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The Vietnamese motorcycle market witnessed impressive sales in 2022, with over 3 million units sold across the country (according to VAMM). In contrast, automobile sales stood at 284,317 units (as per VAMA) for the same period. These figures highlight the continued dominance of motorcycles as the preferred mode of transportation in Vietnam.
As we move into 2023, the domestic motorcycle market is poised for exciting changes. These shifts are influenced by various factors, including brand strategies and evolving consumer trends.
The Electric Motorcycle Arena Expands
Electric motorcycles are gaining traction in Vietnam, particularly after the surge in fuel prices that saw gasoline exceed 30,000 VND per liter in late May 2022. To capture this growing market, several new electric motorcycle models have been introduced.
Initially, the electric motorcycle market in Vietnam was dominated by brands exclusively focused on this segment, such as Yadea, Pega, and VinFast. However, established motorcycle manufacturers with a long history in the industry have now entered the fray, expanding the options available to consumers.
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A notable entrant is the Yamaha Neo’s, which, despite being assembled in Vietnam since March 2022, only became available to consumers in early 2023. Priced at 50 million VND, the Neo’s can travel up to 72 km on a single charge, facing competition from rival models offering a range of nearly 200 km for a similar or lower price.
Honda, another major player, is also strategizing its entry into the electric motorcycle market in Vietnam. The company showcased its U-Be and U-Go models at a community event late last year, allowing customers to experience these electric offerings firsthand.
For electric motorcycles to gain wider acceptance in Vietnam, addressing the charging infrastructure and reducing charging times will be crucial, as most Vietnamese rely on motorcycles as their primary means of transportation.
Unveiling Unique Models
The Vietnamese motorcycle market caters to a diverse range of segments, from affordable step-through models like the Honda Wave Alpha and Yamaha Sirius to high-end motorcycles such as the Honda Gold Wing and BMW S 1000 RR, which cost hundreds of millions of VND.
Beyond these conventional choices, a niche market exists for consumers seeking unique, limited-edition motorcycles that offer more than just daily transportation. Vietnam has witnessed the introduction of exclusive, limited-production motorcycles in recent times.
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Ahead of the Lunar New Year, KTM introduced the Brabus 1300R to Vietnam, a limited-edition model with only 154 units produced globally. With a price tag of 2.2 billion VND, it represents an exclusive offering.
Three-wheeled motorcycles are also making inroads into the Vietnamese market. Piaggio Vietnam led the way with the launch of the MP3 in November 2022, the first and currently the only motorcycle of its kind available in the country. Yamaha Vietnam is expected to follow suit with the introduction of the Niken, a three-wheeled motorcycle displayed at an event in Danang last year.
Recommended Reads for Your Journey
Our Automotive section presents a selection of captivating books to accompany you on your travels. Whether you’re embarking on a road trip or enjoying a moment of respite, these titles promise to enrich your journey with engaging narratives and insights.
The Ultimate McLaren 750S Spider: A $1.3 Million Investment for the Ultimate Driving Experience
The owner of this McLaren 750S Spider convertible supercar spared no expense, shelling out a whopping 1.27 billion VND to auction off the coveted license plate number 51K-939.39. In the world of lucky license plate numbers, this particular combination is considered the ultimate prize, referred to by enthusiasts as the “boss” of small lucky number pairs.
Toyota Offers Deals on the Yaris Cross and Extends Warranty on Select Models
To kickstart the 30-year anniversary celebrations in Vietnam, Toyota, together with its nationwide dealer network, is excited to announce exclusive promotions for customers purchasing the Yaris Cross model in January 2025. Additionally, we are offering extended warranty promotions for all Toyota models throughout 2025.
The GWM Wey 80: Unveiling in Vietnam in 2025, Taking on the Toyota Alphard
In 2025, GWM plans to expand its product offerings in Vietnam with an exciting lineup of new vehicles across various segments. Among these is the luxurious GWM Wey 80 MPV, a sophisticated and stylish addition to the Vietnamese market.
The New Year Crackdown: From 1st January 2025, Drivers Face License Points Deduction and Fines for Drunk Driving
As per the new regulations, effective 1st January 2025, those who violate the alcohol limit will face fines and driving license points deduction, or even license revocation, depending on the severity of the offense.
The Hefty Fines for Car Offenses: Understanding the New Penalties from 1st January 2025.
The Decree 168 introduces stringent fines for a range of traffic violations committed by automobile drivers. The new regulations are designed to deter and penalize those who break the rules of the road, with fines serving as a strong reminder of the consequences of unsafe driving practices.
