The latest report of the Vietnam Association of Motorbike Manufacturers (VAMM) showed that 588,926 products were sold in the second quarter, a 7 percent decrease compared with the first quarter (634,688), and 10.15 percent compared with the second quarter in 2022.

In the first six months in 2023, the total number of motorbikes sold by VAMM’s members reached 1,223,614, down 13.1 percent compared with the first six months of 2022 (1,409,004).

Meanwhile, the General Statistics Office (GSO) reported that in the second quarter in 2023, 856,800 products were sold, up 11.2 percent over the first quarter (770,700), up 7.6 percent compared with the same period in 2022. It is estimated that inventory has reached 260,000 products.

VAMM includes Honda Vietnam, Piaggio Vietnam, Vietnam Suzuki, SYM Vietnam and Yamaha Motor Vietnam.

Of the five manufacturers, Honda Vietnam is the only manufacturer that makes public monthly sales. It sold 484,473 motorbikes in the first and second quarters, down 0.7 percent compared with the same period last year. Honda’s sales account for 82.2 percent of the market share.

The strong growth of the electric scooter market amid the green-vehicle trend has partially affected the purchasing power in the gasoline-fuel motorbike market. 

Meanwhile, the plan by municipal authorities on restricting motorbikes in large cities has also caused people to hesitate to buy new motorbikes. 

Imports have also seen sales sliding amid weak demand. 

At a sales agent in Thu Duc, HCM City, Honda Scoopy sourced from Indonesia was quoted at VND36-40.9 million. The salesman said the initial selling price was VND43-44 million, which means a price decrease of VND7 million, the sharpest decrease applied to Honda Scoopy so far.

Meanwhile, Honda Scoopy sourced from Thailand made in 2022 is sold at just VND67-69 million, while Honda Scoopy 2023 series is selling at VND73 million.

Another Honda scooter import – Honda Vario 125 from Indonesia – has also plummeted in price. Vario 125 2023 joined the Vietnamese market in October 2022 and was priced at VND49-54 million. However, at this time, the versions of the models are selling below VND42 million.

Honda Vario 125 2023 standard version is selling at VND38.9 million, down VND10 million, while Vario 125 2023 high-end version is VND41.9 million, down VND12 million.

In the motorcycle market segment, Honda GPX POPZ 110 imported from Thailand has seen the price drop to VND29.9 million, a decrease of VND6.6 million from the peak of VND36.5 million when it hit the market in April 2022.

Hoang Hiep