Honda Vietnam Company – manufacturer motorcycle accounting for 80% of the market share, Vietnam said that it is facing the reality of reducing the output of some models of domestically produced scooters for many months due to supply chain disruptions globally.
According to Honda Vietnam, due to the influence of economic and political fluctuations and the global shortage of semiconductor chips, along with policies to tighten control and blockade of the COVID-19 epidemic in many countries, it is causing serious problems. affected the entire market, leading to the production and supply of products of many industries being severely affected. And Honda Vietnam is not an exception.
Specifically, starting from April 2022, Honda Vietnam has faced a decrease in the average output of some models of scooters produced in the country. This situation is expected to continue in the following months when the output in May and June of some domestic scooter models will be reduced by nearly half compared to the original plan. Therefore, Honda Vietnam is making efforts to promote solutions to optimize production capacity to meet market demand as soon as possible.
Reporting on business results in the fiscal year 2022 (from April 2021 to March 2022), Honda Vietnam said that the total capacity of the entire Vietnamese motorcycle market reached more than 2.5 years. million vehicles of all kinds, down 5.2% compared to the previous period. In which, sales of Honda Vietnam reached more than 2 million vehicles, down 2.7% compared to fiscal year 2021. Even so, the motorcycle market share of this joint venture still reached about 80%, up 2%. compared with the previous financial year.
In addition to focusing on domestic business, in the last financial year, Honda Vietnam also exported 207,000 complete motorcycles and spare parts to many different markets with a total turnover of more than $462 million. increase by 25.5% compared to the fiscal year 2021.
It is expected that in fiscal year 2023 (from April 2022 to March 2023), Honda Vietnam will export more than 225,000 complete units, an increase of about 9% compared to fiscal year 2022. To achieve the results business results in fiscal year 2022, Honda Vietnam marked a flourishing year with many new products by introducing 18 models; in which 7 models and completely new versions were officially launched in Vietnam market for the first time.
The highlight of Honda Vietnam’s products still belongs to the popular line of cars including digital cars, scooters and small clutches. The continuous launch of models that apply modern technologies such as the new generation intelligent engine eSP +, traction control system (HSTC), Honda SMART Key smart lock system, Bluetooth connectivity is provided. Advanced (SH150i; SH350i) and anti-lock braking system ABS have helped to further perfect the product range, and at the same time enhance the customer experience.
In the auto business, in fiscal year 2022, with the auto market being heavily affected by the complicated developments of the COVID-19 pandemic, the Government has issued many measures to support businesses and businesses. stimulate consumer demand, especially the issuance of a policy to reduce 50% of registration fees for domestically assembled cars from December 1, 2021 to the end of May 31, 2022. Thanks to the impact of policies According to this book, in fiscal year 2022, the total automobile market volume in Vietnam reached more than 427,000 vehicles, an increase of 1% compared to the previous period.
In particular, Honda Vietnam’s auto business in the period had growth in the third and fourth quarters, but due to the influence of the COVID-19 pandemic, supply was limited, so the fiscal year ended. By 2022, this joint venture’s auto sales reached just over 24,000 vehicles, down nearly 7% compared to fiscal year 2021.
Honda Vietnam also predicts that, in the fiscal year 2023, the market volume of motorcycles and cars will continue to be affected, especially the disruption of the global supply chain leading to impacts on the production process. export and supply products of many industries; including the automobile – motorcycle industry.
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