The total number of motorcycles sold reached 686,001 units in the third quarter of this year, a year-on-year increase of 12.34 per cent and an increase of 13.74 per cent over the second quarter of this year, the Việt Nam Association of Motorcycle Manufacturers (VAMM) reports.

Honda continues to maintain its dominant position in the market with sales of 554,805 motorbikes in the third quarter of this year, equivalent to 80.8 per cent share of the market.

According to the General Statistics Office, the country manufactured 2,259,800 new motorbikes in the first nine months of this year, a growth of 6.6 per cent compared to the same period last year.

The Vietnamese motorbike industry is in the process of shifting the production of components, spare parts and intermediate products from foreign suppliers to domestic enterprises.

This process has achieved remarkable results, contributing significantly to the development and promotion of a local motorcycle industry.

Việt Nam is a country with a dominant number of motorbikes on the streets. Data from the Ministry of Transport reported that the country had nearly 75 million motorbikes in circulation by the end of last year, including nearly 73 million gasoline motorbikes and more than two million electric motorbikes.

Electric motorbike sales in Việt Nam have increased by about 30-35 per cent in recent years, making Việt Nam the largest electric motorbike market in ASEAN and the second largest in the world, after China.

Experts said that this trend not only reflected changes in consumer demand but also demonstrated the commitment of the Government and society to reduce pollution and protect the environment.

Therefore, motorbike manufacturers needed to have new strategies to quickly adapt to consumer tastes and maintain competitiveness in the market, said experts.