Naza World is entering the Cambodian motorcycle market with the opening of a Naza Bikes 3S showroom in Phnom Penh. The company is targeting 10% market share, or more than 30,000 units, within the next three years. Naza Bikes will sell its NZ 125R, Naza Blade 250 and Naza Blade 650 models there.
RM 1.5 million of investment went into setting up the 7,000 sq ft 3S showroom in the Cambodia’s capital city, which is expected to open next month. The business will be headed by Naza’s Malaysian staff, with locals filling positions in sales and operations.
“Naza Bikes began planning its venture into Cambodia two years ago. We chose Cambodia as the starting point for the brand’s international growth based on extensive research of its market, culture and the opportunities that the country presents for our business sustainability and future expansion,” explained Datuk Wira SM Faisal, joint group executive chairman of the Naza Group.
“Cambodia’s market continues to thrive and the country currently has an estimated 1.8 million registered vehicles – some 300,000 are cars and the rest are predominantly motorcycles and trucks. An increase of 8% from 2011 to 2012 is a clear indication that the time is ripe for Naza Bikes to invest in Cambodia,” he added.
Naza hopes to eventually assemble its bikes in Cambodia, and is looking at appointing 10 to 20 dealers in 2014. The company intends to expand its ASEAN footprint over the next two years – Indonesia, Vietnam, Myanmar and Laos are targets.