Honda posts US$30m in motorbike exports in 2004

Honda Vietnam reportedly earned 30 million US dollars from the export of 56,000 motorcycles last year, double that of 2003, said a company management. The company sold 56,000 Wave Alpha bikes to Laos and the Philippines last year, said deputy general director Nguyen San.
In total, the company manufactured and sold 566,000 motorcycles on the domestic and foreign markets in 2004. The high exports helped raise the company’s total revenue in 2004 to more than US$440 million or a year-on-year increase of 15%.
Last year, the company paid taxes of US$52.8 million and created jobs for more than 2,000 workers.
Honda Vietnam is now the largest motorcycle manufacturer and the only bike exporter in the country.
On January 31, Honda Spacy 102cc will be launched in Vietnam. Honda Vietnam expects to sell 30,000 new scooters this year.
The new Honda scooters are manufactured in Vietnam under a technology transfer contract between Honda Motor Japan and Automobile and Motorcycle Parts Manufacturing Joint Venture Co (GMN).
Accordingly, GMN based in northern Hung Yen Province near Hanoi will turn out 50,000 Spacy bikes a year.
The new model will have a similar design as Honda Spacy 125cc imported from Japan but sell for only 34.5 million dong compared with the US$4,500 of made-in-Japan Spacy.

 

Category: Business