Vietnamese snap up two million Honda motorcycles in fiscal 2016

By Bui Hong Nhung   June 1, 2016 | 10:55 pm PT
The world’s largest motorcycle manufacturer sold 2.03 million units in Vietnam in the 2016 fiscal year (which ended in March), up 6.3 percent from the previous year, said Minoru Kato, general director of Honda Vietnam.

The director said that last year, Honda Vietnam's motorbike sales increased by 120,000 units to touch 2.03 million, accounting for about 70 percent of the market share.

He added that the company also focused on exports with nearly 128,000 completely built units (CBU) being shipped abroad, up 40 percent on-year to fetch $293 million.

The company has set a target of making $312 million from motorbike exports in the 2017 fiscal year, up 6.5 percent from 2016.

Minoru Kato said the Vietnamese motorbike market is unlikely to grow this year, but Honda Vietnam will try to increase its revenue and market share.

According to the Ministry of Industry and Trade, Vietnam has more than 45 million motorbikes, which means one in two people own a motorbike. The country is one of the top motorcycle consumers in the world along with China, India and Indonesia.

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