Motorcycle market grows rapidly in the third quarter

The Vietnam Association of Motorcycle Manufacturers (VAMM) has just announced the sales of its members in the third quarter of 2024. Accordingly, a total of nearly 686,001 motorbikes were sold on the market, an increase of 13.74% compared to the previous quarter and an increase of 12.34% compared to the third quarter of 2023.

This sales figure is calculated for 5 VAMM members: Honda, Yamaha, SYM, Suzuki and Piaggio. Of which, Honda alone sold 554,805 vehicles in the third quarter, accounting for 80.8% of VAMM's total sales.

In the first 9 months of the year, VAMM members sold a total of 1.892 million motorbikes of all kinds, a slight increase of 3.67% over the same period in 2023 (about 1.825 million units).

Experts say that sales in the third quarter increased compared to the previous quarter due to the sharp increase in demand for two-wheeled vehicles for students.

However, the number of cars sold in the third quarter of this year increased by more than 12% compared to the same period last year, which is quite surprising in the context of the market plummeting after the Covid-19 pandemic. This result was achieved thanks to many preferential policies and discounts from manufacturers to stimulate customer demand.

In addition to the above VAMM car brands, the Vietnamese motorbike market also has the presence of many other names such as electric car brands VinFast, Yadea, DatBike, Pega,... large-displacement motorbikes such as Kawasaki, Harley-Davidson, KTM, Husqvarna, Ducati,... but do not announce specific sales.

Previously, according to the General Statistics Office, domestic enterprises produced an estimated 242,100 new motorbikes in September, down 12.2% compared to August, but still up 5.8% over the same period in 2023. In the first 9 months of 2024, the whole country had approximately 2.26 million new motorbikes manufactured, up 6.6% over the same period in 2023.