Motorcycle Sales Slump in District 5, Ho Chi Minh City: A Shift to Electric?
There has been a notable decline in the sales of motorcycles with an engine capacity of less than 50 cc in District 5, Ho Chi Minh City, despite stable prices ranging from 12 to 20 million VND per unit, depending on the brand.
Ms. V.T.H., a business executive at a dealership on Nguyen Tri Phuong Street (District 5), attributes this significant drop in low-displacement motorcycle sales to the fierce competition from electric motorcycles, which are gaining popularity.
Mr. Hoang Minh Tuan, owner of a bicycle and electric motorcycle shop in District 10, Ho Chi Minh City, confirms that during this back-to-school season, the purchase of electric motorcycles for students has nearly doubled compared to last year.
This shift can be attributed to the increasing popularity and improved quality of electric motorcycles, coupled with their decreasing prices. While they were commonly priced at 25 million VND per unit in previous years, they now range between 14 and 15 million VND.
Electric motorcycle shops are booming in Ho Chi Minh City
The market offers a range of electric motorcycle models that can reach speeds of up to 70 km/h and even 90 km/h, rivaling traditional motorcycles. According to the law, children aged 16 and above are permitted to ride electric motorcycles with speeds below 50 km/h without a driver’s license. Therefore, parents are advised against choosing high-speed electric motorcycles for their children who are in high school.
Additionally, for middle and high school students, electric bicycles are a sensible choice as they have no age restrictions or license requirements. The absence of registration procedures further reduces costs for parents.
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