SAIC, China's Largest Automaker, Aims to Sell 100,000 Units in Vietnam
SAIC Motor, China’s largest auto brand, has announced plans to build a factory in Vietnam next year, with a goal of achieving sales of 100,000 units per year within five years. SAIC Vietnam, a subsidiary of Shanghai Automotive Industry Corporation, also plans to begin selling MG cars in Vietnam from July, taking over from Malaysian distributor Tanchong.
The company’s aim of selling 100,000 cars annually is ambitious, given that Toyota, Vietnam’s largest player, sold only 91,000 vehicles last year, followed by Hyundai with 81,000 units. However, SAIC is confident that selling multiple brands will be a key strategy to achieve this goal. The company is considering building the plant in the north and completing it by 2025, with plans to manufacture cars not only for the Vietnam market but also for other Southeast Asian countries. SAIC sold 5.3 million cars last year and has been China’s largest auto company for 17 years.