Surge in Motorbike Sales

The association, including giants like Honda, Yamaha, Piaggio, Suzuki, and SYM, reported selling 4.9 vehicles every minute in the first half of the year, up from 4.6 in the same period last year.

Second Quarter Slump: Despite the overall growth, sales saw a 9.2% decline in the second quarter, totaling 611,236 motorbikes.

Electric Vehicles on the Rise

VinFast, a local electric bike producer, is estimated to have sold 71,000 units in the first half, matching its total sales from 2024.

Policy Shifts: With Hanoi city planning to phase out fossil fuel motorbikes by July 1, 2026, and subsequent bans on personal petrol and diesel cars, the stage is set for electric vehicles to dominate.

The policy aims to significantly boost the sales of electric vehicles, marking a pivotal shift towards sustainable transportation.