Vietnam: Motorbikes to Gear at 33 Mln Units in 2020
Vietnam is forecast to accommodate up to 24 million motorbikes in 2010, 31 million in 2015 and 33 million in 2020, the country’s leading auto website quote the Institute of Industrial Policy and Strategy Research as saying on October 18.
The development is within the country’s national plans to meet 100 per cent demand for motorbikes in rural areas and 90 per cent in urban areas and to localize 90 per cent parts for common motorbikes and 60 per cent for scooters, the Institute said.
In the first nine months, local makers were estimated to assemble 1.99 million motorbikes, making a total of 20.6 million units, up 27 per cent on year, reported the General Statistics Office.
Vietnam was estimated to import US$500 million worth of motorbikes and motorbike parts, including 96.7 million for motorbikes, up 34.3 per cent and 89.1 per cent, respectively, the Office noted.
Meanwhile, local consumers are estimated to need 1.8 million motorbikes, 20 per cent of which are scooters each year. In several years to come, the demand would be 10 folds higher,
www.autonet.com.vn forecast.
Vietnam with around 84 million people, most of whom are at working age, and the strong growth of the economy and market demand, is regarded a true paradise for motorbike businesses. (
www.autonet.com.vn, GSO October Edition)
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