The motorbike and automobile markets in Vietnam fell dramatically in the first month of 2023
Honda Vietnam Corporation recently reported that the joint venture’s motorbike and car businesses’ retail sales in January 2023 fell significantly from the previous month, by 13.1% and 35.7%, respectively.
In the motorbike industry, Honda Vietnam sold 222,545 vehicles of all kinds in January, a 13.1% decrease from the previous month and a 16% decrease from the same period last year.
In particular, 3 motorcycle models in the 3 segments of digital automobiles, scooters, and manual scooters are generally the best-selling vehicles of this firm every month, but sales plummeted by 9-45% in January.
Honda’s motorbike and automobile markets on the first month of 2023
Regarding the sales of the automobile segment, Honda Vietnam sold 1,494 vehicles in January, a 35.7% decrease from the previous month and a 60.4% decrease from the same period last year.
With 1,107 vehicles sold, Honda City and Honda CR-V continue to be the two best-selling models in this joint venture, accounting for 74.1% of total automobile sales volume in January 2023.
Experts claim that because the Lunar New Year fell in January this year, fewer people went shopping overall, especially in the days leading up to and following Tet. As a result, the market for motorbikes and cars in Vietnam had a steep decline in the first month of the new year.
This is also the general market trend in the month of Tet every year, and it will expand again in the following business months for numerous items, including automobiles and motorcycles.
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