Motorbike sales drop 30.7 percent in Q2 | Business

Motorbike sales drop 30.7 percent in Q2 hinh anh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – The
Vietnam Association of Motorcycle Manufacturers (VAMM) has said its five
members, namely Honda, Piaggio, Suzuki, SYM, and Yamaha, sold 518,920 motorbikes in the second quarter of
2020, a year-on-year drop of 30.77 percent.

Honda Vietnam is making up 80 percent of the sector’s market share with the
most diverse range of products.

Honda said in June alone, it sold 174,755 motorbikes,
down 3 percent compared to the previous month and 4 percent year-on-year.

The five VAMM members are manufacturing and distributing about 100 models of
motorcycles with prices ranging from tens of millions of VND to over one
billion VND each.

Other domestic brands present in Vietnam’s motorcycle market are VinFast and
Pega, as well as foreign brands such as Ducacti, Kawasaki, BMW, KTM, Benelli,
Harley Davidson, Triumph, Royal Enfield, and Motorrad. However, they are not
members of VAMM, so no sales information is available

Insiders said besides the impact of the COVID-19 pandemic and social distancing
regulations on the purchasing power in the quarter, VAMM’s members must share
the market share with those are not members of the association.

Additionally, the local market has become saturated, with people switching to
environmentally friendly electric motorcycles and cars, or public transport,
causing the dropping motorbike sales./. 

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About Craig Ballantyne 19426 Articles
I love anything to do with Harley Davidson and have two beautiful children and a beautiful partner. In my spare time i like building websites and love anything to do with the internet.

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