Hyundai Motor driving full steam into the market

July 31, 2012 | 09:07

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Hyundai Motor Company last week officially appointed Hyundai Nam Viet Company as its sole distributor for Hyundai buses and trucks in Vietnam.

The appointment sets a strong foothold for the South Korean company to further expand its footprint in this country. Min Wang Sik, executive president of Hyundai Motor - who oversees commercial vehicles sales, said the firm decided to appoint an official distributor because it ensured all Vietnamese customers would be satisfied with Hyundai’s services.

For Hyundai Nam Viet, cooperation with Hyundai Motor gives it a chance to provide hi-quality vehicles to Vietnamese customers. Nguyen Van Cuu, chairman of Hyundai Nam Viet, estimated that Vietnam imported around 3,000 buses and trucks each year, in a sign affirming that this is a potential market in the Southeast Asia.

“Hyundai is a popular brand in Vietnam. We see more and more customers are buying Hyundai vehicles,” said Cuu.

He added in the upcoming time, the distributor would expand an agency network nation wide to expand sale of Hyundai vehicles.

To support its customers, Hyundai Nam Viet last week signed a business cooperation agreement with BIDV. Under this agreement, BIDV will provide all banking services to Hyundai Nam Viet for further expand business and investment in the market. Furthermore, the bank also commits to satisfy the foreign currency exchange of Hyundai Nam Viet.