Vietnam motorbike sales hit 1.4 mln in first half of 2016

Motorcycles and cars stop on a street in Hanoi, Vietnam June 30, 2016. Photo by REUTERS/Kham

The country has remained motorbike-dominated.

Data from Vietnam’s Association of Motorcycle Manufacturers showed that over the first six months of this year, more than 1.4 million motorbikes were sold in the country, up eight percent over the same period last year.

Vietnam News Agency quoted Minoru Kato, general director of Honda Vietnam, saying that motorcycle sales reached their peak in 2011, so it would be impossible for the market to see any significant growth in the future.

The general director added that Vietnamese is shifting to automatic scooters, which cost more than semi-automatic bikes due to their larger storage space and stylish designs. Honda Vietnam said the ratio of scooters to motorbikes sold was roughly 52-48.

A representative of Yamaha Vietnam also echoed the analysis, adding that the ratio they see is a 50-50 split. Although their figures may differ slightly, most manufacturers agree that rising scooter sales is down to higher incomes.

According to the Ministry of Industry and Trade, Vietnam has more than 45 million motorbikes, which means one in two people own one. The country is one of the top motorcycle consumers in the world along with China, India and Indonesia.

In 2011, Vietnam motorcycle market hit a sales peak of 3.3 million units, before falling by 18 percent to 2.7 million units in 2014. The figure bounced back to 2.8 million last year with Honda remaining the market leader, accounting for 70 percent of total sales.

The rising number of motorcycles on the streets is putting pressure on traffic infrastructure, so both Hanoi and Ho Chi Minh City are considering ways to limit the number of vehicles.

By Bui Hong Nhung / VnExpress