Honda Vietnam sees sharp falls in bike, car sales

In January, it sold 222,545 motorcycles, down 13.1% month on month and 16% year on year, data showed.

Meanwhile, 1,494 cars were delivered to buyers, declining 35.7% month on month and 60.4% year on year. Among them, Honda City and Honda CR-V were the best-sellers with 1,107 units sold in total, accounting for 74.1% of the firm’s car sales last month.

Experts said both motorcycle and automobile sales witnessed strong declines in January since the month coincided with the Lunar New Year (Tet) holiday, when many people tended to curb spending on valuable things, especially before and after the holiday.

This is a common trend every Tet, and the market will bounce back in the following months for not only motorcycles and automobiles but also many other commodities.

In terms of sales, Honda was the biggest motorbike manufacturer and fourth biggest auto manufacturer in Vietnam last year.