Vietnam Motorcycles- Data & Facts 2023 | MotorcyclesData

Vietnam Motorcycles Market is in good shape again. Full year 2022 sales have been 3.38 million, a huge +18.1%, marking the best level out of the last 3 years, not far from the record.

Vietnam Motorcycles Industry Trend and Perspectives

The motorcycles market is crucial in Vietnam, where the two-wheelers represents by far the first individual mobility device.

The market is mature with over 60 million vehicles in circulation, but the introduction of new rules to reduce the CO2 emission are progressively pushing manufacturers to produce electric vehicles revamping the entire industry.

Following a couple of years on which the effects of covid hit the market, in the 2022 the demand was robust and the market grew up fast. 

Full year sales have been 3.38 million, a huge +18.1%, marking the best level out of the last 3 years, not far from the record hit in 2018.

Vietnam is the second largest electric vehicles market after China and data confirms the trend with L1 segment up 11..5% and L3 segment up 59.7%.

Looking at the competitive arena, the market leader in the annual data is Honda with sales up 21.2%.

In second place there is Yamaha (+17.3%) ahead of Pega (+6.1%).

The local electric vehicles specialist, Vinfast is down 27.4% ranking in 4th place, ahead of Yadea (+36.6%), which is now locally producing, Dibao and Sym.