Vietnamese consumers purchase 6,400 Honda motorbikes daily

01 May 2023

Despite the price fluctuations that caused the price of Honda models to skyrocket in fiscal year 2023, Honda is still the favorite brand for Vietnamese consumers.

Người Việt mua 6.400 xe máy Honda mỗi ngày - 1

Recently, Honda Vietnam has released a summary of financial year 2023 (April 2022 – March 2023). According to which, the motorcycle manufacturing segment recorded strong growth.

Specifically, HVN’s motorcycle sales reached 2,335,337 vehicles, an increase of 13.8% compared to fiscal year 2022. Thus, HVN’s motorcycle market share reached about 81.0% (calculated in VAMM), an increase of 0.3% compared to the previous fiscal year. With this number, about 6398 Honda motorbikes reach Vietnamese consumers every day.

Although unsurprising, this result is still very impressive, especially when the fiscal year 2023 coincides with the period when HVN announced a shortage of scooters (from April 2022 to July 2022). This is also the period when the price of a series of models were pushed to an unprecedented high. For example, the price of Vision at one point reached 60 million VND – equivalent to high-end scooters.

The strong increase in purchasing power in the last months of the year, along with the recovery of production made Honda sales increase strongly. Along with increased sales, Honda’s motorcycle market share also increased by 1% in fiscal year 2023 compared to 80% in fiscal year 2022, continuing to dominate the market.

Also in the fiscal year 2023, the Japanese brand also updated the new version for the series of vehicles and especially launched two new scooters, Air Blade 160 (May 2022) and Vario 160 (December 2022). Honda motorcycles are currently covering almost all segments.

Entering the financial year 2024 with the global economy showing signs of recovery when China opens up, it promises to be a successful year in terms of sales for Honda despite the unfavorable developments in early 2023.



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