The Vietnamese market for gasoline motorcycles has shown consistent growth, with sales figures for the third quarter of 2023 indicating a significant upward trend. According to data released by the Vietnam Association of Motorcycle Manufacturers (VAMM) on October 9, a total of 686,661 gasoline motorcycles were sold in Vietnam from July to September, representing a 7.5% increase compared to the second quarter and a 10.4% increase compared to the same period in 2022.

This impressive sales figure translates to an average of nearly 7,464 motorcycles sold per day, or approximately 5.18 motorcycles sold every minute. The growth trend has been steady throughout the year, with all three quarters of 2023 showing an increase over the same periods in 2022.

A notable development in the market structure this quarter is the expansion of VAMM to include six manufacturers, with the addition of Kawasaki Motors Vietnam alongside established brands such as Honda, Yamaha, SYM, Piaggio, and Suzuki. This expansion has broadened the product offerings, particularly in the large-displacement motorcycle segment. However, Kawasaki's sales, which are primarily focused on motorcycles, remain relatively small and do not significantly impact the overall market volume.

Despite the introduction of electric motorcycles, gasoline-powered models continue to dominate the market. VAMM members provide a diverse range of gasoline motorcycle types, including manual transmission bikes, scooters, and sport bikes. Honda leads the market with a wide array of gasoline models, while the electric motorcycle segment is still in its early stages, with only three models currently available: ICON e:, CUV e:, and UC3. Yamaha also offers a substantial range of gasoline motorcycles, with only one electric model, the Neo's, available.

The remaining manufacturers, SYM, Piaggio, Suzuki, and Kawasaki, exclusively distribute traditional internal combustion engine motorcycles. These figures reflect the reality that gasoline motorcycles remain the backbone of the domestic two-wheeler market, catering to the preferences of the majority of consumers, despite the emergence of new energy trends.

In the electric motorcycle sector, companies like VinFast and Datbike, along with other Vietnamese and Chinese brands, have also reported strong sales this year, contributing to the overall growth of the electric motorcycle market. VinFast's latest data indicates a 280% increase in electric motorcycle sales in the first half of 2023 compared to the same period in 2022, capturing approximately 60% of the electric motorcycle market and 24% of the overall market.