Vietnam maintained its position as the world’s 4th largest motorcycle market despite a double-digit drop in June sale, according to motorcyclesdata.com website.
A man takes a photo of a Honda motorcycleat a recent expo.
It cited figures of the Vietnamese transport ministry that showed 224.337units were sold in June, down a deep 10.7 percent.
Vietnam’smotorcycle market saw a year-on-year slump of 5.3 percent in the first half ofthis yearwith nearly 1.5 million units sold.
Honda, which tops themarket, remained stable, while all other manufacturers saw a decline in sales,with Yamaha down 20 percent. The new local producer, VinFast, was welcomed bythe market, according to the website.
Vietnam remains amanufacturing cluster involving top brands, such as Japan’s Honda, Suzuki andYamaha, Taiwanese SYM and the Italian Piaggio. These brands account forover 97 percent of the market share.
The website said theoutlook for the local market in 2019 is still positive, considering the economywill maintain momentum and experts foresee a growth between 3 and 5 percent.
In 2018, the domesticmarket hit an eight-year high in sales, with 3.38 million bikes (including bothlocal producers and imported vehicles). With the positive figure, Vietnam standsbehind India, China and Indonesia in terms of motorbike sales.
According toinsiders, the Vietnamese motorcycle market is considered to be very saturatedbut still has potential. The market has clearly polarised intoseparate affordable and high-end segments as many people now see theirvehicles as more than just a means of transport.