Vietnam’s motorcycle manufacturing sector increased by 10.6 percent in December 2024 compared to November 2024, according to Vietnam’s Industrial Production Index.
Year-on-year, the sector achieved a growth of 26.7 percent in December 2024 compared to December 2023. For the full year of 2024, cumulative growth stood at 4.7 percent compared to 2023, reflecting moderate progress for the year with significant gains toward the year-end.
The sharp monthly increase highlights heightened demand during the holiday season, while the strong year-on-year growth reflects a recovery in consumer and export markets. The annual growth, though modest, suggests stabilisation in the sector following fluctuations earlier in the year.
Motorcycle manufacturing is a critical industry in Vietnam, driven by robust domestic demand and a strong export market. The rise of electric motorcycles and increasing urban mobility needs have further bolstered the sector’s growth potential. Investments in innovation and environmentally friendly technologies are expected to sustain growth in the coming years.
The performance in 2024 underscores the importance of motorcycle manufacturing in Vietnam’s industrial economy and its role in regional and global markets.
See also: Automotive Industry in Vietnam