Vietnam surpasses Thailand in motorcycle production capacity and domestic sales
VOV.VN - Vietnamese domestic motorcycle production is estimated at around 3 million units per year, while Thailand has set a target of reaching motorcycle production capacity of 2.1 million units in 2023.
The Federation of Thai Industries (FTI) expects that total motorcycle production this year will exceed the target of 2.1 million units.
The rebound of the tourism industry has increased demand for motorcycles, whilst the easing of the global semiconductor shortage means chip makers are capable of supplying a greater number to motorcycle producers, said Surapong Paisitpatanapong, vice-chairman and spokesman for the FTI's Automotive Industry Club.
Earlier this year the FTI predicted that local motorcycle production would reach 2.1 million units this year. Of the total, production for the domestic market stands 1.75 million units, with the export market projected to account for 350,000 units.
For the first seven months, Thailand’s domestic motorcycle sales increased by 10% on-year to 1,144,760 units.
Vietnamese domestic motorcycle production was estimated at more than 3.32 million units in 2022, with annual growth of 9.9%. The Vietnam Association of Motorcycle Manufacturers (VAMM) reported that Vietnamese motorbike consumption in 2022 was over three million units.
During the past seven months of the year total motorbike consumption in the country reached 1.56 million vehicles, a decline of 14.4% over the same period from last year.
It is therefore forecast that this year motorbike consumption nationwide will reach approximately 2.8 million units.
