In Vietnam, the term "motorcycle" often defaults to "Honda" for many locals. Numerous repair shops bear the name "Honda repair" even though they service other brands like Yamaha, Suzuki, and SYM.

The prevalence of Honda motorcycles is evident on Vietnamese streets, dominating competitors across all segments: commuter, popular scooter, premium scooter, and moto. The Japanese brand's "wing" logo is ubiquitous, found in homes from rural to urban areas.

Sales figures consistently exceeding all others, with market shares often reaching 70% to 80%, underscore Honda's dominant position in the motorcycle sector. As sales from the five members of the Vietnam Association of Motorcycle Manufacturers (VAMM) represent nearly the entire domestic gasoline motorcycle market, Honda leads the segment.

In 2025, Honda's sales reached 2.245.562 units, capturing 85,8% of VAMM's market share. In previous years, its market share consistently hovered between 70% and 80%. Globally, the Japanese manufacturer sold over 20 million motorcycles, accounting for about 40% of the industry's total market share.

Honda's dominance in Vietnam has been a familiar sight for decades, but this now applies only to the gasoline motorcycle segment. In the electric motorcycle sector, the Japanese giant is trailing VinFast, which exclusively sells electric vehicles in Vietnam.

Marklines data indicates VinFast's sales increased nearly sixfold compared to 2024, reaching approximately 400.000 units (VinFast reported 406.453 units), securing 56% of Vietnam's electric motorcycle market share. This means the electric motorcycle market recorded over 714.200 units sold last year.

According to Nikkei Asia, Honda's sales in Vietnam in 2025 were approximately 2,16 million units (slightly lower than VAMM's reported figures), representing about 65% of the overall motorcycle market, including both gasoline and electric models. In the electric motorcycle segment alone, its market share was a mere 1,4%, equivalent to nearly 10.000 units.

"We did not expect the electrification process to happen so quickly", a Honda executive commented on Vietnam's motorcycle market.

In 2024, electric motorcycles accounted for about 10% of Vietnam's market. By 2025, this figure rose to 22%. VinFast surged like a rocket from a mid-tier player to a market leader, unseating long-standing runner-up Yamaha.

Residents travel by motorcycle on a street in TP HCM, all on Honda vehicles. *Photo: Thanh Nhan*

"Honda's slow entry into the electric motorcycle segment largely stems from its overconfidence in gasoline motorcycles", Nikkei Asia commented. "Gasoline motorcycles had advantages in price and operating range, but this is changing due to environmental policies in Vietnam".

In Hanoi, Honda's largest market, accounting for 8% to 9% of annual market share (over 190.000 units), city authorities plan to ban gasoline motorcycles on certain low-emission routes during specific hours: 18h to 24h on friday and 6h to 24h on saturday and sunday. In another major market, TP HCM, authorities are also developing a similar roadmap to restrict gasoline vehicles, but without a specific timeline.

To address market shifts, Honda Vietnam is accelerating the introduction of electric products and refining its charging and battery-swapping station network. The goal is to close the gap and compete comprehensively with rivals in the electric motorcycle sector.

In early 2026, Honda launched the UC3 model (price not yet announced) and stated it would assemble this model from the second half of 2026. The premium CUV e: model also went on sale for 65 million dong with a battery, following a period where customers could familiarize themselves with a rental scheme.

In early 2027, Honda announced it would introduce two electric motorcycle models specifically for the Vietnamese market. These products will target the popular segment, positioned below the brand's most accessible model, the ICON e: (20,5-20,9 million dong without a battery, battery price over 8,8 million dong).

In speeches by Honda Vietnam leaders in early 2026, electric motorcycle market share targets were not disclosed. The company simply stated: "Gasoline or electric, a motorcycle is a Honda". VinFast, the domestic electric motorcycle market leader, aims to sell 1,5 million units in 2026, an increase of about 275% compared to 2025.

By the end of Quarter I, Honda's motorcycle sales in Vietnam reached 612.925 units, an increase of nearly 3% compared to the same period in 2025. Meanwhile, VinFast has not yet announced its Quarter I sales but reported record sales in march. The company received over 135.000 orders from distributors nationwide and shipped over 93.000 vehicles.

According to Motorcycles Data, VinFast's Quarter I sales increased by 332% compared to the same period in 2025. In Quarter I/2025, the company sold 44.904 motorcycles and electric bicycles. Electric motorcycles accounted for most of these sales, meaning VinFast sold over 190.000 units in Quarter I this year.

Thanh Nhan