According to the General Statistics Office, domestic enterprises produced an estimated 312,300 motorcycles last month, an 11.7% increase compared to November's 279,500 units and a 28.6% surge over December 2023.

For the entirety of 2024, Vietnam’s motorcycle production reached 3,113,700 units, a 7.1% increase from 2023 and exceeding manufacturers' annual target of 3 million units by approximately 4%.

Peak season drives production and stable prices

The significant uptick in December’s production was driven by peak domestic demand as the shopping season intensifies ahead of the Lunar New Year (Tet).

This robust supply is expected to keep motorcycle prices stable during and after the holiday period. Many dealerships are also likely to introduce year-end discounts to further stimulate sales.

The Vietnam Association of Motorcycle Manufacturers (VAMM), which includes major brands such as Honda, Yamaha, SYM, Suzuki, and Piaggio, contributed the bulk of this production. Honda, the dominant player, accounts for approximately 80% of VAMM’s market share.

In addition to catering to domestic demand, these manufacturers export fully assembled motorcycles to various countries and territories.

Beyond the VAMM members, several domestic and foreign direct investment (FDI) companies, including VinFast, DatBike, Pega, Yadea, and Detech, are increasingly focusing on electric motorcycle production. While their production figures remain substantial, specific sales numbers are not disclosed.

Hoang Hiep