Vinasun’s 58.5% Decrease in Profit: Navigating Challenges in the Transportation Industry

Vinasun, a Vietnam-based taxi company, reported a profit of over 22 billion VND in the first quarter of this year. Although this is an impressive feat, it represents a 58.5% decrease from the same period last year and is the lowest level in nearly two years. The decline in profit can be attributed to the implementation of support policies for drivers.

Recent financial reports reveal that Vinasun had revenue of more than 278.6 billion VND in the first quarter, which is a decrease of nearly 15% compared to the same period last year. The passenger transport services by taxi were hit hardest, with revenue decreasing by 13%.

Despite these challenges, Vinasun remains committed to attracting skilled workers and improving customer service. In fact, they plan to invest in new gasoline-electric hybrid vehicles this year, with a goal of purchasing about 700 new cars primarily focusing on Toyota’s high-end hybrid models. However, despite these innovative strategies and investment plans, Vinasun anticipates a challenging year ahead as they navigate through the current landscape of the transportation industry.