Vietnam Motorbike Prices Continues to Increase on Lunar New Year
Prices of motorbike in the local market are forecast to increase sharply as the Lunar New Year holiday is nearing, state media reported.
The average price has been up to VND3 million per unit, motorbike market experts claimed, adding that the increase would be higher as many of official distributors have no motorbikes to sell.
In October, the market leader Honda Vietnam sold 103,000 units, up 5,000 units over September sale. Meanwhile, Yamaha Vietnam sold more than 40,000 units, up 3,000 on month.
Notably, the sale of scooters has increased to 30 per cent and are expected to hit 50 per cent of total motorbike sales by this year's end although their prices have been raised by VND8 million per unit.
Vietnam imported 105,000 motorbikes valued at US$111 million in the first ten months, up 124 per cent and 87 per cent on year, respectively, said the General Statistics Office.
The country's Lunar New Year will fall on February 7, 2008. (US$1=VND16,135). (Labour)
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