Honda Vietnam reported sharp falls in motorcycle and automobile sales in January compared to the previous month.

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

Meanwhile, 1,494 cars were delivered to buyers, declining 35.7 per cent month on month and 60.4 per cent 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 per cent 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 Tet (Lunar New Year), 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. — VNS