Vietnam’s motorcycle market is growing rapidly, driven by strong economic momentum and an EV boom, with sales up 14.9% in 2025 to 3.4 million units, and VinFast rising to second place in the market ranking.
Economic Outlook
Vietnam is entering a new phase of economic growth driven by reform, innovation, and expanding regional partnerships. Supported by a clear development strategy and rising investor confidence, the country is consolidating its position as one of Asia’s most dynamic markets.
GDP grew by 7.09% in 2024, reaching USD 476.3 billion, and is forecast to expand by around 8% in 2025. Inflation remains contained at 3.6%, while FDI disbursement reached a record USD 25.35 billion, reflecting strong confidence in Vietnam’s competitiveness and reform trajectory.
Growth in 2025 was significantly boosted by an 80% surge in exports of laptops and other high-tech products to the United States, as well as a 42% increase in tourist arrivals from China and India. These factors partially masked more moderate growth in domestic consumption.
Looking ahead, a normalisation of both consumption and export growth is expected. These dynamics are likely to broadly offset each other, while the lagged effects of the infrastructure investment surge in 2025 should provide additional support to GDP growth in 2026.
Motorcycle Industry: Trends and Outlook
Vietnam’s motorcycle industry—the fourth largest globally and the third-largest electric two-wheeler market—is accelerating, supported by strong macroeconomic momentum and the rapid adoption of electric vehicles.
Investment in new-energy two-wheelers by local manufacturers and major Chinese OEMs is reshaping the market. However, growth is occurring in an increasingly mature environment characterised by selective consumer demand and strong brand loyalty, particularly toward Honda.
After a solid performance in 2024, the market accelerated further in 2025, with sales rising 14.9% to 3.4 million units.
Electric vehicle adoption is booming, supported by tightening environmental policies. The announcement by Hanoi authorities of a ban on internal combustion engine vehicles from mid-2026—while difficult to fully implement in a city with more motorcycles than residents—has sent a strong signal and is accelerating the shift toward electrification.
Market Leaders and Performance
In the competitive landscape, traditional manufacturers are increasingly challenged by electric scooter specialists.
Honda, the market leader for over 70 years, posted marginal growth of +1.3%, while long-standing rival Yamaha declined 17.3%, losing second place.
VinFast surged into second position with extraordinary growth of +532%, reflecting the rapid rise of domestic electric mobility. Other fast-growing electric players followed, with Chinese OEM Yadea up 61.6%, and local manufacturers Pega (+60%) and Dibao (+75%) ranking fourth, fifth, and sixth respectively.
