Vietnam’s motorbike sales down over 4 percent in Q1

At Honda Vietnam (Photo: VNA)

Hanoi (VNA) – The Vietnam Automobile Manufacturers' Association (VAMA) announced on April 12 that its five members sold 701,454 units in the first quarter, down 4.05 percent year-on-year.

On average each month, nearly 234,000 units were sold.

They include Honda Vietnam which is producing and distributing 26 products, Yamaha Motor Vietnam 19 products, SYM Vietnam with 19, Suzuki Vietnam 17 and Piaggio Vietnam 10.

Among members, Honda Vietnam accounts for nearly 80 percent of market share of motorbikes.

Several members also export motorbikes to many countries and territories.

According to experts, purchasing power dropped by over 4 percent in the first quarter due to the traditional Lunar New Year festival and the impacts of COVID-19 pandemic.

Motorbike market is considered saturated because many consumers have chosen automobiles with cheaper prices instead.

Due to traffic congestion, air and dust pollution in Hanoi and Ho Chi Minh City, many people have chosen public transport means, thus contributing to reducing vehicle sales during the period./.