|A recent motor show in Vietnam. (Photo: VNA)
It cited figures compiled by the Vietnamese transport ministry that showed more than 220,000 units were sold in June, marking a significant drop of 10 percent. Vietnam remains a leading manufacturing of top brands, such as Japan’s Honda, Suzuki and Yamaha, Chinese Taiwan’s SYM and Italy’s Piaggio. The new local producer, VinFast, has been welcomed by the market, according to the website.
The website said the outlook for the local market in 2019 is still positive; in the expectation that the economy will maintain its forward momentum, experts foresee a growth rate between 3 and 5 percent in the near future.
According to insiders, the Vietnamese motorcycle market is considered to be very saturated but still high in potential. The market has clearly polarized into discreet offshoots of affordable and high-end models, as many people are now seeing their vehicles as more than just a means of transport.