Reports from the Vietnam Association of Motorbike Manufacturers (VAMM) show that the motorbike market declined in 2019.

In Q1, 753,000 products were sold, a decrease of 6.13 percent compared with the same period last year. In Q2, the number of motorbikes sold decreased by 4.39 percent to 749,516.

The latest report showed that the number of motorbikes sold surged to 831,440, but this still represented a 3.88 percent decrease compared with the same period last year.

The association predicted that if the current situation continues, only 3.1-3.38 million products would be sold this year, which means a zero percent or minus growth rate compared with 2018.

Meanwhile, analysts believe the motorbike market is getting saturated.

Nguoi Lao Dong reported that the HCM City market is no longer bustling as it was in previous years.

In Q1 2019, 753,000 products were sold, a decrease of 6.13 percent compared with the same period last year. In Q2, the number of motorbikes sold decreased by 4.39 percent to 749,516.

Bui Van Toan, the manager of a motorbike shop in Binh Thanh district, told reporters that previously he could sell nearly 100 products a month. Now, on some days he sells no motorbikes. 

Ngo Tien Long, owner of a motorbike shop in district 5, HCM City, said the market is no longer bustling because people now have too many choices. Wealthy people use cars, while many other people travel on taxi motorbikes they hail via apps. Electric motorbikes are also a good choice for users.

Gianluca Fiume, CEO of Piaggio Vietnam, said there are two segments of the motorbike market in Vietnam – the high-end market segment and the segment for others. High-end scooters are selling better than the others.

He said VAMM has also predicted that the Vietnamese market is entering a saturation period and there will be a shift from traditional motorbikes to scooters.

“Scooters now account for 45 percent of market share and the figure will increase rapidly in the time to come,” he said.

Meanwhile, Keisuke Tsuruzono, chair of VAMM and CEO of Honda Vietnam, is optimistic about the market, saying that motorbike will remain the major means of transport for Vietnamese for many years.

As scooter demand is on the rise, Honda plans to increase scooter output to force production costs down. The manufacturer plans to launch electric motorbike soon, after settling problems in technology, environment and infrastructure.

While the new motorbike market has cooled down, the used motorbike market has become busier. A report from Cho Tot showed that previously, used motorbikes were reserved for low income earners and those who sought original models, but now, everyone can find what they want.

The scooter models mostly wanted on online markets include Honda Air Blade (VND30-37 million), Yamaha Nouvo (VND12-18 million), Honda SH (VND75-76 million), SYM Attila (VND8-12 million), and Honda Vision (VND25-28 million).

Chi Mai 

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