VIETNAM CHAMBER OF COMMERCE AND INDUSTRY
Liên Đoàn Thương Mại Và Công Nghiệp Việt Nam
Thu, Apr 16, 2020, 08:20:00
The fallout of the coronavirus pandemic and a saturated market meant traditional motorbike sales in Vietnam fell 3.03 percent in the first quarter.
According to the latest report from the Vietnam Association of Motorcycle Manufacturers (VAMM), 731,007 motorbikes were sold in the period.
The business group blamed the outbreak for dragging down demand in an already saturated market.
The business group also blamed the downturn on the rise of local electric motorcycle manufacturers like VinFast, Yadea and Mbigo. VinFast sold more than 50,000 electric motorcycles last year.
Traditional motorbike sales were down 3.87 percent to 3.25 million last year, according to VAMM.
Honda retained its overwhelming lead with a market share of more than 75 percent, Yamaha had around 20 percent. The rest was split between Piaggio, SYM and Suzuki.
Motorbike sales in Vietnam ranked second in ASEAN, behind Indonesia last year, and domestic demand showed a decline against regional growth.
Globally, Vietnam ranked fourth in motorbike consumption behind India, China and Indonesia, unchanged from 2018.
