Vietnam motorbike import plunges in Feb

Vietnam motorbikes import is estimated to plunged to $8 million worth of 5,000 units February, dipping $20 million for value and 11,600 units for quantity from January

Vietnam motorbikes import is estimated to plunged to $8 million worth of 5,000 units February, dipping $20 million for value and 11,600 units for quantity from January, the online newspaper VnEconomy reported on March 3, citing the General Statistics Office of Vietnam.

Vietnam complete built unit (CBU) automobiles import also posted a decrease of $76 million worth of 4,500 in February, sharply falling by 20.5% on-month for value and 17.8% for quantity, GSO said.

The tumble was attributed to the fact that the domestic demand regularly drops after the peak-season in January due to Tet holiday. Meanwhile, the retail prices of imported car and motorbike have sharply increased after the 8.5% devaluation of VND on February, local traders said.

However, the import soared in the first two months of this year, estimated at $36 million worth of 21,600 units, surging 72.4% for value and 21.2% for quantity from 2010 as in January, local importers rushed to load cars ahead of dollar increase and to meet soaring demand – Stoxplus.com

Tags: Vietnam motorbike imports

Posted by VBN on Mar 3 2011. Filed under Automotive, Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry