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Saturday, June 15, 2024

Honda Vietnam hit hard by Covid-19

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HCMC – Honda Vietnam has seen its motorbike sales slump, given the adverse impacts of the Covid-19 pandemic, although the enterprise has been dominating the local market for years with a steady increase in sales, said Nguoi Lao Dong Online website.

The bike maker has just announced the sales report, with sales dropping significantly in recent months. In August, just over 176,000 Honda bikes were sold, down 10% compared to the previous month and 17% over the same period last year.

Between April and August, Honda Vietnam sold 789,000 bikes, falling by 23% year-on-year.

Earlier, the Vietnam Association of Motorcycle Manufacturers reported the business results of five member enterprises—Honda Vietnam, Piaggio Vietnam, Suzuki Vietnam, SYM Vietnam and Yamaha Motor Vietnam—showing gloomy figures during the second quarter of 2020. The enterprises sold around 518,900 bikes during the period, down a hefty 30.7% against 2019.

According to experts, the demand for motorcycles has declined due to the Covid-19 pandemic. In September, bike shops in HCMC are also worried about poorer sales, as it is Vietnam’s ghost month, the seventh month in the lunar calendar, when many people usually avoid buying valuable things to evade bad luck.

The falling sales have forced some shops to revise down bike prices, give gifts or launch promotion programs to attract buyers.

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