Vietnamese youths prefer luxury imports
A burgeoning demand for luxury scooters among urban youth in Vietnam seeking to make a fashion statement has caused a soar in two-wheeler imports in February, Vietnam News reported Wednesday. The Ministry of Trade reported that 3,000 completely-built unit (CBU) two-wheelers and 1,000 automobiles were imported last month, representing a year-on-year increase of 34 folds in the former. The February numbers brought the total number of CBU motorbikes and automobiles imported in the first two months of this year to 7, 900 and 2,000 units, respectively.
The General Department of Customs attributed the spurt in two- wheeler imports, the figure equals half the total imports last year, to the greater demand for luxury scooters in big cities.Market insiders said demand for scooters costing over US$3,200 is rising sharply. "As scooters and automobiles represent fashion trends for youths and entrepreneurs, more and more people buy luxury scooters and cars instead of common motorbikes," said a scooter dealer named Nguyen Van Cuong from Hanoi capital.
Hanoi has this year widened the ban on new motorbike registrations to three more districts, bringing the total number to seven, while southern Ho Chi Minh City has prohibited people aged under 18 from riding motorbikes. According to the southern city's authorities, 50 percent of workers in industrial parks and export processing zones will be persuaded to use public buses next year while going to work.
The Ministry of Trade said Vietnam spent US$420 million importing motorbikes and their components, and produced nearly 1.4 million motorbikes last year, posting higher figures than those in the year earlier. To date, Vietnam with a population of 82 million has licensed some 14 million driving licenses, including 13 million for motorists and nearly 920,000 automobile drivers.
Xinhua - March 2, 2005
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