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VIETNAM: Honda motorcycle exports earn $32 million in two years

By just-auto.com editorial team | 14 September 2004

Honda Vietnam (HVN) has earned over $US32 million from export of motorcycles and components to Asian countries in the past two years, according to the Vietnam News Brief Service.

It has exported 68,840 Wave Alpha motorcycles, its best seller, mainly to the Philippines and Laos since June 2002 when the first batch was shipped.

In addition, 530,000 engines and plastic components including mudguards and front masks have been shipped to neighbouring nations in the same period.

In the first eight months of this year alone, the company earned $18 million from shipments of 34,700 motorbikes to the Philippines and Laos.

Honda Vietnam, the largest motorbike assembler in Vietnam, is a pioneer in the export of components and motorcycles with a local parts ratio of up to 70% supplied by over 40 Vietnamese firms,  the report said.

The company, headquartered in northern Vinh Phuc province, is trying to expand its export sales and hopes to export 50,000 Wave Alphas to the Philippines this year, as well as engines and other components to other markets.

Honda contributed over VND390 billion ($US24.84 million) to the state budget in the first half of this year.

Honda Vietnam, which began operation in 1998, sold nearly 500,000 motorcycles in the domestic market in 2003.

Beside the economical Wave Alpha, the company also produces the Super Dream and Future models, the report added.