The biggest manufacturer with an over 70 per cent market share, Honda Viet Nam, said growth would be sustained this year. — File Photo

HCM CITY (Biz Hub) — The motorcycle market will continue to grow this year albeit at a marginal rate, according to manufacturers.

Speaking to Viet Nam News on the sidelines of a press conference to introduce the first Viet Nam Motorcycle Show to be held in HCM City in April, Yano Takeshi, general director of Yamaha Motor Viet Nam Company Ltd and chairman of the Viet Nam Association of Motorcycle Manufacturers, said, "This year may not see big growth."

The growth would be 2-3 per cent, he said.

The biggest manufacturer with an over 70 per cent market share, Honda Viet Nam, too said growth would be sustained this year.

Ho Manh Tuan, deputy director of Honda Viet Nam, said overall sales is expected to be around 2.85 million units this year.

There is still demand from consumers in big cities like Ha Noi and HCM City, he told Viet Nam News.

In addition to normal motorbikes for daily use, there is also demand for sports and specialised vehicles, and so the market would continue to grow, he added.

In rural areas, demand is expected to be strong thanks to programmes to lay cement roads there.

But Taiwanese-invested SYM has higher hopes for the market, saying growth will be around 6 per cent.

A company spokesperson said the 2.8 million units expected to be sold does not reflect the potential of the market since sales could easily be 3-4 million.

The industry wants the Government to check the numbers of old motorbikes sold and ban the use of vehicles more than tens years old to ensure safety and also boost the industry.

Last year the market grew at 4 per cent as dozens of new models were introduced by importers and domestic manufacturers.

Viet Nam is the forth biggest market in the world. — VNS