Green SM extends lead in Vietnam's ride-hailing market to over 54 per cent

April 24, 2026 | 10:29

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Green SM continues to widen its lead in Vietnam’s ride-hailing market in the first quarter, capturing over 54 per cent market share and maintaining its top position for 18 consecutive months.

Photo: thoibaotaichinhvietnam.vn

According to a first-quarter market report released on April 23 by Mordor Intelligence, Green SM’s share in the app-based taxi segment rose from 51.5 per cent in the fourth quarter of 2025 to just over 54.5 per cent.

The performance extends a trend seen over the past year, during which the Vietnamese electric ride-hailing brand overtook competitors and sustained steady growth, surpassing the 50 per cent threshold in late 2025.

Beyond market share, Green SM also ranked highest in customer satisfaction, while leading in network coverage, trip volume, and average daily revenue.

The report noted that the overall ride-hailing market continued to expand in the first quarter, with gross merchandise value (GMV) reaching $580.71 million, equivalent to 153.26 million trips.

Electric and hybrid vehicle rides accounted for 58.34 per cent of total GMV, highlighting rising demand for green mobility among consumers.

Fluctuations in fuel prices have also put pressure on traditional taxi models, further underscoring the cost advantages of electric vehicles.