Honda Vietnam's car sales increase sharply, cars lead the way

(NADS) - In September 2024, Honda Vietnam recorded explosive business results in both motorbike and automobile segments. Most notably, automobile sales with 3,607 vehicles sold, increased by 210.9% compared to the previous month and 41.2% compared to the same period last year. This is the result of preferential strategies and the launch of new versions of the City and CR-V models.

Honda car sales have grown strongly thanks to the Government 's preferential policy of 50% registration fee, especially for domestically assembled models such as City and CR-V. From April 2024 to September 2024, Honda sold 11,535 cars, an increase of 7.8% over the same period last year. Although imported models do not benefit from this incentive, they still compete through large promotional programs.

Honda Vietnam's auto sales growth was mainly contributed by the City and CR-V models.

The auto market in October and the remaining months of the year is expected to continue to grow, thanks to both new car launches and attractive incentive programs. Consumers have more choices, and automakers will have to increase promotions to balance the competition between domestic and imported models. This is a golden opportunity for automakers like Honda to increase market share, especially when shopping demand increases at the end of the year.

In the motorcycle segment, Honda Vietnam also achieved modest growth in September 2024 with 184,961 vehicles sold, up 3.6% over the previous month. However, compared to the same period last year, this figure decreased by 5.4%. Since the beginning of fiscal year 2025, Honda has sold a total of 1,030,435 motorcycles, up 4.1% over the same period last year. In addition, motorcycle exports also contributed 13,296 vehicles, bringing in a significant source of revenue for Honda Vietnam.

Honda Vietnam's motorcycle business also had a certain growth in September 2024

Despite strong sales growth thanks to incentives, the Vietnamese auto market still faces challenges as incentives gradually end. This requires automakers to be flexible in adjusting their business strategies. Domestic automakers, such as Honda, may face pressure from fierce competition when incentives are no longer a major advantage.

Source: https://nhiepanhdoisong.vn/thang-9-2024-doanh-so-xe-honda-viet-nam-tang-manh-o-to-dan-dau-15336.html