The five members of the Vietnam Association of Motorcycle Manufacturers (VAMM) sold 731,077 vehicles in the first quarter of 2020, down 3.03 percent year on year.
|The five VAMM members witness a 3.03-percent decline in their motorcyle sales in Q1 of 2020 (Photo: haiquanonline.com.vn) |
That means the VAMM members, namely Honda, Piaggio, Suzuki, SYM and Yamaha, delivered nearly 244,000 units to customers every month, data of the association show.
These producers are currently supplying about 100 models to the market, from domestically assembled to imported vehicles, with prices ranging from 18 million VND to 1.2 billion VND (771 – 51,400 USD) per unit.
However, insiders said the actual motorcycle sales in the country are much higher than the released figure since apart from the VAMM members, there are more brands in the Vietnamese motorcycle market such as Kymco, Ducati, Kawasaki, BMW, KTM, Benelli and Harley Davidson.
Meanwhile, VinFast, Pega and Yadea are also manufacturing, assembling and distributing electric scooters in the market, but they are not members of the VAMM and haven’t revealed their sales.
Experts already forecast the fall in motorcycle sales triggered by market saturation, and the downward trend began several years ago. The sales declined 2.5 percent year on year in 2018, 4 percent in 2019 and 3.03 percent in Q1 of this year.
Besides, the improved living standards and decreasing car prices have encouraged many people to choose automobiles instead of motorcycles.