The motorbike market in Vietnam is forecast to grow at least 20 per cent this year as the demand for the two-wheeler is on the sharp rise and leading manufacturers boost production, an official from Yamaha said.
The Yamaha official said demand for motorbikes this year will grow strongly because the government has decided to eradicate all restrictions on the ownership of motorbikes. Previously, each adult citizen was permitted to have only one motorbike registered for use in traffic. Hanoi even completely banned citizens in some regions from motorbike registration.
This year, the four largest motorbike makers in the country are expected to sell nearly 1.3 million units, up nearly 30 per cent from their last year’s sales.
Of the sum, the country’s largest maker Honda Vietnam expects to market 700,000, followed by Yamaha Vietnam with 300,000, Taiwan’s SYM with 150,000 and Suzuki with 100,000.
Last year, they sold over one million units, of which Honda Vietnam accounted for 620,000 units, Yamaha Vietnam 220,000, SYM 113,000 and Suzuki 67,000.
The motorbike market will become more progressive when the Ministry of Industry allows three local motorbike enterprises, namely Huy Hoang Co, Hung Hung Co and Unimex Hai Phong Co., to produce motorbikes, an expert said.
Furthermore, with a brighter future for the motorbike industry, many enterprises which had stopped production due to slow sales, have resumed production.
Vietnam has recently introduced a plan to become a motorbike exporter by 2010. It plans to send abroad 450,000-500,000 units by 2010. The current production capacity of the motorbike industry is some three million units a year.
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