An overview of October 2022 2-wheeler market and its surrounding economy.

Policy:

With the pressure of population increase nationwide, especially in big cities, leading to an increase in people’s mobility needs, the government directed big cities like Hanoi to continue researching and promoting the urban railway network. At the same time, it is proposed to collect tolls in the inner city to limit the explosion of private vehicles that adversely affect urban traffic.

Network of Hanoi Urban railway

Traffic jam happening in inner city of Hanoi

Social Trend:

Motorbike will still be the main means of transport, accounting for 70% until 2030 in Vietnam – the second largest market in Southeast Asia, after Indonesia.

Vietnamese tend to prefer Japanese bikes as they believe in quality and durability. Additionally, due to the increase in income, the tendency to use expensive motorbikes increases.

Advanced equipment on motorbikes such as Idling stop, Smartkey, FI, ABS … are popular with users. In addition, recently, the communication feature between motorbikes and users via smartphones has also been noticed: GPS, listen to music, manage calls, check warranty information…

Motorbike manufacturers from Japan are dominating in Vietnam

Economics:

Vietnam’s economy continues to be forecasted to have impressive growth while other countries in the world are decreasing, however, it is still more or less affected by global influences such as rising inflation, increasing VND-USD exchange rate…

GDP growth 9 months over the years

SCOOTER:

Yamaha expanded into the scooter segment with large displacement and sporty appearance to compete with Honda SH350 by joining the XMAX 300. This shows that the high-end scooter segment is having more options for customers.

Yamaha XMAX 300

Honda refreshes the image by continuing to offer more outlook design changes of mid-range scooters such as Vario 125 and SH Mode125.

New Honda-Vario125 imported from Indonesia

New color on Honda-SH Mode 125

SPORTS:

Yamaha and Honda continue to promote activities to enhance the brand image of large displacement motorcycles such as: Yamaha held a test drive of the YZF-R15 2022 and Honda displayed large displacement motorcycles at VMS 2022.

Test driving of Yamaha YZF-R15 2022

Honda large displacement motorcycles are displayed at Vietnam Motor Show 2022

EV:

Electric vehicles continue to be focused on promoting by investors, specifically Vietnam’s largest electric vehicle manufacturer – Vinfast, which improves the capacity of its charging infrastructure by opening charging stations at its petrol stations of Petrolimex, at the same time continues to focus on promoting the mid-price electric motorcycle EVO 200 to the market.

Emerging start-up in Vietnam – DatBike also expands the market by opening an EV showroom in Da Nang city.

Not only electric vehicle manufacturers focusing on “green vehicles”, but the state is also actively participating in this field. Recently, Hanoi city piloted a free EV for passengers to take the BRT bus for transit.

Charging stations at its petrol stations of Petrolimex

EV showroom of DatBike in Da Nang

Free EV for passengers to take the BRT bus for transit