Motorbike sales slump, blamed on pandemic
Motorbike sales fell 16.6 percent to 2.71 million units last year, according to the Vietnam Association of Motorcycle Manufacturers.
Motorbike drivers stuck in traffic in Ho Chi Minh City on January 3, 2021. Photo by VnExpress.
The industry group comprises five major companies, Honda, Piaggio, Suzuki, SYM, and Yamaha, who account for most of the market.
Industry insiders said sales fell in double digits because of the Covid-19 pandemic, which hit people’s incomes.
Although VAMM’s report did not list each company’s sales, Honda said it accounted for nearly 80 percent.
Other brands not included in report were VinFast, Kymco, BMW Motorrad, Ducati, Harley-Davidson, Kawasaki, and others.
In the second half last year several companies introduced new models like the Vision 2021 by Honda and Exciter 155 VVA by Yamaha.