Vietnam-based used motorcycle platform secures $14.5 mln in funding
Okxe stated that the new capital will be used to expand its company-managed store network in Vietnam’s two major cities, Hanoi and Ho Chi Minh City.
Motor cars taking over from motorbikes
Figures from the Vietnam Association of Motorcycle Manufacturers (VAMM) show that sales in the third quarter of 2022 rose more than 200 per cent year-on-year. Over the last four years, however, sales have been on the decline and the market has become saturated. Like many countries around the world, Vietnam has been witnessing a rise in motor cars, with sales up 57 per cent year-on-year in the first nine months of 2022.