Decision Lab, YouGov's exclusive partner in Vietnam, has released the Decision Lab Automotive Rankings 2024, using the YouGov Index Score, a comprehensive measure of brand health.
Toyota continues to lead as the healthiest automotive brand in Vietnam, with an Index Score of 19.5. Mercedes-Benz (19.1) and Honda (19.0) follow closely behind, securing the second and third positions, respectively. BMW and VinFast round out the top 5, with scores of 18.9 and 17.4.
Looking at the Index scores, it is apparent that there is a significant gap between the top 5 brands and those ranked lower. This disparity suggests that the leading brands have established a more robust brand performance, likely due to factors such as perceived quality, customer satisfaction, and overall reputation.
Download the full Automotive Rankings 2024 report here.
The strong showing of VinFast, a relatively new entrant, is particularly noteworthy. Despite its short history, the Vietnamese automaker has managed to surpass many established global players, achieving not only an increase in its Index score over the period but also leaping to the first position in the northern region. This success can be attributed to VinFast's aggressive marketing strategies and its ability to tap into the growing demand for locally produced vehicles. Moreover, VinFast's innovative approach of venturing into the ride-hailing app market has proven to be a strategic move that has further bolstered its brand metrics and market presence.
Download the full Automotive Rankings 2024 report here.
In the regional rankings, Mercedes-Benz and Toyota demonstrate their widespread appeal by securing position in the top 3 across all regions. BMW and Honda also exhibit strong performances, maintaining their status as favoured brands in the northern, central, and southern areas of the country, highlighting their ability to cater to the diverse preferences and needs of consumers in each distinct market.
Thue Quist Thomasen, CEO at Decision Lab, shared:
“The Decision Lab Automotive Rankings have remained relatively stable this year, with few significant changes in the positions of major brands. However, as Vietnamese consumers tighten their belts and reduce their spending, especially on automobiles, automakers will face new challenges. In light of this shift in consumer behaviour, brands must be proactive in adapting their strategies to navigate the changing market landscape.”
Methodology
The Decision Lab Automotive Rankings 2024 are calculated using data collected daily from YouGov's online panel in Vietnam daily through the flagship YouGov BrandIndex solution.
The rankings utilise the YouGov Brand Index score, a comprehensive measure of brand health calculated by averaging six metrics: Impression, Quality, Value, Reputation, Satisfaction, and Recommendation.
Tracking period: 1st August 2023 – 31st July 2024
Compared to: 1st August 2022 – 31st July 2023
All brands must have a minimum sample size of 100 responses and have been tracked for at least six months to be included in the Rankings.
The scores are representative of the Vietnamese online adult population aged 18+.
All scores are rounded to a single decimal place.
For more insights from Decision Lab Automotive Rankings 2024, download the full report for FREE here.
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