The number of motorbikes registered in 2014 continued the decline experienced over recent years.
There were only 2,916,689 motorbikes registered last year, compared to 3,272,160 in 2013, 3,282,790 in 2012, and 3,671,440 in 2011.
Seven foreign-invested motorbike manufacturers produced 2,643,917 motorbikes during the year. Besides the big five (Honda, Suzuki, Yamaha, SYM, and Piaggio), who are members of Vietnam Association of Motorcycle Manufacturers (VAMM), Lifan Vietnam and Kwang Yang Vietnam also produced 14,000 and 2,697 motorbikes, respectively. The remaining 272,000 were produced by ten domestic motorbike makers.
The fact that motorbike production continues to decline appears to shows that the market has reached saturation point.
Makers have expended a lot of effort on launching new products and conducting big promotional programs to build consumer awareness of their products.
Mr. Masaru Ono, General Director of Yamaha Vietnam, said that the company has run 300 promotional programs to introduce new products and address the problems the brand faces.
Honda Vietnam - the biggest motorbike producer in Vietnam - has also launched dozens of new models with ongoing promotions to stimulate demand.
Despite these efforts, though, the market has declined every year, especially last year.
Transport infrastructure in urban areas is developing and urban railway projects are underway in Hanoi and Ho Chi Minh City, with completion expected within two or three years. This will put further pressure on the motorbike and, indeed, the motor car market.
Last October, five members of VAMM released sales figures for April to September 2014. Honda, Piagio, Suzuki, SYM and Yamaha sold 1,250,759 motorcycles in total, but there was no breakdown for each brand.