Saturday, October 1, 2011

Vietnam is 4th in world motorized scooter sales

Last time I was in Vietnam I felt as if there were more scooters there per street corner than anything I saw in Hong Kong, Tokyo, or Taipei. Maybe it just felt that way, but every year since the numbers just keep going up.  

If you saw the blog posting on Piaggio Group they expect most of their revenue and profits to come from Vietnam and the rest of Asian in the next decade. Sales in Europe have slowed, America in my opinion is only here for marketing purposes since there's no way that high rent office in New York can actually pay itself with the units they move. So in reality we're talking about a whole country that is sustaining many multi-national operations right now. Both Kymco and SYM are heavily invested in the Veitnamese market. 

This week Vietnam Economic news put out some cool figures: Honda Viet Nam still grew 20 per cent in the first half of this year. With a population of 90 million, Viet Nam is ranked as the fourth biggest motorbike market in the world.

According to a report from the Ministry of Industry and Trade, in 2010, the Vietnamese motorbike industry increased by 14 per cent, with 3.51 million units sold.
If the past is in any indication it took about 5 years for Chinese scooters to dominate the US sales. Rising production in Vietnam only means that eventually that QJ China built Benelli or Zongshen built Piaggio will come from plants near Saigon and not Shanghai.

Vintage bikes from Vietnam have also been rising on dealer floors. I would warn against these for the collector, but for a restaurant they are fine.

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