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Motorbike, car prices soar hourly with rising dollar
The price of an imported SH motorbike may increase by one million dong overnight, while an imported Toyota Camry may increase by 27 million dong in just one week. The quick climb in dollar prices on the black market over the last week is to blame.
VietNamNet reporters have discovered that imported motorbike prices have increased every hour in tandem with the increases in dollar prices on the domestic market.
Motorbikes more expensive by the hour
Le Hang Motorbike Shop’s owner noted that the 125 cc SH scooter imported at $6,500, sold at 122.850 million dong on the afternoon of November 9. The next morning, the price had jumped to 123.955 million dong. The price then rose further in the afternoon to 124.475 million dong.
Why the quick ascent? Motorbike importers, who must use dollars to import products, always list sale prices in dollars. Recently the black market dollar price has soared. On the afternoon of November 9, the dollar price was reported at 18,900 dong per dollar. It went up to 19,070 dong the next morning and reached 19,100 dong by the afternoon of November 11.
Prices of imported motorbikes in dollars have also skyrocketed.
Hung, the owner of a motorbike shop, stated that imported scooters including Piaggio, SH, Spacy and Honda have seen the sharpest price increases.
He said that some kinds of motorbike have seen a climb of 10 percent over October 2009. The Spacy model has increased by 20 percent in price, or $1,000, and is now selling at $8,700.
Another motorbike shop owner interviewed by VietNamNet told a client that the $6,500 price for SH scooter represents the $1,000 increase over the previous week, and warned that the client should purchase the scooter then, because the price would rise even further by as much as $200.
Medium-class scooters also have higher prices in Vietnam dong.
Hao, a motorbike saleswoman, said that SCR FI imported from China has increased by 500-700,000 dong over the previous week. The shop is now selling the motorbike at 36 million dong.
Car buyers lose millions
V, a worker in a car showroom, said that if paying in Vietnam dong, buyers have to spend additional tens of millions of dong.
A Camry 2.0 imported from Taiwan has the price of $48,000. If paying on November 10, buyers had to fork over 919.2 million dong. However, if delivered last Thursday, the consumer had to pay just 891.36 million dong. As such, buyers could lose 27.84 million dong for making a later payment date.
Currently, only two automobile manufacturers quote sale prices in VND, Honda and Toyota. These manufacturers will have to change prices daily in accordance with the dollar price fluctuations.
Honda Giai Phong on November 10 quoted a price of 546,781,400 dong for Civic 1.8MT. H, a showroom employee, told clients that the price was inaccurate because it was the previous day’s price, when the dollar was 17,869 dong as quoted by Vietcombank.
The price of the car for November 10 was 577,483,200 dong, an increase of 30.618 million dong.
Pham Huyen
vietnamnet
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