Motorbike sales decline in 2023
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Vietnam Association of Motorcycle Manufacturers members sold 2.5 million vehicles in the domestic market last year, down 16.2% from 2022.
Its five members are Honda, Yamaha, Piaggio, Suzuki, and SYM. They sold 634,688 motorcycles in Q1 of last year, 588,926 in Q2, 610,635 in Q3, and 681,963 in Q4.
The Vietnamese motorcycle market also has other brands such as VinFast, Kymco, BMW Motorrad, Ducati, Triumph, Kawasaki, Royal Enfield, Harley-Davidson, KTM and Yadea.
Within Southeast Asia, Vietnam has the highest motorcycle ownership rate at 72.8%, while Singapore has the lowest rate, at 2.4%, according to Seasia Stats, an integral part of the Seasia.co platform that provides statistical data and infographics.
Questions & Answers
Q.What was the total number of motorbikes sold by the Vietnam Association of Motorcycle Manufacturers members in the domestic market last year?
What was the total number of motorbikes sold by the Vietnam Association of Motorcycle Manufacturers members in the domestic market last year?
Members of the Vietnam Association of Motorcycle Manufacturers sold 2.5 million vehicles in the domestic market last year. This figure represents a 16.2% decrease compared to their sales in 2022.
Q.Which quarters saw the highest and lowest sales figures for the Vietnam Association of Motorcycle Manufacturers members last year?
Which quarters saw the highest and lowest sales figures for the Vietnam Association of Motorcycle Manufacturers members last year?
The highest sales for the members occurred in Q4 with 681,963 motorcycles sold. The lowest sales were recorded in Q2, where they sold 588,926 motorcycles to the domestic market.
Q.Besides the five main members, what other brands are present in the Vietnamese motorcycle market?
Besides the five main members, what other brands are present in the Vietnamese motorcycle market?
Beyond the five main members (Honda, Yamaha, Piaggio, Suzuki, SYM), the Vietnamese market also includes other brands. These include VinFast, Kymco, BMW Motorrad, Ducati, Triumph, Kawasaki, Royal Enfield, Harley-Davidson, KTM, and Yadea.
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