VinFast Electric Motorcycles Outsell Honda by 5x: Is Honda Losing Ground?

VinFast Sales Surge Nearly Fivefold

According to MotorCycles Data, Vietnam is currently the world’s fourth-largest market for two-wheeled vehicles, with electric motorcycle consumption ranking third globally, trailing only China and India.

Motorcycles Data statistics reveal that Vietnam’s market consumed approximately 2.08 million units in the first eight months of 2025, marking a 15.2% increase compared to the same period last year.

While traditional scooter sales grew modestly at 14.8% in the first eight months of 2025, consumer demand for electric motorcycles has skyrocketed.

Specifically, electric motorcycles with motor power not exceeding 4 kW, which do not require a license (equivalent to internal combustion engines under 50cc), saw an 89% sales increase compared to the same period in 2024. Licensed electric motorcycles, equivalent to internal combustion engines over 50cc, surged by 197%.

VinFast, Vietnam’s homegrown all-electric brand, has significantly contributed to this growth. Market reports highlight VinFast’s leading position, recognized by MotorCycles Data as the frontrunner in Vietnam’s electric two-wheeler market.

Despite offering exclusively electric motorcycles, VinFast has secured the third position in overall two-wheeler sales, trailing only Honda and Yamaha.

Most impressively, VinFast’s sales have soared by 447% (nearly five times) year-over-year, a testament to Vietnamese consumers’ embrace of eco-friendly transportation.

Electric motorcycle sales in Vietnam reached 209,000 units in the first half of the year, nearly doubling (99.2%) compared to the same period last year, with VinFast playing a pivotal role in this boom.

Is Honda Losing Ground?

As of August 2025, Honda and Yamaha continue to dominate Vietnam’s motorcycle market share.

While Yamaha’s sales grew by 8.6%, Honda maintained a 6.3% growth rate compared to the previous year.

However, shifting market trends and macroeconomic policies may impact Honda’s future sales.

A recent Q&Me survey on Vietnamese consumers’ next motorcycle preferences hints at a significant shift, suggesting traditional gasoline brands like Honda are facing challenges amid the electrification wave.

While 50% of respondents would choose Honda for their next purchase, a notable gap exists as 82% currently own a Honda.

This decline reflects the broader market trend, with 54% of surveyed consumers favoring electric motorcycles over gasoline models (24%).

VinFast stands to gain the most from this shift: only 4% currently own a VinFast, yet 32% plan to choose it next, citing Electric Vehicle Technology (71%) and Environmental Benefits (63%) as key factors.

Honda retains customers through “Brand Reputation / Durability / Trust,” “Reliability,” and “Fuel Efficiency / Low Operating Costs,” but these may not suffice to maintain dominance as Vietnam aims for Net Zero 2050 and plans to ban gasoline motorcycles in Hanoi’s central districts by 2026.