Vietnam is expected to earn between US$800 million and US$1 billion a year annually from outbound shipments of motorbikes in the 2016-2020 period, said the Institute of Industrial Strategy and Policy Research.
The country will export environmentally friendly motorbikes, it said in the Vietnamese motorbike industry development plan for the 2006-2015 and span to 2020 recently submitted to the Ministry of Industry and Trade.
The motorcycle output in the country will exceed 3 million units, more than 1 million from the current capacity.
The two largest motorbike makers, Honda Vietnam and Yamaha Vietnam, have expanded their production capacity by 500,000 units a year each to 1.5 million and 1 million, respectively.
Honda is now holding around 60 per cent of motorbike market share in Vietnam while Yamaha is keeping around 30 per cent.
Also according to the institute, the country is hoped to bag US$300 million and US$500 million from motorcycle export in 2010 and 2015, respectively.
The motorbike industry is growing fast and export is expected to grow up. The motorbike output rose 30 per cent in the first seven months this year to 1.72 million units, it said.
Southeast Asia and Africa are potential exporting markets for motorbike manufacturers in Vietnam because they have underdeveloped motorbike industries, an industrial official said.
As for the domestic market, Vietnam expects to meet all demand for popular motorbikes by 2010.
The country will have 24 million motorcycles in 2010, 31 million units in 2015 and 33 million units in 2020, said the institute. It will add two million motorbikes a year to the traffic from now to 2010.
Hanoi and Ho Chi Minh City, the two biggest cities in the country, have reached a ratio of 2 persons/motorbike, followed by Dong Nai, Ba Ria-Vung Tau and Binh Duong provinces with three persons/motorbike ratio. Meanwhile, the national average is at six persons/motorbike.
Vietnam now about has 50 operational motorbike production companies, including eight foreign-owned firms. (VNN)
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