According to the General Statistics Office of Vietnam, the number of cars imported into the country increased by 852% in the first quarter of 2019 compared with the first quarter of the previous year. This led to a 31% spike in purchases of cars at the end of the first quarter versus the corresponding quarter in 2018 (with sales of motorcycles falling by 6%), boosting the in-car entertainment category.
Over the review period, sales of in-dash media players mainly came from consumers with older or second-hand cars, who wanted to upgrade their vehicles. In addition, high-priced items registered healthier growth as owners wanted to have their cars equipped with the latest and most trendy devices to improve the overall interior of the car, with reputable brands benefiting from this demand.
In the review period, the consumption of cars increased strongly in urban areas, especially Ho Chi Minh and the capital Hanoi. The young population are the main consumers of in-car speakers.
Caska remains the leading brand in in-car entertainment thanks to its strong position in the in-dash media players category. It has a wide range of products that correspond to the various demands and needs of consumers in Vietnam.
Brands offering greater innovation and facilitating the newest apps will mainly take more share than others among the younger car owner segment. This is because there is high demand for famous apps to relax to, such as Spotify or YouTube.
Depending on their customers, garage owners will often take the initiative and import in-car navigation and in-car speakers from overseas to suit the needs and demands of consumers. There are many car garage shops and car devices shops across the country.
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This industry report originates from Passport, our Consumer Electronics market research database.