Founding members Honda, Yamaha, Suzuki, SYM, and Piaggio together account for more than 95% of the Vietnamese market share.

Honda controls the largest proportion of 70%, followed by Yamaha, SYM, Suzuki, and Piaggio. The five joint ventures began sharing sales data last year.

One VMA member explained the association grew out of mutual desires for a unified industry policy lobbying voice and an equitable competitive environment.

The association arrives after a 2013 slump that marked the second consecutive year of declines in turnover.

Although the Vietnam Bicycle and Motorbike Association has existed for some time, it never manages to attract the support of key motorbike businesses, and its market influence has steadily faded to almost nothing.