Motorcycle sales in first quarter grow slightly

15:23 | 26/04/2018 Society

The Vietnam Association of Motorcycle Manufacturers (VAMM) has reported that in the first quarter of 2018, its five members - Honda Vietnam, Suzuki Vietnam, SYM Vietnam, Piaggio Vietnam and Yamaha Motor Vietnam - sold 803,204 motorbikes of all kinds, up 1.9 percent from the same time last year.

Honda's LEAD 125cc - Source: hondaxemay

On average, each month the five firms sold nearly 270,000 motorbikes which means each day, Vietnamese people nationwide bought nearly 9,000 motorbikes.

Diverse designs of about 15 kinds of products with various prices ranging from 20 million VND (US$880) to 250 million VND (US$11,000) satisfied the demand of all customers, according to the association.

However, the VAMM did not release reports on sales for the whole market or export volume.

According to the Ministry of Industry and Trade, as more people in Vietnam are choosing other travel methods than motorbikes, the market has suffered low growth in recent years.

Earlier, the association forecast the market is entering a saturation period. Meanwhile, automatic motorbikes now account for 45 percent of the market share. Sales of the products are expected to increase in the future as people’s income increases, added the association.

Theo VNA