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Transport Xanh SM Overtakes Grab: Vietnam's Ride-Hailing Revolution
Photo courtesy of Toui Tre In a remarkable shift in Vietnam's ride-hailing landscape, Xanh SM has surged ahead, dethroning Grab to claim the largest market share. This comes as the latest chapter in a decade-long saga of fierce competition and innovation in the passenger transport market. Ten years ago, Grab made a decisive entry into Vietnam with its GrabTaxi model, leveraging smartphone technology and aggressive promotions to outmanoeuvre traditional taxis. The market soon saw a flood of competitors, including Go-Viet (later Gojek), Be, Vato, and ShopeeFood. At its height in 2018-2019, the sector was characterised by hefty discounts and driver bonuses, delighting consumers and attracting drivers in droves. However, many local players were swiftly outpaced by international giants due to financial and operational constraints. Grab evolved into a 'super app', offering multiple services such as GrabCar, GrabBike, GrabFood, and GrabMart. This success was underpinned by advanced data operations and robust partner ecosystems, significantly enhancing merchant and driver revenues. By 2023, user behaviour matured, with local insights into commuting patterns and peak demand giving homegrown apps a fresh competitive edge. This pivotal moment saw Xanh SM entering the scene and rapidly gaining ground. According to Mordor Intelligence’s report, by late 2024, Xanh SM led the app-based taxi market with a 37.41% share, surpassing Grab’s 36.62%. The previous dominance of Grab, Gojek, and Be—which once controlled nearly the entire market—saw a shake-up as Gojek exited Vietnam in 2024. This left Grab and Xanh SM in a two-horse race, with Xanh SM further consolidating its lead to 44.68% market share by mid-2025. In response, Grab has introduced a suite of AI-driven features aimed at enhancing user experience. From family accounts and restaurant vouchers to pre-booked rides and international travel packages, these innovations were unveiled at the GrabX event in Singapore in early 2025. Meanwhile, Be continues to hold a steady position with a 9% market share. Its 'super app' model now boasts 12 integrated services and 10 million users. In 2024, the company saw a 60% increase in transaction value and a 50% boost in users, with most engaging with multiple services extensively. Be Group recently secured $28.2 million (over THB 1 billion) in new funding, aiming to expand its user base and gross revenue significantly by 2026. Despite the competitive pressure, other companies remain determined to penetrate the market. Tada maintains its presence in Ho Chi Minh City with a zero-commission policy, while delivery giant Lalamove expanded into passenger transport in August 2024. Additionally, Estonia-based Bolt is preparing its entry, promising low commissions and attractive user discounts. Vietnam's app-based transport market continues to be an exciting arena of innovation and competition. As user preferences evolve, domestic and international players alike are navigating the changing tides with strategic manoeuvres and novel services, ensuring that the race for dominance remains as dynamic as ever. Adapted by ASEAN Now from Toui Tre 2025-08-15 -
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Is it possible to block blocked users posts on the popular list
Understand - how about this - only posts started by Thaiger get on the topics list. I have absolutely no interest in participating in 'how much should you pay a girl if you stop her working' NOR '7eleven' which has 0 responses so far. Other posts listed in 'latest posts' or 'popular' are OK. But please top of the page topics exclude the 'fanatics'. -
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question about solar panel life span and total output
My answer: YES Reason: Electronic junctions probably degrade quicker if exposed to consistent high temperatures. -
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Booking hotel - interesting breakfast inclusion issue
I must have made umpteen bookings through Agoda over the years all inc. breakfast....never any issues. -
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Traffic Pattaya's Helmet Dilemma: German Tourists Weigh In
I genuinely don't understand why anyone would ride without a full-face helmet. People can get seriously injured even in a slow-speed tipover. In my early days of riding, I once face-planted during a low-speed U-turn. Thankfully, my full-face helmet saved me that day.
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