The potential for developing the electric motorbike market in Vietnam is significant. As the government encourages the adoption of electric vehicles and consumers become more conscious of environmental issues, there is a growing demand for electric motorbikes.
Manufacturers are engaging in price competition, and dealers are proactively reducing prices on various motorcycle models, ranging from a few million to tens of millions of Vietnamese đồng, depending on the model.
Viet Nam''s motorcycle market has been among some of the fastest-growing markets in the world in the last decades despite setbacks brought by the COVID-19 global pandemic.
Viet Nam’s motorcycle market stumbled in the first three months of 2023 as demand ped. The market had an impressive 2022 with sales of 3.38 million units following a two-year slump due to the COVID-19 pandemic.
Viet Nam’s motorcycle market saw a year-on-year slump of 5.3 per cent with nearly 1.5 million sales in the first half of this year, according to motorcyclesdata.com which tracks motorcycle sales all around the world.
The Vietnamese motorcycle market in 2018 broke its sales record set seven years ago with nearly 3.4 million units sold for a year-on-year increase of 3.5 per cent.
Viet Nam’s motorcycle market has been rapidly growing in recent years, bucking expectations that it would enter a saturation stage, as consumption shifts from semi-automatic motorbikes to scooters and from widely popular scooters to luxury vehicles.