Honda Vietnam clarifies reports on business plan

Motorbike and automobile manufacturer Honda Vietnam on May 11 clarified reports that it is likely to shift its business model from manufacturing to imports.

12, May. 2020

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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. - VNA