Vietnam's motorbike market expanded by 14.9% last year, the strongest growth rate in Southeast Asia, driven largely by a sharp rise in electric bike sales, according to new industry data.
A total of 3.4 million motorbikes were sold nationwide, making Vietnam the second-largest market in the region after Indonesia, which recorded sales of 6.5 million units, research firm Motorcycles Data said. Globally, Vietnam ranked as the world's fourth-largest motorbike market and the third largest for electric motorbikes.
Analysts said the rapid expansion reflects heavy investment in electric two-wheelers by domestic manufacturers as well as major Chinese brands, a trend that is reshaping the competitive landscape of the market. The shift is taking place even as Vietnam's motorbike sector matures, with consumers becoming more selective and showing strong brand loyalty, particularly toward long-established players.
Electric vehicle adoption has gathered pace amid tighter environmental policies. A key catalyst has been the announcement by Hanoi authorities that internal combustion engine vehicles will be banned from July 2026, a move that has sent a strong signal to both consumers and manufacturers and accelerated the transition toward electrification.
Traditional manufacturers are increasingly feeling the pressure from electric scooter specialists. Honda, which has dominated Vietnam's motorbike market for more than seven decades, posted modest growth of 1.3%. Yamaha, its long-time rival, saw sales fall 17.3%, causing it to lose its position as the second-largest brand in the country.
By contrast, domestic electric vehicle maker VinFast surged into second place with a dramatic 532% increase in sales, underscoring the rapid rise of home-grown electric mobility. Other electric-focused brands also recorded strong growth, including China's Yadea, which expanded 61.6%, and local manufacturers Pega and Dibao, which grew by 60% and 75% respectively. These companies ranked fourth, fifth and sixth in the market.
Industry observers said the figures highlight a pivotal moment for Vietnam's motorbike sector, as environmental policy, technological change and shifting consumer preferences combine to push the market steadily toward an electric future.
