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Business

Toyota Vietnam a leading tax contributor in Vinh Phuc

Released at: 11:12, 11/01/2019

Toyota Vietnam a leading tax contributor in Vinh Phuc

Photo: TMV

Car maker releases business results and highlights in 2018.

by Doanh Doanh

Toyota Motor Vietnam (TMV) has announced its business results and highlight activities in 2018.

Regarding sales, TMV saw record growth of 11 per cent against 2017 to more than 65,856 units (excluding the Lexus), bringing accumulated sales to 518,742 units. The Vios has always led the market, with over 3,600 units sold in December; a new record. Others, including the Innova and Fortuner, were among the best-selling cars in 2018.

With production at 52,662 units in 2018 (up 27 per cent compared to 2017), TMV’s accumulated production reached 480,735 units, expressing its continued strong efforts and commitment to pursuing local production and developing the local automobile industry.

TMV contributed around $699 million tax to the State budget in 2018, bringing the total to over $7.7 billion since its establishment. The car maker is one of the leading companies in terms of tax contributions in northern Vinh Phuc province, where its plant is located.

It created 42,357 jobs at TMV, dealers and suppliers, with more than 1,900 working at TMV. 2018 was also the 13th year the Toyota Asia Pacific Skills Contest was held, where TMV staff won four gold medals, four silver medals, and one bronze medal, ranking it fourth in the region. This is also an achievement from TMV’s unceasing efforts to improve production quality and develop human resources with the aim of bringing the best products and services to customers.

TMV opened five new dealerships last year: Toyota Song Lam, Toyota Corolla Nankai Hai Phong, Toyota Tien Giang, Toyota Doanh Thu Thanh Hoa, and Toyota Thai Hoa Tu Liem, and two branches: Toyota Quang Ninh - Cam Pha and Toyota Giai Phong - Nam Dinh. It now has a total of 55 dealerships in 24 cities and provinces.

It invested over $21 million in 2018, bringing total investment to approximately $216 million.

2019 is forecast to be a year with many challenges and changes in the business environment. However, TMV will constantly strive to bring quality products and services to a new height, exceeding customer expectations and making continuous efforts for long-term development, thereby contributing more to the growth of Vietnam’s automobile industry and the country as a whole.

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