According to statistics from the Vietnam Association of Motorcycle Manufacturers (VAMM) and other motorcycle data, gasoline motorcycle sales are slowing while electric two-wheelers are expanding rapidly. In the third quarter of 2025, the five VAMM member companies (Honda, Yamaha, Piaggio, Suzuki, and SYM) sold a total of 620,000 units, which is a 9.37% decrease compared to the same period last year. Cumulative sales from January to September remained nearly flat compared to 2024, totaling 1.91 million units.
Meanwhile, the electric motorcycle market is experiencing rapid growth. VinFast dominates the market, with sales surging 354% YOY due to the release of new models, such as dual-battery vehicles. EV motorcycles are gaining traction, primarily in urban areas, and are steadily expanding their market share.
Source: VietBiz
PSR Analysis: This development is supported by Hanoi City’s policy to ban gasoline motorcycles in its central area starting in 2026. Additionally, hundreds of thousands of delivery riders have expressed strong interest in swap-ready electric motorcycles to reduce fuel costs and eliminate charging waiting time.
VinFast’s strength lies in its dual-battery system, which balances range with instant swapping, as well as its ecosystem strategy of providing vehicles, batteries, and swap stations as an integrated package. VinFast is already building a swap network of around 1,000 locations, significantly outpacing competitors. Vietnam is the most EV-penetrated motorcycle market in ASEAN. The model established here is likely to spread to large motorcycle markets, such as Indonesia and the Philippines, in the future. PSR
Akihiro Komuro is Research Analyst, Far East and Southeast Asia, for Power Systems Research
