Discounts accelerate bike sales

Motorbike makers in Vietnam produced 384,800 units in January, a year-on-year increase of 11.3 percent, fuelled by discounts in retail prices, statistics released on Feb. 15 showed.
Motorbike makers in Vietnam produced 384,800 units in January, ayear-on-year increase of 11.3 percent, fuelled by discounts in retailprices, statistics released on Feb. 15 showed.

The revival of the motorbike sector was attributed to the mass discount of retail prices to trigger demand.

"Thereis no other way to ignite demand than by cutting retail prices," saidPham Manh Sy, general director of the Viet Phu company, a prominentYamaha retailer in Hanoi.

Sy told the English-language dailyVietnam News that economic difficulties and increasing cases ofmotorbike fires had decelerated the market.

"However, the appeal of lower prices drew buyers back," he added.

Sy said retail prices of some models were cut from 5 to 10 percent.

Meanwhile, the country imported 5,000 complete-built-unit (CBU) motorbikes worth 8 million USD last month, according to the GSO.

Whilethe figure represents a 70 percent rise in volume and 100 percentincrease in value over December 2011, it also represents a 69.5 percentdrop in volume and a 71 percent decline in value over the correspondingperiod last year.

According to the Ministry of Transport, as many as 35 million motorbikes now run throughout the country.

TheMinistry of Industry and Trade predicted that Vietnam would have apopulation of 99.6 million and 33.5 million motorbikes by 2020, or onemotorbike for every 2.97 people.

Most big scooter brand names inHanoi have seen sharp decreases in sales prices, some experiencing dropsof 10 million VND (476 USD) lower than proposed prices.

Manyscooter retailers in the capital said it has been an unusually quiettime for the market. A scooter trader in Hue Street said several peoplerushed to buy motorbikes before the end of last year to avoid increasingfees of registration.

A HEAD retailer in Giai Phong Street saidthe number of scooters provided from producers to retailers had risen,causing a surplus of products due to low demand. /.

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