An estimated 280,500 motorcycles were manufactured domestically in August, a 30.9 per cent increase year-on-year, highlighting the positive growth of Việt Nam’s motorcycle manufacturing sector.
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.
In the third quarter 2023, VAMM members including Honda, Piaggio, Suzuki, SYM and Yamaha Motor Vietnam reported selling a total of 610,635 motorcycles of all types, a 3.69 per cent increase compared to the previous quarter.
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.
By adjusting the plan and boosting production, motorbike enterprises in Viet Nam have partly solved the problem of lack of supply and goods at dealers.
The Vietnam Association of Motorcycle Manufacturers (VAMM) has said its members sold 367,037 motorbikes in the third quarter of 2021, a year-on-year of 45.84 per cent.
For visitors to Viet Nam, one of the most striking images is that of the bustling roads, with a huge number of motorbikes battling for space with cars, trucks and public transport.
Members of the Viet Nam Association of Motorcycle Manufacturers (VAMM) sold nearly 519,000 motorcycles in the second quarter this year, a year-on-year decrease of 30.77 per cent.