Five major motorcycle manufacturers join forces to form an association.

The official association of motorcycle manufacturers in Vietnam is rushing to prepare for its official launch...

According to a source, the association will initially include only five members: Honda, Yamaha, Piaggio, Suzuki, and SYM. These are all foreign-invested motorcycle manufacturers and also the five "giants" holding the largest market share in Vietnam.

The establishment of a new association, led by major joint ventures, will help members operate and communicate more effectively.

Once fully operational and stable, the association will consider admitting new members, including both foreign-invested and wholly-owned domestic enterprises.

Previously, motorcycle businesses in Vietnam also participated in the Vietnam Motorcycle and Bicycle Association. However, this organization has been quite disappointing, with virtually no activity or significant contributions to its members in particular and to the motorcycle industry in general.

Therefore, the establishment of a new association led by major joint ventures will help members operate more professionally and communicate better. At the same time, the Vietnamese motorcycle industry will have a more unified voice with greater weight, contributing to the direction of the industry and influencing its development policies.

Despite being one of the world's largest motorcycle markets and manufacturers, Vietnam doesn't have a particularly large number of motorcycle brands, even compared to the automotive industry.

Furthermore, there is a significant disparity in strength and market share between the joint ventures and domestic manufacturers. Therefore, the establishment of a motorcycle association with full membership can be seen as a shared responsibility, a correct step towards quickly transforming Vietnam into a leading motorcycle industry center in the world.

Along with the aforementioned five "giants," Vietnam also has several other motorcycle manufacturers and brands that are experiencing good growth, such as Losohaka, T&T, Vinagimex, Lambretta, and Phoenix.

(According to VnEconomy)