Severe quality degradation, Grab, Be gradually decline
"Every time I take a taxi for gas, my child and I are drunk on a car because of the unpleasant smell, even vomiting, especially when the driver smokes. Since the electric taxi was available, we have switched to it because the taxi is clean, smooth, odorless and also protects the environment" - Ms. Lan shared.
The car calling market is having clear changes. Old car calling platforms on the market such as Grab and Be are increasingly losing market share as the quality of their vehicles is getting older and degraded, especially the low-cost car service, focusing on 8-12 years old vehicles, both old and unsafe, and strong in smell. The weather and quality of drivers are also plagued by many customers for being uneven, the premises are low while the fare fluctuates unreasonably during rush hour.
On the contrary, electric cars are on the rise, especially the appearance of Xanh SM and VinFast electric cars with a clean, fragrant car fleet, integrated with many smart, modern technologies and superior service quality.
More and more drivers are decided to switch to Xanh SM. Many talented people have also invested in electric vehicles to participate in the Xanh SM Platform. For Mr. Hoang Duc (31 years old, technology driver in Hanoi) - a service car driver for 4 years, at the end of last year, Mr. Duc officially switched to electric cars.
"I sold used cars, because I really felt that customers were starting to criticize gasoline cars, not choosing to open their phones to book cars, some people even directly deleted the app. More and more people are prioritizing modern green and clean vehicles, and turning their backs on poor quality services. I save quite a bit of money on gas. Customers are calling every now and then, so their income has increased compared to before," said Mr. Duc.
Electric vehicles are the top choice
According to Mordor Intelligence, in terms of development prospects in 2025, the Vietnamese technology ride-hailing market is estimated to reach about 1 billion USD this year and may expand to 2.5 billion USD by 2030, with a compound annual growth rate (CAGR) of 19.5% in the period 2025-2030. Meanwhile, Statista forecasts a more optimistic outlook, with the market size could reach $1.88 billion by 2025. These figures show the explosive potential of the technology-based ride-hailing industry in the near future.
However, the figures given in the report "C habit of using car calling services in 2024" published by Q&Me at the end of January 2025 show that old car calling platforms such as Grab and Be will increasingly lose market share because of declining quality.
On the contrary, the trend of moving green by electric vehicles is being supported by society, as evidenced by the SM Green brand that has risen to the No. 1 market share in the fourth quarter of 2024 and is continuing to improve its position in the coming time ( Mordor Intelligence report).
Xanh SM is currently leading in total monthly spending of users on ride-hailing services, surpassed by Grab and Be. Customers using Xanh SM taxi service spend an average of about 541,000 VND/month, while this figure for Grab is 471,000 VND and Be is 438,000 VND - partly showing the trend of prioritizing services of Vietnamese consumers.
Also based on this result, 83% of users were satisfied with Xanh SM's ride-hailing service, followed by Grab (80%) and Be (68%). Revealing why SM Green is popular with Vietnamese people, the report recognizes two important factors that help SM Green attract and retain customers: reasonable prices and a comfortable travel experience.
It is known that in the near future, the market will also be supplemented with a new fleet of Green cars, which will cover all important service segments, helping to create a new turning point, changing the face of the service car market. The market's best revenue sharing policy (90/10 fixed for 3 years), free battery charging for more than 2 years, brings unprecedented benefits to drivers, helping Xanh SM Platform not only attract new drivers but also attract Grab and Be drivers to switch to. Xanh SM is also preparing to launch an additional food delivery service, thereby fully meeting the most essential needs of customers.
According to experts, with the quality of services being affirmed, combined with the ability to cover many more segments, meeting the needs of users, Xanh SM will increasingly be favored by Vietnamese consumers. On the contrary, platforms lacking innovation and quality that are not predicted to gradually fading away, forced to narrow down and even leave the game.
