Word: honda
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...Caught in the government policy switchback are three of the biggest names in the business: Honda, Yamaha and Suzuki. The quotas, announced in September, will cost the Japanese manufacturers an estimated $267 million in lost revenue this year. Honda and Yamaha each has had to shut down its Vietnam factory until the end of the year, and Suzuki says it will also run out of parts any day. Japanese executives are fuming, hinting the abrupt policy shift could hurt Vietnam's bid to join the World Trade Organization. After a delegation from the big three bikemakers were snubbed earlier this...
...while a young daughter perches on the handlebars. A recent survey found only 3% of riders wear helmets. "I've never worn a 'rice cooker'?it's too much hassle," says Nguyen The Hung, 40, doing his weekend shopping with his wife and 12-year-old son on his Honda Future. "Anyway I'm a good enough driver to keep us safe." The only piece of safety equipment that sees regular use is the horn...
...production. It is doing so indirectly, by limiting the flow of parts that go into bikes. In September, the government announced it was slashing the number of "assembly kits" manufacturers are allowed to import this year from 2.5 million down to 1.5 million?effectively cutting the motorcycle output of Honda, Yamaha and Suzuki by some 40% at a time when they are already feeling pressure from cheaper Chinese-made bikes...
...Japanese have always been required to use some Vietnamese-made parts during assembly, under deals made with the government allowing them to set up factories in Vietnam. But there's been a running spat over whether Japan is living up to those contracts. Hanoi in July accused Honda, Yamaha and Suzuki of falsifying records to make it look like they are buying more local parts than they actually were. "These companies use the fact that they are big investors to strong-arm our government," complains Nguyen Van Khoa, president of the Vietnam Association of Motorcycles...
...restrictions, there may be an ugly backlash. The country's bilateral trade agreement with Japan?a prerequisite to WTO ascension?has already been delayed. At least one Japanese parts manufacturer looking to set up shop in Vietnam has put investment plans on hold, according to Oyama, the Honda director. "This is not just a motorcycle issue," warns a senior Japanese official. "People everywhere are watching closely to see whether Vietnam is really committed to opening up to investment." Even a safety advocate like Craft is mystified as to what Hanoi hopes to achieve, "They're playing with...