The Traderszone Network

Published in TZ Latest News 7 April, 2015 by The TZ Newswire Staff

Vietnam’s bikers race to upgrade as auto sales explode

Famous for its swarms of scooters, Vietnam is seeing auto sales surge amid the rapid expansion of a young, style-conscious middle class after 15 straight years of economic growth of over 5 percent. While major regional car markets Indonesia and Thailand saw annual declines in auto sales last year, Vietnam’s leapt 43 percent, Vietnam Automobile Manufacturers Association (VAMA) data shows. Toyota, Mercedes-Benz, Ford and Honda reported solid annual sales increases, despite high import taxes.

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