Monday, May 01, 2006
Hard to Believe the Market Is Saturated
Xinhua General News Service
April 19, 2006 Wednesday 3:00 AM EST
Vietnam reports decreased motorbike sales in Q1
DATELINE: HANOI
Motorbike makers in Vietnam sold 430,000 units in the first quarter of this year, a year-on-year decrease of 10 percent, the Vietnam Bicycle and Motorbike Association said on Wednesday.
Best-selling motorbike models in the country are Yamaha's Jupiter and Nouvo, and Honda's Future Neo and Wave RS, the association's chairman Le Anh Tuan said, noting that many motorbike producers are focusing on making sport models to target young customers.
The golden time for motorbike sales in Vietnam, particularly in urban areas, has passed after its peak period two years ago. The country's motorbike market is expected to be saturated in 2008, he said.
Now, every seven local people have a motorbike, and every five are expected to have a unit in the next two years, Tuan noted.
Seven foreign-invested and 35 locally-owned motorbike makers and assemblers in Vietnam sold 1.5 million units in 2005, according to the country's Industry Ministry.
Vietnam is expected to annually export 2 million motorbikes, mainly to Southeast Asia and Africa in the coming years, the ministry said.
April 19, 2006 Wednesday 3:00 AM EST
Vietnam reports decreased motorbike sales in Q1
DATELINE: HANOI
Motorbike makers in Vietnam sold 430,000 units in the first quarter of this year, a year-on-year decrease of 10 percent, the Vietnam Bicycle and Motorbike Association said on Wednesday.
Best-selling motorbike models in the country are Yamaha's Jupiter and Nouvo, and Honda's Future Neo and Wave RS, the association's chairman Le Anh Tuan said, noting that many motorbike producers are focusing on making sport models to target young customers.
The golden time for motorbike sales in Vietnam, particularly in urban areas, has passed after its peak period two years ago. The country's motorbike market is expected to be saturated in 2008, he said.
Now, every seven local people have a motorbike, and every five are expected to have a unit in the next two years, Tuan noted.
Seven foreign-invested and 35 locally-owned motorbike makers and assemblers in Vietnam sold 1.5 million units in 2005, according to the country's Industry Ministry.
Vietnam is expected to annually export 2 million motorbikes, mainly to Southeast Asia and Africa in the coming years, the ministry said.
