Vietnamese purchase less motorcycles in early 2023

01 May 2023

Motorcycle sales in the first quarter of this year decreased nearly 16% compared to the same period last year, similar to the decline of the automobile market.

Manufacturers Association Motorcycles Vietnam (VAMM) announced sales figures for the first quarter of 634,688 units. Compared to the same period in 2022, sales decreased by 15.78%. This state of decline is similar to the four-wheel drive vehicles market. The number of cars sold in the first 3 months of the year decreased by 25% compared to the same period last year.

VAMM’s sales report does not list the details of each member. Vietnam Association of Motorcycle Manufacturers (VAMM) consists of 5 members, including Honda, Yamaha, Piaggio, Suzuki and SYM. Particularly, Piaggio Group contributes 4 brands: Vespa, Piaggio, Aprilia, Moto Guzzi.

The sales transformation graph shows that, compared to last year’s quarter with the lowest sales (the second quarter), sales in the first quarter of this year are still about 20,000 units lower. This decrease was explained by longtime sales managers due to the overall impact of the economy. When incomes are tight, people are more limited in spending on vehicles.

“Customers can temporarily use their current vehicle, instead of changing to a new one, and expensive scooters and clutches also suffer great impact,” said the owner of a motorbike shop in Hanoi.

Experts predict that this year the motorcycle market will face the same difficulties as cars, economically popular vehicles for newcomers will be the common choice.

In the region, Vietnam’s motorcycle consumption only behind Indonesia. Mobility and moderate prices are the biggest reasons for motorbikes to become popular in Vietnam, when vehicle price is too high compared to the average income of people. Honda is the most popular brand, accounting for about 80% of the market share.

In addition, the motorcycle market also has brands outside VAMM (only counting gasoline motorcycles) such as Kymco, or large displacement manufacturers BMW Motorrad, Ducati, Triumph, Kawasaki, Royal Enfield, Harley-Davidson, KTM.



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