Scooters to Account for 50 per cent Vietnam Motorbike Market

Scooters are forecast to increase up to 50 per cent of the total motorbikes market in five years to come from current 20 per cent, and their prices will continue to decrease, Nhip Cau Dau Tu [Investment Bridge] magazine said recently.

 

The forecast figure is reasonable as local motorbike assemblers reported monthly sharp sale growth recently. Yamaha said its scooter sale in January made up for 20 per cent of the total, and soared to 30 per cent in June.

 

In August, SYM sold 17,000 units, mainly were Attila scooter model, up from 12,000 units a month earlier, the magazine noted, adding that Attila model is accounting for 40 per cent Vietnam’s scooter market.

 

Young Vietnamese, mainly are female, are now offered with fashionable scooters at VND21.8 million (US$1,360) a unit instead of more than VND30 million (US$1,875) as before.

 

Senior market experts estimated that foreign-invested motorbike assemblers including Honda Vietnam, Suzuki Vietnam, SYM and Yamaha Vietnam, will sell at least 150,000 units each month from September to the end of 2007.

 

Having seen lucrative businesses the market, Piaggio, like many other foreign investors, planed to build a factory costing EUR15 million in the southern economic hub of Ho Chi Minh City in 2009 in addition to a US$30 million Vespa producing plant in northern Vinh Phuc province. (Investment Bridge)