2024 Q1: Vietnam's motorbike sales decline 11.5% due to market saturation, changing preferences, tech advancements, and pricing.

Vietnam's motorbike market, the world's largest, is facing a decline in sales due to market saturation, changing consumer preferences, technological advancements, and pricing dynamics. Sales have dropped 11.5% in Q1 of 2024 compared to the same period in 2023, with younger customers increasingly opting for electric two-wheeled vehicles. The overall two-wheeled vehicle market in Vietnam is expected to reach $5.93bn by end of 2024.

June 11, 2024
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