Vietnam holds fourth largest two-wheeler market globally
VOV.VN - Despite motorcycle sales continuing to decline in the first quarter of the year, Vietnam remains the second largest motorcycle market in all of Southeast Asia and the fourth worldwide, according to newswire Motorcycles Data.
The country remained as one of the largest motorcycle markets in the world in the first quarter of the year with 660,391 units sold, down 5.9% compared to the same period last year.
During the four-month period, motorcycle sales in Vietnam reached 904,684 units, down 6.4% compared to the same period from last year, meaning that 244,225 units were sold in April.
With these positive results, the country currently stands as the fourth largest motorcycle market in the world, after India, China, and Indonesia.
Currently, more than two-thirds of people living in the nation own two-wheeled electric motorbikes, while more than 90% of households have motorbikes.
Motorcycles Data also pointed out that the Vietnamese motorbike market is declining in all segments. Specifically, the scooter segment fell by 5.8%, while motorbikes decreased by 16.1%.
The media outlet assessed that Honda and Yamaha are still the two leading motorbike brands in the Vietnamese market. During the four-month period, Honda grew by 0.3%, while Yamaha recorded a fall of 21.6%.
Even the electric motorbike segment is struggling. Accordingly, the L1 electric vehicle group went down by 28.4%, while the L3 category rose by 10.8%. However, the overall electric motorbike segment still dropped by 12.7%.
With regards to branding, the number of Pega electric motorbikes reaching users nationwide dropped by 9.3%, while Yadea saw a downward trajectory of 16% in the reviewed period. VinFast is the only electric motorbike brand to record positive growth at only 7.7%.
