Troubled automaker working with Phu Thai Holdings to import, assemble, and distribute vehicles.
According to a report in VnEconomy, the Vietnamese-language online version of Vietnam Economic Times, Volkswagen has been working with Phu Thai Holdings to develop plans in Vietnam, with the aim of importing, assembling, and distributing its models.
The online newspaper’s source also said that Volkswagen has appointed PON, a Dutch group and its oldest and largest distributor, to support Phu Thai Holdings in implementing market research and completing a master plan to introduce Volkswagen cars in Vietnam.
PON will continue to cooperate with Phu Thai Holdings to promote Volkswagen in Vietnam and also enter into Cambodia, Laos, and Myanmar.
Six Volkswagen models are expected to be assembled and distributed in Vietnam.
A market survey conducted by Phu Thai Holdings, PON and Volkswagen estimated sales of its six models will reach 1,600 units in 2016 and 6,800 units by 2020.
Founded in 1937 in Germany, Volkswagen is one of the largest car manufacturers in the world, producing Audi, Bentley, Skoda, Lamborghini, Bugatti, SEAT, Porsche, and Volkswagen motor cars. Its main markets are Europe and China.
In recent days it has been hit by a scandal involving fraudulent emission claims. Up to 11 million vehicles are affected, and the company’s share price continues to fall at a dizzying speed.
- Phu Thai Holdings