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Update news vietnam's motorcycle market
The Vietnamese motorcycle market continues to face significant challenges, with total supply estimated to exceed demand by over 400,000 units. Companies are grappling with negative growth, and many popular models have seen deep price cuts.
The Vietnam Motor Show (VMS) is roaring back into Ho Chi Minh City this October, showcasing the latest advancements and offerings in the country's automotive and motorcycle industry.
Vietnamese domestic motorcycle production is estimated at around 3 million units per year, while Thailand has set a target of reaching motorcycle production capacity of 2.1 million units in 2023.
Vietnam's motorcycle market has been among some of the fastest-growing markets in the world in the last decades despite setbacks brought by the COVID-19 global pandemic, according to the Vietnam Association of Motorcycle Manufacturers (VAMM).