Motorcycle sales drop in Q1
VOV.VN - The Vietnam Association of Motorcycle Manufacturers (VAMM) has reported that a total of 603,745 motorbikes were sold during the first quarter of the year, marking a drop of 4.88% compared to the same period from last year.
VAMM includes Honda Vietnam, Piaggio Vietnam, Vietnam Suzuki, SYM Vietnam, and Yamaha Motor Vietnam.
Of the five manufacturers, Honda Vietnam, which accounts for 80% of the overall motorbike market share in Vietnam, sold 277,560 motorbikes in February. The latest figure has yet to be updated, although the Japanese manufacturer also saw sales slide in March.
The decline in motorcycle sales reflects that purchasing power has not fully recovered among consumers following the COVID-19 pandemic.
According to VAMM, before the pandemic the motorcycle market recorded positive growth with an annual sale of approximately three million vehicles.
According to business experts, motorbike sales will continue to decrease in the second quarter before becoming vibrant again during the year-end shopping season.
