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People ride their motorbikes duing rush hour at Hanoi’s Old Quarter, in Hanoi, Vietnam, August 30, 2025. [REUTERS/Athit Perawongmetha Purchase Licensing Rights]
Episode 3123 of the Vietnam Veteran News Podcast will feature a story about Honda’s hold on the Vietnamese motor bike market. The featured story come from Reuters and is titled: Honda’s grip on Vietnam motorbike market looks shaky on EV switch. The story was submitted by Francesco Guarascio and Phuong Nguyen.
It was reported that Vietnam’s motorbike market, long dominated by Honda, is entering a pivotal transition driven by strong government support for electric vehicles (EVs), positioning it as one of the most dynamic mobility markets in the world. With a projected market value rising from $4.6 billion in 2025 to $6 billion by 2030, Vietnam’s two-wheeler sector is not only vast but rapidly evolving.
A key turning point came in July when Prime Minister Pham Minh Chinh announced that fossil-fuel-powered motorbikes will be banned from Hanoi’s city center within 12 months, with a wider ban set for 2028. This aggressive push aims to combat Hanoi’s severe air pollution and accelerate the shift to electric mobility.
While Honda currently holds over 80% of the market—selling 2.6 million petrol-powered motorbikes last year—Vietnamese EV maker VinFast is emerging as a serious contender. VinFast delivered 71,000 electric bikes last year and stands to benefit directly from new regulations and shifting consumer sentiment.
A recent survey revealed that 54% of respondents nationwide—and 60% in Hanoi—would choose an electric motorbike for their next purchase, primarily due to supportive government policies. While Honda still leads in brand loyalty, VinFast is gaining ground, with 32% of respondents naming it as their next potential choice.
Vietnam’s decisive policy framework and strong market fundamentals are driving a profound transformation. As EV adoption accelerates, the Vietnamese motorbike market is not only adapting—it’s setting the pace for electrification in Southeast Asia.
Listen to Episode 3123 and discover more about Honda’s hold on the Vietnamese motor bike market.
