Electric motorcycle sales are skyrocketing.

Conversely, sales of gasoline-powered motorcycles are declining, even the "giant" Honda is facing the same predicament.

Reportedly, in the first 10 months of the year, domestic motorcycle manufacturers shipped nearly 2.8 million motorcycles, not including hundreds of thousands of unsold units and those from imports.

While manufacturers have announced that only 2.4 million motorcycles were sold in the past 10 months, meaning official inventory has already reached 400,000 units, the total undisclosed inventory would be no less than 600,000 units.

Conversely, electric motorcycle sales have increased sharply since the two major cities, Hanoi and Ho Chi Minh City, planned to restrict gasoline-powered motorcycles in central areas and promote the conversion of gasoline motorcycles to electric motorcycles. This information has strongly influenced purchasing decisions, with people opting to buy electric motorcycles instead of gasoline-powered ones.

Specifically, in the third quarter of this year, VinFast electric motorcycle company sold more than 120,000 units (a 73% increase compared to the previous second quarter and a 536% increase compared to the same period last year), and the cumulative sales for the first three quarters of this year reached nearly 235,000 units (a 489% increase compared to the same period last year).

Electric motorcycle factories are increasing production capacity. Photo: Nguyen Hai

According to Yadea Vietnam, the company's electric vehicle sales have also increased sharply by nearly 50% thanks to its factory in Vietnam, allowing it to offer competitive prices. Domestic motorcycle manufacturers such as Dat Bike and Selex have seen sales increase by several hundred percent. For example, Yadea announced in August that it had shipped 400,000 electric motorcycles and bicycles after 6 years of operation in Vietnam. Meanwhile, electric motorcycle manufacturers Selex and Dat Bike confirmed that their sales have increased four to five times in the past three months.

Electric motorcycle manufacturers are currently offering many incentives for customers buying electric bikes, such as price reductions of 1-3 million VND depending on the model, free registration fees, and subsidized trade-in programs for gasoline motorcycles. This has attracted many people to choose electric motorcycles over gasoline ones.

Mr. Nguyen Dinh Tung, Director of Ha Thanh Motorcycle Trading Company Limited (Ho Chi Minh City), said that the motorcycle market has changed rapidly. Previously, motorcycles were the preferred choice for customers, but now most customers choose electric motorcycles. Electric motorcycles currently have good prices, suitable for many customer segments, with many models priced at 20 million VND, cheaper than manual motorcycles, and some electric motorcycle models even cost only 12-13 million VND.

According to Nguyen Hai (NLDO)

Source: https://baogialai.com.vn/doanh-so-xe-may-dien-tang-chong-mat-post573667.html