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Domestic motorcycle production recovers after the Lunar New Year holiday. Photo: Honda Vietnam. |
The latest report from the General Statistics Office shows that Vietnam’s motorcycle production and assembly reached an estimated 252,400 units in February, a 5.25% increase compared to January 2023.
Previously, the total number of motorcycles produced and assembled in the country reached 239,800 units in January, a 32.26% decrease compared to the output of the last month of 2022.
Thus, after the first two months of the year, the number of domestic motorcycles in Vietnam is estimated at 492,200 units, a 12.4% decrease compared to the same period last year.
Nevertheless, the estimated production achievement of more than 252,000 units in February this year is higher than the figure recorded in February 2022 by 11.9%.
| Motorcycle production line recovers in February | ||||
| Number of domestically produced and assembled motorcycles in the last 3 months (Data: General Statistics Office) | ||||
| Label | December 2022 | January 2023 | February 2023 (Estimated) | |
| Domestic motorcycle output | units | 354,000 | 239,800 | 252,400 |
With the growth momentum mentioned above, the trend of Vietnam’s domestic motorcycle output by month seems to have changed compared to the situation observed in 2022.
Last year, February was one of the two least efficient periods for the domestic motorcycle production line in Vietnam.
In February 2022, the number of domestically produced and assembled motorcycles dropped to the lowest level with only 204,500 units rolling off the production line. Moving into the June-July 2022 period, domestic motorcycle output could not exceed the threshold of 209,000 units/month.
The stagnation of the motorcycle production line at certain times in 2022 also caused price increases for many models, especially scooters, in the middle of the year.
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Honda Vision’s on-the-road price once reached VND 60 million. Photo: Boi Ha. |
In July 2022, the market price of the Honda Vision scooter reached a peak when consumers had to pay nearly VND 60 million to be able to ride this model.
According to data released by the Vietnam Association of Motorcycle Manufacturers (VAMM), the total consumption of motorcycles in the country in 2022 reached more than 3 million units, an increase of 120.49% compared to the figure of 2021.
On average, last year, more than 8,200 motorcycles were bought by Vietnamese people every day.
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