Total sales far exceed ambitious annual target and surpass those of its major rivals.
The Truong Hai Auto Corporation (Thaco) sold 80,421 motor vehicles in 2015, a 90 per cent increase compared to 2014, and was the leading seller in the domestic market, surpassing major competitors such as Toyota Vietnam.
It had set a sales target of 70,000 at its annual general meeting last April, which was labeled by industry insiders as overly ambitious given it sold only 42,300 in 2014 and Toyota had sold 40,020.
Sales of Kia were 21,310, Mazda 20,359, and Peugeot 544, for a total of 42,213, double 2014’s result.
Since January 1, Kia, Mazda, and Peugeot vehicles have been subject to a special consumption tax, but Thaco said it will not increase the sales price during the month to observe customer behavior.
Thaco’s main business lines are the manufacture, assembly, trade, distribution, and maintenance of passenger cars, trucks, and buses, the supply of spare parts, and real estate investment and development. It has 70 motor vehicle showrooms nationwide.