Vinasun’s Profit Takes a Hit as Support Policies for Drivers Cut into Taxi Fare Revenue

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

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

Despite these challenges, Vinasun remains committed to attracting skilled workers and improving customer service. The company 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, Vinasun has projected a decrease in revenue and profit targets for this year. The company faces various challenges in the tourism and passenger transport industry, as well as constraints from driver support policies and increased competition.

In conclusion, despite their innovative strategies and investment plans, Vinasun anticipates a challenging year ahead as they navigate through the current landscape of the transportation industry.