Sales of motorcycles in Vietnam flat at 1.6 million in 6 months: VAMM
Vietnam`s motorcycle market may reach its saturation point, a view point shared by both Vietnam Association of Motorcycle Manufacturers (VAMM) and Ministry of Industry and Trade (MoIT).
VAMM announced the accumulated sales volume from its members for the first six months of 2018 was 1.587 million units, up 0.04% or 60,000 units from the same period last year.
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The remaining sales volume of around 200,000 units came from other brands such as Ducati, BMW Motorrad, Kymco, Kawasaki or Harley Davidson.
On average, as many as 8,768 motorbikes per day are sold in Vietnam by VAMA members.
During the April - June period, five VAMA members sold a total of 783,940 units, down 0.03% compared to the previous quarter (803,204 units) but up 6.1% year-on-year.
With a population of nearly 95 million and about 45 million motorbikes in circulation in the country, the motorcycle market remains potential for development. However, by taking into account the working - age population (15 - 64 years of age) of 55 million, the motorcycle ownership rate is already quite high.
A previous study conducted by the Ministry of Industry and Trade showed that that the motorcycle market in Vietnam may reach its saturation point, especially when one in every two people owns a motorcycle. VAMM earlier gave a similar forecast.
Vietnam is currently the fourth-largest motorcycle market in the world, after China, India and Indonesia.
It is estimated that around 3.3 million motorcycles will be sold in 2018, slightly higher than the figure recorded in 2017 (over 3.27 million units).
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