Motorbike sales slump, blamed on pandemic
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Motorbike sales fell 16.6 percent to 2.71 million units last year, according to the Vietnam Association of Motorcycle Manufacturers.
The industry group comprises five major companies, Honda, Piaggio, Suzuki, SYM, and Yamaha, who account for most of the market.
Industry insiders said sales fell in double digits because of the Covid-19 pandemic, which hit people’s incomes.
Although VAMM’s report did not list each company’s sales, Honda said it accounted for nearly 80 percent.
Other brands not included in report were VinFast, Kymco, BMW Motorrad, Ducati, Harley-Davidson, Kawasaki, and others.
In the second half last year several companies introduced.
Questions & Answers
Q.What was the total number of motorbikes sold last year in the Vietnamese market?
What was the total number of motorbikes sold last year in the Vietnamese market?
Total motorbike sales in Vietnam reached 2.71 million units last year. This figure represents a 16.6 percent decline compared to the previous period, as reported by the Vietnam Association of Motorcycle Manufacturers.
Q.Which specific companies are included in the Vietnam Association of Motorcycle Manufacturers' sales report?
Which specific companies are included in the Vietnam Association of Motorcycle Manufacturers' sales report?
The Vietnam Association of Motorcycle Manufacturers (VAMM) includes five major companies: Honda, Piaggio, Suzuki, SYM, and Yamaha. These manufacturers collectively represent the majority of the market's sales figures.
Q.What reason did industry insiders give for the significant drop in motorbike sales?
What reason did industry insiders give for the significant drop in motorbike sales?
Industry insiders attributed the double-digit sales decline to the Covid-19 pandemic. They stated that the pandemic severely impacted people's incomes, which in turn affected consumer spending on motorbikes.
Q.Which brands operating in Vietnam were not part of the official sales report from the industry association?
Which brands operating in Vietnam were not part of the official sales report from the industry association?
Several brands were not included in the VAMM report, such as VinFast, Kymco, BMW Motorrad, Ducati, Harley-Davidson, and Kawasaki. These companies operate in the market but their sales data was not part of the association's official figures.
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