Five motorbikes sold in Vietnam every minute
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Over 634,000 motorbikes were sold in Vietnam in the first three months, translating to almost five units every minute.
The figure dropped by nearly 16% year-on-year, according to the Vietnam Association of Motorcycle Manufacturers, which comprises Honda, Yamaha, Piaggio, Suzuki and SYM.
The motorbike sales figure was 7.3 times that of cars, showing that two-wheelers remain Vietnam’s dominant means of transport.
In ASEAN, Vietnam ranks second only to Indonesia in motorbike sales with Honda accounting for roughly 80% of the market share.
Earlier this month Honda hiked the prices of most motorbikes following an increase in costs with the biggest increase being of VND2 million ($85).
Questions & Answers
Q.Which specific manufacturers are included in the Vietnam Association of Motorcycle Manufacturers?
Which specific manufacturers are included in the Vietnam Association of Motorcycle Manufacturers?
The association comprises Honda, Yamaha, Piaggio, Suzuki, and SYM. These five companies are the major players in Vietnam's motorbike market.
Q.What is the primary reason Honda has increased prices on most of its motorbikes recently?
What is the primary reason Honda has increased prices on most of its motorbikes recently?
Honda increased prices due to an increase in costs. Some models saw a price hike of VND2 million, equivalent to $85.
Q.How do Vietnam's motorbike sales compare to other countries in the ASEAN region?
How do Vietnam's motorbike sales compare to other countries in the ASEAN region?
Vietnam ranks second in motorbike sales within the ASEAN region. Indonesia is the only country that sells more motorbikes than Vietnam.
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