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Motorcycle sales in Vietnam show signs of improvement after two consecutive years of declining sales. Photo by Phuc Hau. |
The latest report from the Vietnam Motorcycle Manufacturers Association (VAMM) shows that in the fourth quarter of 2022, members’ sales reached 831,999 units, up 9.98% compared to the same period in 2021.
As a result, VAMM members’ sales for the full year reached over 3 million units, a 20.49% growth compared to the sales figures from the previous year.
This is the fifth time in seven years that Vietnam’s motorcycle market has surpassed the 3-million-unit sales milestone.
Previously, the Vietnamese motorcycle market reached sales of over 3 million units during the period of 2016-2019, with a record high of nearly 3.4 million units sold in 2018.
| The Vietnamese motorcycle market strongly recovered in 2022 | ||||||||
| Vietnam’s motorcycle sales from 2016 to 2022 (Data: VAMM) | ||||||||
| Label | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |
| Motorcycle Sales | Units | 3,121,023 | 3,272,373 | 3,386,097 | 3,254,964 | 2,712,615 | 2,492,372 | 3,003,160 |
On average, more than 8,200 motorcycles were sold in Vietnam each day in 2022. This means that nearly six new motorcycles were sold every minute in the country.
The positive sales performance in 2022 also marked a strong recovery for the Vietnamese motorcycle market after a period of weakness due to the impact of the pandemic.
2022 was the first year in three years that the Vietnamese motorcycle market experienced positive growth.
Previously, VAMM’s sales data recorded total market sales of over 2.71 million motorcycles at the end of 2020, a decrease of more than 540,000 units compared to 2019.
In 2021, this figure continued to decline by more than 220,000 units, causing the sales of the five VAMM members to fall to nearly 2.5 million units.
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The purchasing power of the Vietnamese motorcycle market has improved thanks to a stable supply. Photo by Boi Ha. |
The recovery in consumer demand is considered one of the main reasons for the positive sales performance of the Vietnamese motorcycle market in 2022.
In addition, the production capacity of domestic motorcycle assembly lines also contributed to the strong growth in motorcycle sales last year.
According to data released by the General Statistics Office, motorcycle production in December 2022 is estimated at 351,100 units, a slight decrease of 0.8% compared to the previous month (353,900 units) but an increase of 4.4% over the same period in 2021.
Cumulative data for the first 12 months of 2022 shows that domestic motorcycle production in Vietnam is estimated at over 3.32 million units, up 9.9% compared to 2021.
In the fourth quarter of 2022 alone, it is estimated that the country produced and assembled more than 1 million motorcycles, up 33.3% compared to the third quarter and an increase of 19.8% over the same period in 2021.
Interesting Books for Your Ride
The ‘Xe’ category introduces readers to interesting books with a variety of captivating topics. During your journeys with your vehicles, there are moments of rest and relaxation, and books can be your delightful companions.
The Ultimate McLaren 720S Makeover: A Tale of a Hanoi Entrepreneur’s Passion
The McLaren 720S has always been a head-turner with its sleek and stylish orange and black color scheme. However, when it landed in the hands of a passionate car enthusiast from Hanoi, the supercar underwent a remarkable transformation.
The Ferrari Roma: A $900,000 Horse for Vietnam’s Elite
The 2023 Ferrari Roma is an exquisite example of Italian craftsmanship, boasting a powerful engine and a sleek, modern design. This particular model, a stunning four-seater supercar, was purchased directly from the authorized dealer by a prominent businessman from Đắk Lắk Province. Registered just last November, this Ferrari Roma is a head-turner with its elegant grey paint job.
The All-New MINI Countryman: Unveiled in Vietnam, But Price Remains a Mystery
The new generation MINI Countryman has received a comprehensive makeover, from its design to its digital technology, interior materials, and engine.
The Ultimate Guide to November 2024 C-SUV Sales: Segment-Wide Growth, with Hyundai Tucson as the Undisputed Star
The Hyundai Tucson experienced an impressive growth spurt in November 2024, solidifying its position as the standout performer in the highly competitive C-SUV segment.
Motorcycles Over 5 Years Old Will Need Emission Testing
The Vietnam Register will issue the Certificate of Emission Inspection.
