Peugeot announces its return to Vietnam

April 10, 2013 | 09:14
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The French automaker Peugeot announced on April 8 that it is returning to Vietnam with the creation of a distribution network and local production of its model 408 along with a Vietnamese partner, Thaco Group.

A Peugeot statement said that it will set up six dealerships in Vietnam, three of which are in the northern region around capital Hanoi, while the rest is in Ho Chi Minh City.

Peugeot enjoyed a strong presence in Vietnam during the 1980s as its bicycles and mopeds were popular among local consumers.

The French group estimated that as many as 300,000 new cars will be consumed in Vietnam by 2020. It expects to locally produce up to 80 percent of all the vehicles it sells in the country.

Peugeot is the third brand name to be distributed by Thaco Group, after Kia of the Republic of Korea and Mazda of Japan.

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