Vietnam Motorcycle Market is booming, driven by the acceleration in the electrification process. Year to date April sales have been 1.28 million, up a sharp 23.3%, projecting annual sales over 4 million. Vinfast is up 204% year on year.
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. However, sales were still near 10% lower than in 2019 with further space to grow.
This space seems to be explored in 2026, with a roading performance reported in the first quarter, and in March overall, lately confirmed by April performance, with sales again up a strong 14.3%. Year to date April sales have been 1.28 million, up a sharp 23.3%, projecting annual sales over 4 million.
A clear contribution to the growth is given by the electric vehicle adoption, which 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.
In addition, the huge increase on petrol price reported from March, pushed customers towards EVs and the segment boomed 112.6% in the quarter.
In March, the segment leader, Vinfast sold over 90.000 units, which is near the double of the entire previous quarter sales, although it was not able to satisfy all customers, increasing the order portfolio. In April, several EVs specialist reported short supply and waiting list in the major dealerships.
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 +12.9%, while long-standing rival Yamaha increased 12.4%, while losing the second place, and actually ranks third.
VinFast surged into second position with extraordinary growth of +204.9%, reflecting the rapid rise of domestic electric mobility. Other fast-growing electric players followed, with Chinese OEM Yadea up 47.2%, and local manufacturers Pega (+32.7%) and DK Bike (+105%) ranking fourth, fifth, and sixth respectively.
