Motorbike and automobile manufacturer Honda Vietnam on May 11 clarified reports that it is likely to shift its business model from manufacturing to imports.
Inside a factory of Honda Vietnam in Vinh Phuc province (Photo: VNA)
Hanoi (VNA) - Motorbike and automobile manufacturer Honda Vietnam on May 11 clarified reports that it is likely to shift its business model from manufacturing to imports.
Honda Vietnam explained that in a document submitted to the Ministry of Planning and Investment on April 29, it reported on its operations and put forward recommendations to offset automakers’ difficulties brought about by the COVID-19.
It assessed that under the impact of the pandemic, especially if it lingers on, Vietnam’s automobile sector will continue to face obstacles and automakers may, therefore, consider shifting their business model from manufacturing to imports.
Honda Vietnam, however, did not say that it would make the switch from manufacturing to imports, according to the announcement.
The automaker affirmed that it is committed to the orientation of the Vietnamese Government in focusing on domestic production./.
Honda Vietnam (HVN) has become the fourth automaker in Vietnam to suspend production and assembly of cars and motorbikes over the concerns of the COVID-19 pandemic.
Toyota Vietnam and Honda Vietnam posted the best car sales in March among members of the Vietnam Automobile Manufacturers Associations (VAMA) though both reported year-on-year drops in this regard.
Honda Vietnam announced on late April 22 that it will resume the production of automobiles and motorbikes from April 23 after 22 days of suspension to prevent the COVID-19 pandemic.
Honda Vietnam’s motorbike and automobile sales in April plunged 72 percent and 52 percent year-on-year, respectively, due to the COVID-19 pandemic, Head of its External Relations Division Nguyen Huy Trung said.
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Inside a factory of Honda Vietnam in Vinh Phuc province (Photo: VNA) 
