Motorbike sales in Vietnam shrink in 2019 hinh anh 1Illustrative image (Source: VNA)

Hanoi (VNA) –
The Vietnam Association of Motorcycle Manufacturers (VAMM) has said its five members, namely Honda, Piaggio, Suzuki, SYM, and Yamaha, sold over 3.25 million motorbikes in 2019, a year-on-year decline of 3.87 percent.

Honda is making up nearly 81 percent of the sector’s market share with the most diverse range of products.

The five VAMM members are manufacturing and distributing nearly 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 firms such as Kymco, Ducacti, Kawasaki, BMW, KTM, Benelli, Harley Davidson, Triumph, Royal Enfield, and Motorrad.

According to insiders, as Vietnamese people’s incomes have increases, more customers have been switching to buying cars. Last year, 400,000 cars were sold at home, a record number over the past 20 years.

Air pollution in big cities has also made a large number of people use their personal cars or buses instead of motorbikes to ensure health and reduce traffic jam, experts said./.