Illustrative image (Photo: VNA) Hanoi (VNA) - The Vietnam Association of Motorcycle Manufacturers (VAMM) has said its five members, namely Honda, Piaggio, Suzuki, SYM, and Yamaha, sold 518,920 motorbikes in the second quarter of 2020, a year-on-year drop of 30.77 percent.
Honda Vietnam is making up 80 percent of the sector’s market share with the most diverse range of products.
Honda said in June alone, it sold 174,755 motorbikes, down 3 percent compared to the previous month and 4 percent year-on-year.
The five VAMM members are manufacturing and distributing about 100 models of motorcycles with prices ranging from tens of millions of VND to over one billion VND each.
Other domestic brands present in Vietnam’s motorcycle market are VinFast and Pega, as well as foreign brands such as Ducacti, Kawasaki, BMW, KTM, Benelli, Harley Davidson, Triumph, Royal Enfield, and Motorrad. However, they are not members of VAMM, so no sales information is available
Insiders said besides the impact of the COVID-19 pandemic and social distancing regulations on the purchasing power in the quarter, VAMM’s members must share the market share with those are not members of the association.
Additionally, the local market has become saturated, with people switching to environmentally friendly electric motorcycles and cars, or public transport, causing the dropping motorbike sales./.
VNA
