HANOI: Vietnam’s motorcycle market is showing signs of recovery, with expectations for increased activity during the year-end shopping season. The Vietnam Association of Motorcycle Manufacturers (VAMM) reported that its five member companies-Honda, Yamaha, Piaggio, SYM, and Suzuki-sold a total of 686,001 motorcycles in the third quarter. This figure represents a 13.74% increase compared to the previous quarter and a 12.34% increase year-on-year.
According to Vietnam News Agency, this surge in sales marks the highest recorded for the year so far, indicating growth in a market that has been under significant pressure from the expanding automobile and electric motorcycle sectors. The General Statistics Office reported the production of 2,259,800 new motorbikes in the first nine months of the year, reflecting a 6.6% increase from the previous year.
As the year-end approaches, the motorcycle market is expected to continue its upward trend, driven by increased consumer demand during the peak shopping season. The
positive sales figures suggest a resurgence in the market, despite challenges posed by other modes of transportation gaining popularity among consumers.