Taxi firm Vinasun continues to remain in the red

1 min readUpdated May 30, 2025Jul 20, 20216:00 AM

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Taxi operator Vinasun reported a loss of VND66 billion ($2.87 million) for the second quarter, its sixth consecutive quarterly loss as Covid-19 continued to wreck its business.

Revenues were VND150 billion, the lowest since the company listed on the stock market in 2008.

Before the fourth wave of Covid began at the end of April Vinasun had said its financial structure was “stable and healthy” and it hoped to increase market share in the recovering market by investing in 500 new cars to take its fleet size to 3,368 by the end of the year.

It targeted revenues of VND1.05 trillion this year, up 4 percent from 2020, and expected to reduce its losses to VND79 billion from VND210 billion last year.

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Questions & Answers

How much revenue did Vinasun generate in the second quarter?

Vinasun's revenues for the second quarter were VND150 billion. This figure represents the lowest revenue the company has recorded since its listing on the stock market in 2008.

What was Vinasun's financial position before the latest Covid wave?

Before the fourth wave of Covid began in late April, Vinasun had stated its financial structure was “stable and healthy”. The company had hoped to increase its market share in the recovering market.

What was Vinasun's target for fleet expansion this year?

Vinasun aimed to expand its fleet to 3,368 cars by the end of the year. This expansion plan involved investing in 500 new vehicles to enhance its operational capacity.

What was Vinasun's financial target for the full year?

Vinasun targeted total revenues of VND1.05 trillion for this year, aiming for a 4 percent increase from 2020. The company also hoped to reduce its losses to VND79 billion, down from VND210 billion last year.

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