{"id":13489,"date":"2022-06-01T09:52:37","date_gmt":"2022-06-01T02:52:37","guid":{"rendered":"https:\/\/gtjai.com.vn\/?post_type=research&#038;p=13489"},"modified":"2022-06-01T09:52:37","modified_gmt":"2022-06-01T02:52:37","slug":"gtjasvn_vea-equityreport_national-brand_may2022","status":"publish","type":"research","link":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/","title":{"rendered":"GTJASVN_VEA EquityReport_National brand_May2022"},"content":{"rendered":"<p style=\"text-align: center\"><span style=\"font-size: 16px\"><strong><span style=\"font-family: arial, helvetica, sans-serif\">National brands<\/span><\/strong><\/span><\/p>\n<ul>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">VEA\u2019s net revenue for 2021 was VND 4,019 bil (+9% yoy), NPAT was VND 5,792 bil (+3% yoy). Profit from Joint venture was VND 5,177 bil, (+1% yoy) but still down 27% compared to pre-covid level .\u00a0<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">VEA hold 30% share outstanding of Honda Vietnam, 20% share outstanding of Toyota Vietnam and 25% share outstanding of Ford Vietnam. Profit from these joint venture account for almost net profit of VEA, especially Honda Vietnam\u2019s motorbikes business, which account for 90% of Honda profit<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Sale volume will come back to the trend in 2022 and beyond because the Covid-19 pandemic restriction is now behind us. Sale volume of Honda\u2019s motorbike has jump for 5 consecutive months. In 3 months 2022, cumulative sale volume growth 11.2 % yoy. Meanwhile, Honda\u2019s auto sale volume and Toyota\u2019s sale volume jumped 36% yoy 42% respectively<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">There will be a bigger wave of under age 25 group is on the way of growing up to move into the older age group, which is allowed to get driver\u2019s license for motorbike, pulling up the demand. This will be the main driver for motorbikes sale growth<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">The slow and less developed public infrastructure or public transportation will favor the motorbikes used<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Strong brand will help Honda to remain competitive and raise price to compensate for high inflation<\/span><\/li>\n<li style=\"text-align: justify\"><span style=\"font-family: arial, helvetica, sans-serif;font-size: 14px\">Registration fee reduce 50% this year will push vehicle sale as Honda and Toyota have highest localization rate in manufacturing.<\/span><\/li>\n<\/ul>\n","protected":false},"author":12,"featured_media":0,"template":"","cate_research":[80],"specialized":[],"class_list":["post-13489","research","type-research","status-publish","hentry","cate_research-bao-cao-doanh-nghiep-en"],"yoast_head":"<title>GTJASVN_VEA EquityReport_National brand_May2022 - GTJA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GTJASVN_VEA EquityReport_National brand_May2022 - GTJA\" \/>\n<meta property=\"og:description\" content=\"National brands VEA\u2019s net revenue for 2021 was VND 4,019 bil (+9% yoy), NPAT was VND 5,792 bil (+3% yoy). Profit from Joint venture was VND 5,177 bil, (+1% yoy) but still down 27% compared to pre-covid level .\u00a0 VEA hold 30% share outstanding of Honda Vietnam, 20% share outstanding of Toyota Vietnam and 25% [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/\" \/>\n<meta property=\"og:site_name\" content=\"GTJA\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gtjai.com.vn\/#website\",\"url\":\"https:\/\/gtjai.com.vn\/\",\"name\":\"GTJA\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gtjai.com.vn\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#webpage\",\"url\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/\",\"name\":\"GTJASVN_VEA EquityReport_National brand_May2022 - GTJA\",\"isPartOf\":{\"@id\":\"https:\/\/gtjai.com.vn\/#website\"},\"datePublished\":\"2022-06-01T02:52:37+00:00\",\"dateModified\":\"2022-06-01T02:52:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gtjai.com.vn\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"GTJASVN_VEA EquityReport_National brand_May2022\"}]}]}<\/script>","yoast_head_json":{"title":"GTJASVN_VEA EquityReport_National brand_May2022 - GTJA","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/","og_locale":"en_US","og_type":"article","og_title":"GTJASVN_VEA EquityReport_National brand_May2022 - GTJA","og_description":"National brands VEA\u2019s net revenue for 2021 was VND 4,019 bil (+9% yoy), NPAT was VND 5,792 bil (+3% yoy). Profit from Joint venture was VND 5,177 bil, (+1% yoy) but still down 27% compared to pre-covid level .\u00a0 VEA hold 30% share outstanding of Honda Vietnam, 20% share outstanding of Toyota Vietnam and 25% [&hellip;]","og_url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/","og_site_name":"GTJA","twitter_card":"summary_large_image","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/gtjai.com.vn\/#website","url":"https:\/\/gtjai.com.vn\/","name":"GTJA","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gtjai.com.vn\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#webpage","url":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/","name":"GTJASVN_VEA EquityReport_National brand_May2022 - GTJA","isPartOf":{"@id":"https:\/\/gtjai.com.vn\/#website"},"datePublished":"2022-06-01T02:52:37+00:00","dateModified":"2022-06-01T02:52:37+00:00","breadcrumb":{"@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/gtjai.com.vn\/en\/research\/gtjasvn_vea-equityreport_national-brand_may2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gtjai.com.vn\/en\/"},{"@type":"ListItem","position":2,"name":"GTJASVN_VEA EquityReport_National brand_May2022"}]}]}},"_links":{"self":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/13489\/"}],"collection":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/research\/"}],"about":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/types\/research\/"}],"author":[{"embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/users\/12\/"}],"wp:attachment":[{"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/media\/?parent=13489"}],"wp:term":[{"taxonomy":"cate_research","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/cate_research\/?post=13489"},{"taxonomy":"specialized","embeddable":true,"href":"https:\/\/gtjai.com.vn\/en\/wp-json\/wp\/v2\/specialized\/?post=13489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}