covers, etc., to "beautify" their cars, while neglecting comfort features like seats, air conditioning, or even safety systems like ABS anti-lock brakes, electronic stability control, and airbags.

In the US and European countries, besides design, features, amenities, and safety technology are always top priorities for consumers when choosing between car models. Simply put, a car isn't just an ornament to show off, express style, or boast; it's a companion that contributes to comfort and safety for users on every journey.

According to TNO