Motorcycle consumption increases

In the third quarter of 2017, five motorbike manufacturing enterprises in Vietnam sold 845,604 vehicles, an increase of 14% compared to the second quarter of 2017, according to the announcement of the Vietnam Association of Motorcycle Manufacturers (VAMM).

Thus, by the end of September 2017, the total number of motorbikes sold by the 5 members of VAMM (Honda, Yamaha Motor, Piaggio, Suzuki and SYM VN) in the market reached more than 2.37 million units. If we include imported vehicles and vehicles produced by some enterprises outside VAMM, the total number of motorbikes consumed in the whole market is estimated at about 2.4 million units. Meanwhile, in the whole year of 2016, enterprises only sold more than 3.12 million vehicles, an increase of 9.5% compared to the whole year of 2015.

Motorcycle sales are still increasing in Vietnam.

It can be seen that motorbike consumption is still increasing steadily, despite the roadmap to limit motorbikes being proposed by the authorities of major cities. Specifically, at the end of August, Hanoi City approved the project to strengthen the management of road vehicles to reduce traffic congestion and environmental pollution in the area, period 2017 - 2020 with a vision to 2030. In which, necessary conditions are prepared to stop motorbikes in districts by 2030.

In Ho Chi Minh City, although there is no roadmap for banning motorbikes, the demand for motorbikes will be controlled while encouraging people to use public transport.

According to statistics, the total number of motorbikes in circulation in Vietnam by the end of 2016 was about 45 million, reaching a rate of 2 people owning 1 motorbike.

According to the owner of a motorbike dealership in District 5, Ho Chi Minh City, the demand for replacing old cars with new models, especially scooters and fashion cars, is still increasing. Moreover, although car prices are decreasing, the majority of people still cannot afford to own this type of vehicle. Therefore, Vietnam is still a "profitable" market for foreign motorbike manufacturers as it continues to rank 4th in terms of consumption worldwide.

In particular, car manufacturers have high expectations for scooters, which account for more than 45% of the market share and will be a strong growth segment in the coming time when per capita income increases.

According to Thanh Nien