Toyota Vietnam celebrates 500,000th unit, resumes Fortuner production
Toyota Motor Vietnam (TMV) today, June 6, celebrated the release of its 500,000th unit at its factory in the northern province of Vinh Phuc, while announcing the resumption of Fortuner production using completely knocked down (CKD) components.
This is a milestone in the company’s efforts to promote local production based on the Government’s policy, contributing to the development of the local automotive industry and the country as a whole.
TMV was established in 1995 and opened its plant a year later. At the time, its yearly production only reached 212 units, or 2 units a day. Its annual output has since increased to 54,000 units, equivalent to 200 units a day.
CKD models such as Vios and Innova have been consistently listed among the bestsellers on the market, contributing significantly to the factory’s production of 500,000 units in total.
One of TMV’s commitments to the sector is to gradually increase the localization rate by enhancing in-house production, attract foreign-invested suppliers and seek and support local suppliers.
In 2017, Toyota set up a specialized department to directly assist suppliers, prioritizing purely Vietnamese suppliers to enhance their management capability, productivity and quality.
TMV has built a network of 33 suppliers with over 400 parts codes, of which five are Vietnamese companies.
The firm is also expanding its dealer network nationwide. So far, TMV has developed 57 dealers/branches across 26 provinces, with nearly 570,000 new cars being delivered to customers and more than 10.5 million service units in operation.
TMV has been ranked No. 1 in customer satisfaction for both sales and service by JD Power for many years in a row.
The company has created job opportunities for nearly 43,000 employees across its dealers, outlets and suppliers and the factory itself.
It has always been one of the leading enterprises in tax contributions to Vinh Phuc Province, at more than US$8 billion.
In welcoming back the Fortuner CKD to meet the increasingly demand of customers, TMV will introduce the Fortuner 2019 with significant improvements.
The improved model will officially be put on sale at Toyota dealers nationwide starting today, at retail prices from VND1.03 billion to VND1.35 billion (VAT included).