Volvo luxury cars to roll into Vietnam
Volvo luxury cars to roll into Vietnam
Swedish car maker Volvo Car Group will officially distribute its products in Vietnam from the third quarter of 2016.
Sales will be conducted through cooperating with Vietnamese partner Bac Au Car Joint Stock Company (Bac Au Auto).
The group will build two 4S showrooms, namely 4S Volvo Phu My Hung in District 7, Ho Chi Minh City and 4S Volvo Long Bien in Hanoi.
The two showrooms’ construction is expected to kick-off and be completed in the third quarter of 2016. An entire fleet of Volvo’s newest models will be imported from Sweden and Europe to display in the showrooms. The facilities’ service centres will be equipped with modern machinery and skilled technicians trained by Volvo Group.
According to Volvo’s vice chairman Jari Kohonen, the group is famous for environmentally friendly and high-end products. Thus, Volvo expects resounding success upon entering the Vietnamese market.
Becoming Volvo’s official distributor in Vietnam, Bac Au Auto will distribute products and provide after-sales services for customers. Besides, Bac Au Auto will have the right to open sub-agencies and service centres throughout the country.
Starting operation in 1927, Volvo currently has 2,300 distribution agencies in over 100 countries. According to the group’s financial report, in 2015, Volvo sold 503,127 cars and earned approximately $20 billion in revenue, making a total profit of $805 million.
Volvo expects its products to make up between 5-8 per cent of the high-end car market in Vietnam in the next three to five years.
