|Honda's cumulative motorcycle production in Vietnam quick to top 300,000 units 70% increase forecast for 2000 sales|
|Vietnam, September 29, 2000 - Only 33 months after commencing operations, Honda's motorcycle production facility in Vietnam has celebrated cumulative production of 300,000 units, thereby underlining its position as the country's largest producer of motorcycles.
Honda Vietnam Co., Ltd. (HVN), which is 70 percent owned by Honda Motor Co., Ltd. and Asian Honda Co., Ltd., and 30 percent by Vietnam Engine and Agricultural Machinery Corporation (VEAM), started production at its new, Hanoi-based manufacturing facility in December, 1997 just as the Asian economic crisis caused Vietnam's motorcycle market to contract by as much as 50 percent from its peak of 470,000 units in 1996.
However, with the recovery of the Vietnamese economy and demand for motorcycles, HVN's production and sales have accelerated rapidly. HVN took just 15 months to reach its first 100,000 units of production, a further 11 months to reach 200,000 units and only 7 more months to reach 300,000 units of cumulative production.
With the current rebound in demand for motorcycles and the launch of its second model, 'Future,' in October 1999, HVN expects its total sales this year to reach 160,000 units, a 70 percent increase over its 1999 sales of 94,000 units
HVN launched its production in Vietnam at its modern, 300,000-unit-capacity plant in December 1997 with the Honda 'Super Dream' 100 cc. 4-stroke model. Since then it has established a nationwide network of 126 authorized dealers to provide high quality after sales service.