Sales of electric motorcycles bloom in Vietnam amidst gloomy gasoline-based vehicle market

24 Apr 2023

While the sales of gasoline-powered motorbikes have declined sharply, the consumption of electric motorbikes still increases sharply.

Doanh số xe máy điện "nở hoa" khi thị trường xe động cơ xăng ảm đạm tại Việt Nam - 1

New data published by Motorcycles Data website shows that in the first quarter of 2023, the total sales of motorcycles in Vietnam market reached 726,807 units, down 10.6% compared to the fourth quarter of 2022. In which, the cub segment witnessed the strongest drop of 18.4%, followed by scooters (-5.9%).

In the opposite direction, electric motorcycles continued their growth momentum with an increase of 19.4% in the L1 segment (vehicles not requiring driver’s license – top speed below 50km/h). This increase is 75.1% in the L3 segment (with a speed of over 50km/h, requiring license of class A1 or higher).

This is a sign that Vietnamese consumers are gradually accepting electric motorbikes as a perfect alternative to gas-based motorbikes in the context of increasing environmental awareness. Moreover, the emergence of more and more new electric motorcycles, with diverse designs, modern technology, and increasingly reasonable selling prices are also factors to attract consumers.

Doanh số xe máy điện "nở hoa" khi thị trường xe động cơ xăng ảm đạm tại Việt Nam - 2

From the beginning of 2023, Yamaha kicked off the electric vehicle market with the sale of Neo’s electric motorcycle model. In February 2023, Yadea added 3 new electric motorcycle models to the Vietnamese market, including the high-end VC181H along with 2 economic versions of VC181YE and VC181E. Most recently, Son Ha’s EVGO brand has launched 4 new electric motorcycles including VS125, EX100, EVGO A, and Ecooter EH2.

Not only in Vietnam, but electric motorcycles also have tremendous growth in the Thai market. According to Motorcycles Data, in the first quarter of 2023, the consumption of L1 electric motorcycles in this Southeast Asian country increased by 241%, while the L3 electric scooter segment increased by 184%.



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