Vinasun’s Profit Dips Amid Competition and Tourism Slowdown

Vinasun, a Vietnam-based taxi company, has reported a profit of over 22 billion VND in the first quarter of this year. This is a 58.5% decrease compared to the same period last year and marks the lowest level in nearly two years. The decline in profit is attributed to the implementation of support policies for drivers.

Recent financial reports show that Vinasun had revenue of more than 278.6 billion VND in the first quarter, an increase of nearly 15% compared to the same period last year. Passenger transport services by taxi were the most affected, with revenue decreasing by only 13%.

Despite the challenges, the company remains focused on attracting skilled workers and improving customer service. Vinasun plans to invest in new gasoline-electric hybrid vehicles, with a goal of purchasing about 700 new cars this year, primarily focusing on Toyota’s high-end hybrid models.

However, the company has projected a decrease in revenue and profit targets for this year due to various challenges in the tourism and passenger transport industry as well as constraints from driver support policies and increased competition.

In conclusion, while Vinasun faces these challenges, they are committed to staying innovative and investing in new technologies to navigate through the current landscape of the transportation industry.