Toyota hails 23 per cent on-year sales growth in 2014

TMV accounted for nearly 31 per cent of sales by members of the Vietnam Automobile Manurfacturers’ Association (VAMA). Five current CKD models namely Camry, Corolla Altis, Vios, Innova and Fortuner of TMV continued to rank in the top 10 best-selling cars in Vietnam.

In the same period, Toyota opened four new dealers namely Toyota Gia Lai, Toyota Bac Ninh, Toyota Binh Duong and Toyota Hai Duong, increasing the total number of dealers to 42, with nine in Hanoi, 12 in Ho Chi Minh City and 21 in other cities and provinces.

The company also sold 385 units of its luxury brand Lexus in six luxury models: ES350, GS350, LS460L, RX350, LX570 and GX460 in January 2015, Toyota opened the second Lexus dealer namely Lexus Thang Long to serve customers in the north of Vietnam after launching the first one in Ho Chi Minh city at end-2013.

In 2014, TMV achieved a new record in exporting with the turnover reaching to $40 million, bringing the accumulated value to $286 million. TMV’s products have been exported to 13 countries and regions, including Thailand, Indonesia, Philippines, Malaysia, India, Argentina, South Africa, Venezuela, Pakistan, Taiwan, Brazil, Egypt and Kazakhstan.

TMV invested nearly $19 million in its operation last year, bringing the total up to now to $54 million. Having been present in Vietnam since 1995, TMV currently employs more than 32,000 people. In 2014, its tax payment is $700 million.

In 2015, TMV targeted sales at 46,000 units, up 13 per cent on year as “the market demand will continue growing under favorable economic situation in 2015,” said Yoshihisa Maruta, TMV’s president.

This year, TMV will celebrate its 20th anniversary. On March 24, TMV welcomed its 300,000th product, which is “a very impressive start” of a series of celebration activities according to Maruta.

Automotive sales in Vietnam reached 157,810 vehicles in 2014, up 43 per cent compared to 2013, according to the latest report by the Vietnam Automobile Manufacturers' Association (VAMA).

Data by the General Statistics Office (GSO) of Vietnam showed that the Southeast Asian country last year spent $1.57 billion on importing 72,000 vehicles, up 103.8 percent in volume and 117.3 percent in value compared to 2013, respectively.