Motorbike manufacturers still set hope on VN market

More and more motorbike manufacturers have come to Vietnam. More and more motorbike models have been marketed. However, many products have been unsold, while the market is believed to be reaching a saturation point. According to a report published by the English language news website VietNamNet Bridge on April 15, motorbike dealers are complaining that they incurred big losses in 2013, and cannot see any improvement in 2014. A senior executive of Savico, a general service company, said … [Read more...]

Sale declines, motorbike manufacturers still set hope on VN market

Motorbike dealers are complaining that they incurred big losses in 2013, and cannot see any improvement in 2014.

VietNamNet Bridge - More and more motorbike manufacturers have come to Vietnam. More and more motorbike models have been marketed. However, many products have been unsold, while the market is believed to be reaching a saturation point. Motorbikes left unsold A senior executive of Savico, a general service company, said while the automobile market witnessed a strong recovery in 2013, with a growth rate of over 20 percent, the motorbike market experienced a very tough year. Due to a sharp … [Read more...]

Boost in Vietnamese motorbike production amid slow sales

Many motorbike sales agents suffering from losses

Motorbike producers have been increasing the number of new models in Vietnam despite slow demand in the local market. Slow sales do not put the brakes on motorbike production Many motorbike sales agents in Vietnam have said that they suffered from big losses in 2013, and have yet to see any improvement. A leader from Saigon General Service Corporation (Savico) said last year the company saw a growth in auto sales of 20%, but faced the hardest year ever for the sales of motorbikes, which … [Read more...]

HVN to boost CBU motorcycle export

Mr Masayuki Igarashi will assume the position of CEO of Honda Asia.

According to Mr Masayuki Igrashi - CEO of Honda Vietnam (HVN), "In 2014, HVN will focus not only on improving domestic production and business but also on exporting the company's products to other countries even Japan". Especially, HVN has exported the scooter Dunk from Vietnam back to Japan (as it was previously brought to Vietnam from Japan). Dunk is a model with special details designed specifically for the Japanese market such as large trunk, compact size, suitable for movement in city, … [Read more...]

Local car-makers bemoan special consumption tax

While local car-makers are up in arms over the proposed special consumption tax, car importers aren't so concerned

The difference between the application of a special consumption tax on locally-assembled cars and imported cars is raising a debate between car-makers in Vietnam, the local authorities and car importers. Ho Manh Tuan, deputy general director of Honda Vietnam, said car-makers had just petitioned the Vietnam Automobile Manufacturers Association, the Ministry of Finance and the Ministry of Industry and Trade to change the application of a special consumer tax (SCT) on locally-assembled cars … [Read more...]

Motorbike market almost reaches saturation in Vietnam: insiders

Vietnam's motorbike market is in trouble and will continue to slow down in the near future because supply has already surpassed demand, according to Masayuki Igarashi, general director of Honda Vietnam.

Motorbike sales will continue to slump as the Vietnamese market has almost reached a saturation point, industry insiders have said. Only 335,000 vehicles were sold earlier this year, a 3 percent slide compared to the same period last year, Igarashi said. Igarashi predicted that motorbike makers will face a myriad of challenges in 2014 as the economy is still in a fragile state. Moreover, the market is becoming more competitive as motorbike manufacturers have started to slash prices in … [Read more...]

Fall in deposit rates no cause for cheer

Compiled by Thien Ly Eximbank has decided to lower its one-month deposit interest rate to 6.5 per cent, and on two and three months to 6.6 and 6.8 per cent respectively. Many other banks had already cut their rates. Sacombank, Techcombank, and ACB cut them by 0.1 -0.4 per cent for terms of up to six months, and to 6.5 and 6.55 per cent for one month. Some banks have slashed the rates twice since Tet (the Lunar New Year) at the end of January. Some also cut the interest rates on deposits … [Read more...]

Motorcycle makers fear anti-congestion rumours

Slowing motorbike sales could be further hit by rumoured limits on motorcycles in major urban areas Photo: Le Toan

Vietnam's biggest motorcycle manufacturers have expressed concern over the threat of future policy limiting the proliferation of the vehicles in the country's major cities. Masayuki Igarashi, general director of Honda Vietnam, has expressed concern over the potential for government policy limiting motorcycles in Vietnam. Other issues worrying the head honcho include a lack of transparent statistics on the current number of motorcycles in the country, leading to uncertainty over the future … [Read more...]

Motorcycle Manufacturers Association begins operations

Members of the VAMM at the launching ceremony (Credit: Vietnam +)

Nhan Dan Online - The Vietnam Association of Motorcycle Manufacturers (VAMM) made its official debut on February 19 with the participation of five biggest manufacturers in the field. Honda Vietnam, accounting for 70% of market share, was elected chairmanship of VAMM for the first term, from 2013 until the end of 2015. The other four producers are Yamaha Vietnam, Suzuki Vietnam, Piaggio Vietnam and SYM Vietnam. The association represents the biggest motorcycle joint venture in Vietnam, with … [Read more...]

Motorcycle Manufacturers Association makes its debut

VAMM has five founding members including Honda Vietnam, Piaggio Vietnam Co, Ltd (PVN), Suzuki Vietnam, SYM Vietnam and Yamaha Motor Vietnam Co, Ltd (YVN). (VOV) - Founding members of the Vietnam Association of Motorcycle Manufacturers (VAMM) met for the first time in Hanoi on February 19. The total sales turnover of these five foreign-invested companies (FDI) made up 96% of last years' market share. Three major export markets of these companies are India, China and Indonesia. The … [Read more...]