Vietnam's domestic motorbike market experiences gloomy period

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HANOI, June 11 (Xinhua) -- Vietnam's domestic motorbike market has reached a point of saturation, Vietnam News Agency reported Tuesday, citing the Vietnam Association of Motorcycle Manufacturers' experts.

Although Vietnam remains the world's leading motorbike market, with over two-thirds of adults owning two-wheeled vehicles, domestic motorbike sales have been declining and manufacturers should respond to new demands, said the industry's insiders.

Vietnam's motorbike sales volumes reached 603,745 units in the first quarter of this year, down 4.88 percent from the previous quarter and 11.5 percent lower compared to Q1 last year. This sales level is equivalent to around 15 years ago, indicating a prolonged gloomy period for the industry, according to the association.

Consumers are increasingly opting for electric two-wheeled vehicles over traditional motorbikes. The combination of market saturation, changes in consumer preferences, technological advancements and pricing dynamics are among the causes of the decline in motorbike consumption, said the report.

Customers are now more cautious with their spending and a limited introduction of new motorbike models makes it challenging to attract younger customers. Enditem

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