TMV Marks 11% Increase In 2018 Car Sales

A manufacturing line of Toyota Motor Vietnam in the northern province of Vĩnh Phúc. — Photo TMV
Viet Nam News

NỘI — Toyota Motor Vietnam (TMV) achieved a record sales volume of nearly 66,000 units, excluding imported Lexus cars, in 2018, marking a year-on-year increase of 11 per cent.

According to its business results report released on Wednesday, TMV said the Vios was its leading model with 3,600 units sold in December. The Innova and Fortuner were also listed in the best-selling cars of 2018.

Nearly 52,600 units were locally manufactured in 2018, up 27 per cent compared 2017. These figures show TMV’s commitment to pursuing local production to boost the automobile industry’s development.

TMV’s export turnover reached nearly US$71 million last year, contributing to the accumulated turnover of around US$535 million.

In the past year, TMV established a specialised department to support suppliers – especially local one – in reforming their management capability, increasing working efficiency and boosting product quality, which is seen a decisive factor in raising the localisation rate (the percentage of parts coming from local suppliers).

The firm has one of the highest localisation rates of any FDI firm in the industry, with more than 400 components provided by 33 suppliers, of which five are Vietnamese.

TMV contributed around $699 million in taxes to the State budget last year. — VNS

RECENT NEWS

Vietjet Launches Four Routes Linking Top Destinations Of Việt Nam And India

Vietjet has officially launched four more services linking top destinations of Việt Nam and India including HCM Ci... Read more

Sacombank To Recruit 300 Staff By July

Sacombank is set to hire 300 employees by the end of July for positions like personal/corporate customer service ass... Read more

"Fly First-Pay Later" By MOVI And Vietjet Wins Technology Award

“Fly first - Pay later” is an 100 per cent online financial product that first appeared on the Vietnamese market... Read more

EXIM Thailand Opens Representative Office In HCM City, Inks Credit Deal With BIDV

The Export-Import Bank of Thailand has agreed to provide the Bank for Investment and Development of Việt Nam with ... Read more

Vietjet Launches Two Routes To India

The two newest routes, which will operate 3 and 4 round-trip flights per week respectively, are expected to continu... Read more

Vietjet Develops E-logistics, Pays 20 Per Cent Stock Dividend

The budget carrier expects to earn more than VNĐ22.3 trillion (US$959 million) in air transport revenue in 2022 Read more