HCMC – The first quarter of this year saw the steady rise in electric vehicle (EV) sales in the country as the demand continued to edge up.
According to reports by the Vietnam Association of Motorcycle Manufacturers (VAMM) and the Vietnam Automobile Manufacturers Association (VAMA), the most notable trend was the rapid expansion of the EV segment, with sales continuing to rise.
Specifically, gasoline motorbike sales by five VAMM members, namely Honda, Yamaha, Piaggio, SYM and Suzuki, totaled 729,121 units in January-March, up 8.3% year-on-year. In the EV segment, VinFast alone recorded more than 135,000 orders for electric motorbikes and delivered 53,684 electric cars during the period.
In the broader automobile market, VAMA reported total sales of 94,857 units, up 31% from a year earlier. Completely built-up (CBU) car imports accounted for 51,910 units, surging 40% and significantly outpacing the 22% growth of domestically assembled vehicles.
The shift comes as operating costs for gasoline-powered vehicles rise, with RON 95 gasoline prices at times exceeding VND30,000 per liter in late March. In addition to cost pressures, tightening emissions regulations in major cities – such as Hanoi’s plan to restrict gasoline-powered motorbikes in inner-city areas from July 1 this year and the rollout of low-emission zones (LEZs) – are accelerating consumer adoption of greener alternatives.
At dealerships, demand for EVs has surged, with supply shortages reported for several models, forcing buyers to place deposits and wait for delivery.
While EVs are leading in growth, experts said the transition will not happen overnight. In the near term, gasoline motorbikes are expected to remain dominant in suburban and rural areas due to their convenience and the still-developing charging infrastructure.
However, as traditional automakers such as Ford and Honda expand into charging infrastructure and adjust EV pricing strategies, future competitiveness is likely to favor companies that can build integrated ecosystems around green mobility and energy.
