Vietnamese people buy 6 new motorbikes every minute

The above data of the Vietnam Association of Motorcycle Manufacturers (VAMM) includes 5 members: Honda, Yamaha, Suzuki, SYM, Piaggio, excluding motorcycle and motorbike manufacturers that do not belong to this organization such as Kymco, BMW Motorrad. , Ducati, Triumph, Kawasaki… However, the number of cars of these brands is quite small.

With more than 750,000 cars sold in 3 months, that is equivalent to 6 cars sold every minute. This number shows that motorbikes are still the dominant vehicle in Vietnam. If counting last year’s sales of the motorcycle market was nearly 2.5 million units, 8 times higher than the auto market.

Compared to the same period in 2021, VAMM’s sales in the first quarter increased by 7.43% and decreased slightly by 1% compared to the previous quarter. Except for the third quarter of 2021 with a record low sales because the market froze due to the impact of the Covid-19 epidemic, the sales of this organization for more than a year have returned to the usual trajectory.

VAMM reports total sales but does not specify individual member figures. Honda is the only company announcing sales in Vietnam. In 2021, the Japanese brand sells nearly 2 million units, accounting for nearly 80% of VAMM’s sales market share.

With prices that are easily accessible and most suitable for traffic infrastructure conditions, popular motorbikes are still the main choice for the majority of Vietnamese people. Sales of VAMM in the past 9 years (2013-2021) have never been less than 2 million units. The peak was in 2018 when the number of cars sold in the market reached more than 3.3 million units. In Southeast Asia, Vietnam is the second largest motorcycle consumption market, after Indonesia.

Pham Trung