Vietnam’s motorbike sales second highest in ASEAN
Though motorbike sales in Vietnam ranked second in ASEAN last year, domestic demand showed a decline against regional growth.
Motorbike drivers seen in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
The country recorded 3.27 million units sold, second to Indonesia at 6.53 million, according to Italy-based market research firm Motorcycles Data.
Vietnam’s figure was almost twice that of third-ranking Thailand with 1.73 million units sold.
Domestic sales dropped 3.7 percent from 2018 while ASEAN region grew 3.1 percent thanks to rising demand from Indonesia and Malaysia.
While Honda sales recorded a new peak at 2.57 million units, up 0.2 percent, most major producers like Yamaha, Piaggio and Suzuki posted dwindling figures.
Globally, Vietnam ranked fourth in motorbike consumption behind India, China and Indonesia, unchanged from 2018.
The motorbike market in Vietnam is still growing despite previous forecasts that it had reached a saturation point. High taxes and infrastructure limitations are constraints for cars and there is still a demand for this type of transport, according to the Vietnam Association of Motorcycle Manufacturers.
"Although the market will not see remarkable changes in the future, it will continue to grow steadily with 3-3.5 million motorbikes sold each year," the association said.