The VAMM members, namely Honda, Piaggio, Suzuki, SYM, and Yamaha, are manufacturing anddistributing about 100 models of motorcycles with prices ranging from more than 10 million VND to over one billion VND each.
Notably, Honda Vietnam is making up nearly 81percent of the sector’s market share with the most diverse range of products.
Experts said that, after growing by nearly 30 percent in thesecond quarter, the motorbike sales fell sharply in the third quarter due tothe complicated developments of COVID-19.
They noted that the Vietnamese motorcycle market has gonethrough a difficult period similar to what happened to the auto market.
To stimulate market demand, businesses are giving incentives and running promotion programmes, especially the peak shopping period at the end ofthe year is approaching.
Many motorbike manufacturers have promptly launched a series ofnew motorbike models right after the social distancing orders in many provincesand cities were relaxed in recent weeks.
Experts predicted that the motorcycle market will recover in thefourth quarter of 2021 - when the peak shopping demand of the year begins, and theCOVID-19 pandemic is gradually under control./.
VNA