Domestic motorcycle market to heat up in year-end

Vision continues to be a best-selling model in July-September. (Photo: VNA)

Hanoi (VNA) – Vietnam’s motorcycle market has shown positive signs after a period of stagnation, expected to heat up in the year-end peak shopping season.

According to the Vietnam Association of Motorcycle Manufacturers (VAMM), its five members – Honda, Yamaha, Piaggio, SYM and Suzuki sold a total of 686,001 vehicles in Quarter 3, up 13.74% against the previous quarter and 12.34% year-on-year. This was the highest sales figure recorded from the outset of the year, marking the market growth amidst intense pressure from expanding automobile and electric motorcycle markets.

Honda accounted for the lion share of the motorbike sales volumes with 554,805 units sold in July-September. Wave Alpha, Vision and Lead continued to be the best-selling models due to their convenience, fuel efficiency and rational prices.

Meanwhile, the remaining brands also recorded stable sales growth with such standout scooter models as Grande, Janus and Vespa.

Motorbike sales volumes are expected to increase in the remainder of the year on the back of the strong demand in preparation for the traditional Lunar New Year.

According to the General Statistics Office, the country manufactured 2,259,800 new motorbikes in the first nine months of this year, a year-on-year growth of 6.6%.

Vietnam is a country with a dominant number of motorbikes on the streets. Data from the Ministry of Transport reported that the country had nearly 75 million motorbikes in circulation by the end of last year, including nearly 73 million gasoline motorbikes and more than two million electric motorbikes.

Electric motorbike sales in the country have increased by about 30-35% in recent years, making Vietnam the largest electric motorbike market in ASEAN and the second largest in the world, after China./.

VNA