Sales of enterprises operating in automobile and motorbikes manufacturing and assembling in the northern province of Vinh Phuc were estimated to exceed 258 million USD since the beginning of 2019, a year-on-year increase of 19 percent.
Members of the Vietnam Association of Motorcycle Manufacturers (VAMM) witnessed sales of more than 749,500 units in the second quarter of this year, marking a decrease of 4.4 percent from the same period last year.
Foreign investors have been encouraged to take advantage of the double benefits Vietnam is offering through its commitments in the many trade pacts signed with other countries.
The Vietnamese motorcycle market in 2018 broke its sales record set seven years ago with nearly 3.4 million units sold for a year-on-year increase of 3.5 percent.
The motorbike market of Vietnam has recorded positive growth in recent years, despite being forecast to enter a saturation period by the Vietnam Association of Motorcycle Manufacturers (VAMM) two years ago.
The Vietnam Association of Motorcycle Manufacturers has reported that its members sold 783,940 motorbikes of all kinds in the second quarter of 2018, up 6.1 percent against the same period last year.
The Vietnam Association of Motorcycle Manufacturers (VAMM) has reported that in the first quarter of 2018, its five members - Honda Vietnam, Suzuki Vietnam, SYM Vietnam, Piaggio Vietnam and Yamaha Motor Vietnam - sold 803,204 motorbikes of all kinds, up 1.9 percent from the same time last year.
There are numerous optimal factors for foreign businesses, including Italian ones, to do business in Vietnam, said Stefano Balsamo, founder of the Diplomatia association and Vice Chairman of J.P. Morgan in Italy.
Members of the Vietnam Association of Motorcycle Manufacturers (VAMM) sold more than 3.2 million motorcycles in 2017, marking a year-on-year increase of 4.8 percent.
Vietnamese people bought more than 24,400 cars in June, an increase of 31 percent compared with the same period last year, the Vietnam Automobile Manufacturers’ Association said.
Manufacture, assembly and sales of automobile products of Toyota Vietnam and Honda Vietnam in the northern province of Vinh Phuc have had a sharp gain in recent years.
While motorcycle dealers bemoan the slowest sales in a decade,
manufacturers are busy since the beginning of this year, introducing new
models in the hope of triggering a revival.
With its favourable investment climate, Vietnam will lure more money
from Italian enterprises in the near future, visiting Italian Prime
Minister Matteo Renzi said on June 10 during his tour of the Piaggio
Vietnam Factory in northern Vinh Phuc province.
More and more motorbike manufacturers have come to Vietnam. More and
more motorbike models have been marketed. However, many products have
been unsold, while the market is believed to be reaching a saturation
point.
From top luxury car manufacturer coming to Vietnam to the first Vietnam
Motorcycle Festival in passing through new incentives, a glance at the
10 auto events in 2013.
About 3 million motorbikes are sold in Vietnam every year. Meanwhile,
the five major motorbike joint ventures alone churn out 4 million
products a year. The oversupply would force the manufacturers to boost
exports and turn Vietnam into the world’s motorbike production base.
Report by the Vietnam Net online newspaper.
Italy’s Pediatric Hospital Bambino Gesu will join hand with the
National Hospital of Pediatrics in a charity project providing treatment
for children suffering from complicated urological diseases.
A delegation of US officials and businesses paid a working visit to northern Vinh Phuc province on September 20 to study investment environment in the province.
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