Honda Vietnam sees drops in motorbike, auto sales in June
Honda Vietnam recorded decreases of 5% and 46.5% in its sales of motorbikes and automobiles in June compared to May, respectively.
The company sold 147,693 motorbikes during the month, down 5% month-on-month and down 1.4% year-on-year. Wave Alpha was the bestseller, with 46,551 units sold, or 31.5% of the total.
Due to the global shortage of semiconductor chip supplies, the firm’s total scooter sales in June decreased by more than half compared to the same period last year.
Honda Vietnam also exported 15,868 motorbikes to different markets.
A total of 1,702 automobiles were handed over to customers, down 46.5% from May and up 9.8% year-on-year.
Honda City was the most sought-after model, with 502 vehicles delivered in the month, accounting for 29.5% of the total automobile sales.
Thanh Cong (TC) Group, the assembler of Hyundai vehicles in Vietnam, reported Tuesday that all Hyundai models in the country have suffered from component shortages due to the global semiconductor crisis and chip shortages.
Sales of Hyundai cars in June fell 34% from the previous month to 4,278. Hyundai Accent recorded the best sales among Hyundai cars at 1,086, but the figure was still down 40.5%.
On the same day, VinFast, the auto unit of Vietnam’s largest listed conglomerate Vingroup, said the number of its Lux A2.0 and Lux SA2.0 cars delivered to customers in June was less than expected due to disrupted parts supply.
For June alone, the total sales of Vietnam Automobile Manufacturers’ Association (VAMA) members decreased 42% from May to 25,159 vehicles due to a lack of spare parts and components, like semiconductors and chips, according to association.
VAMA, which does not include VinFast and Hyundai, sold 201,840 autos in the first half of this year, increasing by 34% year-on-year.
- Read More
Malaysia unlocks e-commerce growth
Malaysia’s strategic location, strong courier networks, and growing digital consumer base provide a solid foundation for e-commerce success, said David Black, CEO and founder of Blackbox Research.
Southeast Asia - Wed, January 8, 2025 | 9:41 pm GMT+7
Malaysia prepares workforce for digital transformation
Government analysis showed that over 30% of jobs in Malaysia will be affected by artificial intelligence (AI) in the next decade, with manufacturing, services and information technology expected to undergo significant transformation, said Minister of Science, Technology, and Innovation Chang Lih Kang.
Southeast Asia - Wed, January 8, 2025 | 9:39 pm GMT+7
Investment funds in Vietnam outperform benchmark VN-Index
Many open-ended investment funds in Vietnam delivered impressive performance in 2024, achieving returns of up to tens of percent with portfolios focusing on leading stocks in banking, technology, and retail sectors.
Finance - Wed, January 8, 2025 | 9:08 pm GMT+7
HCMC to start building at least one logistics center before April 30: official
HCMC will prioritize a series of large-scale projects, including starting construction on at least one logistics center before April 30, says Le Huynh Minh Tu, deputy director of the city's Department of Industry and Trade.
Infrastructure - Wed, January 8, 2025 | 6:15 pm GMT+7
Vietnam’s Ninh Thuan province 'ready' to deploy nuclear power project
Vietnam's south-central province of Ninh Thuan is ready to deploy tasks in line with its responsibility to restart the country’s nuclear power project, says Ninh Thuan Chairman Tran Quoc Nam.
Energy - Wed, January 8, 2025 | 5:07 pm GMT+7
Vietnam to focus on 3 'strategic breakthroughs' for double-digit growth in 2025: Deputy PM
The government is focusing on three "strategic breakthroughs" to achieve a double-digit economic growth for 2025, says Deputy Prime Minister Ho Duc Phoc.
Economy - Wed, January 8, 2025 | 4:58 pm GMT+7
Thailand WHA to start work on 2 industrial park projects in central Vietnam, study 3 more
Thailand’s top industrial park (IP) developer WHA will soon commence work on two industrial parks in Vietnam’s central province of Thanh Hoa and study to build three more.
Industrial real estate - Wed, January 8, 2025 | 4:02 pm GMT+7
Murphy Oil discovers oil at well offshore southern Vietnam
Murphy Cuu Long Tay Oil Ltd., a subsidiary of the U.S.-headquartered Murphy Oil Corporation, has drilled an oil discovery at the Hai Su Vang-1X exploration well offshore southern Vietnam, encountering about 370 feet of net oil pay from two reservoirs.
Companies - Wed, January 8, 2025 | 3:30 pm GMT+7
Vietnam rebounds remarkably amidst global uncertainties: EuroCham
EuroCham's Q4/2024 Business Confidence Index (BCI) report released on Wednesday shows a significant rise in business sentiment, which reflects resilience amidst a turbulent global landscape, in terms of economics, environment, and geopolitics.
Economy - Wed, January 8, 2025 | 1:07 pm GMT+7
Now good time to accumulate Vietnamese stocks with solid fundamentals: Mirae Asset exec
Now is a good time to accumulate Vietnamese stocks with solid fundamentals, as the market is undervalued, corporate profits have recovered, and the market status is to be upgraded, says Kye Kyung Tae, global business strategy director at Mirae Asset Securities.
Finance - Wed, January 8, 2025 | 12:23 pm GMT+7
Fitch rates Vietnam’s realty heavyweight Vinhomes as 'BB-'
Fitch Ratings has announced the long-term issuer default rating (IDR) of Vinhomes, a leading real estate developer in Vietnam and the housing development arm of conglomerate Vingroup, at “BB-“.
Real Estate - Wed, January 8, 2025 | 10:10 am GMT+7
Nearly $83 bln injected into Vietnam’s economy in 2024: central bank
Vietnam's credit growth reached 15.08% in 2024, with more than VND2,100 trillion ($82.77 billion) pumped into the economy, says Dao Minh Tu, Deputy Governor of the State Bank of Vietnam (SBV).
Banking - Wed, January 8, 2025 | 8:34 am GMT+7
Indonesia eyes 7.1% export growth in 2025
Indonesia targets nearly $294.5 billion in exports this year to push the country’s economy towards a growth target of 8% set by President Prabowo Subianto.
Southeast Asia - Tue, January 7, 2025 | 9:50 pm GMT+7
Thailand prepares for global financial market uncertainty
Thailand's central bank (BoT) has pledged to maintain a strong monetary policy framework amid rising global uncertainty, particularly as new policies are expected to be introduced in the US.
Southeast Asia - Tue, January 7, 2025 | 9:43 pm GMT+7
Indonesia joins BRICS as full member
Indonesia is formally joining BRICS as a full member, further expanding the group of major emerging economies, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the UAE, Brazil's government stated on Monday.
Southeast Asia - Tue, January 7, 2025 | 9:34 pm GMT+7
Malaysia, Singapore set up special economic zone
Malaysia and Singapore on Tuesday inked an agreement to create a new special economic zone for business and investment.
Southeast Asia - Tue, January 7, 2025 | 9:26 pm GMT+7