Motorbike market sees an H1 cooling down

By Hung Le   July 22, 2019 | 10:59 am GMT+7
Motorbike market sees an H1 cooling down
Vietnamese people riding motorbikes at peak hours in Ho Chi Minh City. Photo by Shutterstock/StreetVJ.

Just over 1.5 million motorbikes were sold in Vietnam in the first half of 2019, down 6 percent year-on-year, as the market is close to saturation.

In the second quarter of this year, the top five popular brands in the country sold 749,516 units, a decrease of 4.39 percent year-on-year, according to the Vietnam Association of Motorcycle Manufacturers (VAMM). 

The five brands, including Honda, Piaggio, Suzuki, SYM and Yamaha, collectively make up around 95 percent of the country’s motorbike market.

Among the five VAMM members, Honda currently holds nearly 77 percent of the market share, a 4.5 percent increase from its position at the end of June last year. None of the other four members recorded any increase in their market shares.

Falling motorbike sales this year were because the market is near saturation, the VAMM stated.

With sales of nearly 3.4 million units in Vietnam in 2018, the country was the fourth biggest motorcycle consumer in the world, after India, China and Indonesia, according to a recent report by market research firm Motorcycles Data.

Last year, Vietnam had the highest proportion of people buying new motorbikes, with over 35,000 new motorbikes sold per one million people.

"This reflected the general picture on transport ownership in Vietnam, where motorbikes are still much more popular and accessible than cars." 

India and China sold 21.5 million and 15.5 million units last year, respectively, Motorcycles Data reported.

At the end of 2016, there were 45 million registered motorbikes in Vietnam, a country of over 92 million people, according to the Ministry of Transport.

 
 
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