The slowdown is primarily due to the Lunar New Year holiday, which led to factory closures, and the high inventory levels at dealerships. Despite this temporary setback, the industry is expected to recover in the coming months.

According to a recent report by the General Statistics Office (GSO), Vietnam’s motorcycle manufacturers produced an estimated 231,200 new units in January 2025.

This figure represents a 27.3% drop from December 2024’s peak of 313,700 units and a 12% decrease compared to January 2024.

Throughout 2024, domestic manufacturers produced over 3.11 million motorcycles, marking a 7.2% increase from 2023.

However, January’s production slowdown reflects the impact of the Lunar New Year holiday, during which many factories reduce operations.

Additionally, the market is still digesting high inventory levels, leading manufacturers to scale back production temporarily.

Despite the slow start to 2025, the Vietnam Association of Motorcycle Manufacturers (VAMM) reported strong sales figures for 2024. Total motorcycle sales reached 2,653,607 units, an increase of 5.46% from 2023.

Vietnam’s motorcycle industry is not limited to domestic sales - many manufacturers export complete motorcycles to international markets.

VAMM currently consists of five major members: Honda Vietnam, Piaggio Vietnam, Vietnam Suzuki, SYM Vietnam, Yamaha Motor Vietnam.

Among them, Honda dominates the market, accounting for approximately 80% of total production and sales.

Apart from these traditional manufacturers, Vietnam’s electric motorcycle industry is expanding. Companies such as VinFast, DatBike, Pega, Yadea, and Detech have entered the market with significant production volumes, although they do not publicly disclose specific sales figures.

Despite the short-term production dip, the industry is expected to rebound in the coming months as factories return to full operation after the Lunar New Year holiday.

Additionally, the growing demand for electric motorcycles and export opportunities may drive further expansion in Vietnam’s motorcycle manufacturing sector.

Hoang Hiep