According to VAMM, Vietnamese people will buy 2,653,607 motorbikes in 2024. This number is equivalent to 5 motorbikes being sold every minute.
However, the above figures do not fully reflect the number of new motorbikes sold. Meanwhile, many companies on the market do not or have not yet announced sales figures such as: VinFast, Yadea, Dat Bike or motorcycle brands such as: Ducati, BMW Motorrad, Triumph...
In terms of market share, Honda continues to dominate the market with sales of 2,147,025 vehicles (accounting for nearly 81% of the total market share). Honda's advantages are its diverse product range, large dealer network and vehicle designs suitable for many different customer groups.
Motorcycle sales of VAMM members (including Honda, Yamaha, Suzuki, SYM and Piaggio) have fluctuated erratically in the past 5 years. In 2022, the organization's sales were more than 3 million units, equivalent to the years with the highest sales: 2018 (3.3 million units); 2019 (3.2 million units).
In recent years, VinFast has dominated the electric motorbike segment, followed by the emergence of rival Yadea. In its most recent sales figures, VinFast said it sold 72,469 electric motorbikes in 2023. Compared to VAMM's sales, VinFast's sales are nearly 3%.
