Domestic motorcycle manufacturers shipped nearly 280,000 units in November, the highest number in 2024. The abundant supply of new motorcycles is expected to help stabilize prices from now until the Lunar New Year.
According to a report recently released by the General Statistics Office, domestic enterprises produced an estimated 279,300 new motorbikes in November. This is the highest monthly output in 2024, up 3.6% compared to October (with 269,500 units) and up slightly 1% compared to the same period in 2023.
In the first 11 months of 2024, 2,801,200 new motorbikes were produced nationwide, up 5% over the same period in 2023. With this output, motorbike manufacturers are likely to easily surpass the forecasted production milestone of 3 million units in 2024.
It is understandable that manufacturers continue to increase production in November when the domestic market is at its peak at the end of the year, and the demand for new motorbikes increases in the run-up to Tet. The abundant supply of new motorbikes will also stabilize prices, and many dealers may even launch additional year-end discounts to stimulate market demand.
Currently, members of the Vietnam Association of Motorcycle Manufacturers (VAMM) including Honda, Yamaha, SYM, Suzuki and Piaggio contribute a large number of newly produced motorcycles to the market. Of which, Honda is the company with the largest production volume and market share, accounting for about 80% of the entire VAMM.
Not only consuming in the domestic market, these enterprises also export complete motorbikes to many countries and territories.
In addition to VAMM members, many other domestic and FDI enterprises also participate in the production of electric motorbikes such as VinFast, DatBike, Pega, Yadea, Detech,... with quite large output but do not specifically announce sales.
VN (according to Vietnamnet)